Incorporating Space-Time Correlation of Population Densities into the Design of a Candidate Rail Transit Line over Years

Table 3

The housing rent list along the Western Island Line.

Station	Representing housing estates	Housing price (HK$/Sqft)	Daily housing rent (HK$)
(1) Central (CBD)	Winner Building	31864	676.34
(2) Sheung Wan	Hollywood Terrace	17214	366.52
(3) Sai Ying Pun	Island Grest	21645	460.88
(4) HKU	The Belcher’s	20298	432.88
(5) Kennedy Town	Smithfield Terrace	15283	325.43

Note. The housing rent price ratio is around 3% in Hong Kong at year 2015. The housing rent price ratio is a measure of the relative affordability of renting and buying in a given housing market. It is calculated as the ratio of home prices to annual rental rates. This data comes from Chiefgroup of Hong Kong, linked by www.chiefgroup.com.hk_upload/pdf1_20140226170953_BJ_20131230.pdf. The average flat size is 36.5 sqft, according to Housing Authority Annual Report 2014–2015 (www.housing.wa.gov.au/housingDocuments). Daily housing rent = (36.57housing price3%)/(1230). For instance, 676.34 = (3186473%36.5)/(1230).