The submarket effect of rail transit on surrounding property value increment is analyzed quantitatively based on the investigation of Wuhan Metro Line one using hedonic price model.The results show as follows:(1) The submarket effect of the rail transit influencing on nearby housing prices is significant.Within a radius of 400 meters, the growth rate of the surrounding housing prices in phase 1 of the metro project is more than that in phase 2, whereas the growth rate of property value in phase 2 is more than that in phase 1 beyond a radius of 400 meters. (2) The spatial effect of the influenc...