Yu, Po-YenPo-YenYuYU-TING HSU2025-06-172025-06-172025-07https://www.scopus.com/record/display.uri?eid=2-s2.0-105003594608&origin=resultslisthttps://scholars.lib.ntu.edu.tw/handle/123456789/730103The construction of railways has been proven to affect not only transportation but also land values and the potential for gentrification. However, debates persist due to limited studies and unclear benefits of projects related to the renewal of the transport infrastructure. This study examines the impact of railway grade separation on real estate prices and gentrification based on the cases in Taichung and Kaohsiung, Taiwan, using elevated and underground systems, respectively. Through difference-in-differences models and hierarchical clustering with Markov chains, the study analyzes gentrification indices and proximity to railway grade separation projects. Both cities show significant changes in real estate prices, but only Kaohsiung exhibits noticeable shifts in household income, indicating gentrification. The results provide insights for the government in enhanced evaluation of policy feasibility and future project implementation.Difference-in-differencesGentrificationGeographically weighted regressionHierarchical clusteringMarkov chainsRailway grade separation[SDGs]SDG9[SDGs]SDG11journal article10.1016/j.trd.2025.104769