A STUDY ON THE IMPACT OF THE POLICY OF “SAME RIGHT TO RENT AND PURCHASE” ON THE HOUSING PREMIUM IN SCHOOL DISTRICTS: AN EMPIRICAL STUDY OF GUANGZHOU BASED ON THE SPATIAL HEDONIC PRICE MODEL
HUANG Xiao-yan1, TAN Wei-bao1, KANG Chen-chen1, YIN Jiang-bin1, SU Meng-yuan2
1. Northwest Land and Resources Research Center, Shaanxi Normal University, Xi'an 710119, China;
2. Department of Geography, Durham University, County Durham, DH13DE, UK
Abstract The capitalization effect of school quality has always been an important topic in the research field of the impact of public services on housing market. This article takes the main urban area of Guangzhou as the study area, draws on the idea of boundary fixed effects, and matches the houses in the surrounding school districts of 136 key primary schools in 2016 and 2019 with the houses in adjacent non-school districts. The capitalization effect of educational resources of different quality levels is quantitatively measured by using the spatial hedonic price model. The impact of the policy of "same right to rent and purchase" on housing prices and rent premiums in key primary school districts is tested by using the difference-in-differences model. The research results show that: 1) The quality of education in Guangzhou has been partially capitalized in housing prices and rents, and the higher the quality of educational resources, the higher the capitalization degree. 2) The implementation of the policy of "same right to rent and purchase" has not brought about significant changes in housing prices and rental premiums. 3) There is heterogeneity in the impact of the policy on housing prices of key primary schools with different quality levels. 4) There is no significant difference in the impact of the policy on housing prices and rentpremiums of key primary school districts in different regions.
HUANG Xiao-yan,TAN Wei-bao,KANG Chen-chen等. A STUDY ON THE IMPACT OF THE POLICY OF “SAME RIGHT TO RENT AND PURCHASE” ON THE HOUSING PREMIUM IN SCHOOL DISTRICTS: AN EMPIRICAL STUDY OF GUANGZHOU BASED ON THE SPATIAL HEDONIC PRICE MODEL[J]. HUMAN GEOGRAPHY, 2022, 37(5): 42-52.
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2022, Vol. 37 
