The Effect of School District and Real Estate Policy on Second-Hand Housing Prices in Beijing Based on DID Model

DOI

10.2991/978-94-6463-052-7_150How to use a DOI?

Keywords

Beijing 317 New Policy; second-hand housing; DID model; school district

Abstract

Beijing is one of the major cities in China with soaring housing prices in the past decade, and speculators making price differences from real estate transactions have boosted prices of new house and second-hand homes in Beijing, so that most people with real housing demand cannot afford to own a house. In this case, Beijing has introduced a series of policies to regulate housing prices, among which, Beijing 317 New Policy impact is more extensive. This paper uses the transaction data of second-hand housing in the six core urban areas in Beijing from 2013–2022 to analyze the impact of the school district and the 317 New Policy on the second-hand housing price based on the DID model. The research results show that the 317 New Policy has effectively curbed the rapid growth of second-hand housing prices. Although the second-hand housing price in the high-quality school area has been in a growth state, the 317 New Policy also plays a positive role in the housing price in this area. As a bellwether of national policies, Beijing will have a directional impact on cities across the country. In the next few years, the Chinese government will continue to implement the nationwide slogan “houses are for living in rather than speculation”.

Copyright

© 2022 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Muzhen Li
AU  - Shuyu Lin
PY  - 2022
DA  - 2022/12/27
TI  - The Effect of School District and Real Estate Policy on Second-Hand Housing Prices in Beijing Based on DID Model
BT  - Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
PB  - Atlantis Press
SP  - 1350
EP  - 1359
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-052-7_150
DO  - 10.2991/978-94-6463-052-7_150
ID  - Li2022
ER  -