The Effect of Regulation Policy on Housing Prices in Areas Surrounding Beijing: An Empirical Study of Langfang Real Estate Regulation Policy

DOI

10.2991/iceemt-18.2018.54How to use a DOI?

Keywords

Real estate market around Beijing; Real estate regulation policy; Policy effect; DID

Abstract

In the first half of 2016, in order to reduce the number of unsold homes, Chinese central government continued to implement stimulus policies in real estate market, making real estate market in first-tier and hot second-tier cities overheat. Meanwhile, the real estate markets in some satellite cities around core cities are also heating up rapidly, especially the area around Beijing. In April 2016, Langfang, a city close to Beijing, introduced real estate regulation policies to curb the excessive rise of housing prices. This paper applies difference in difference method (DID) to evaluate the actual effect of the real estate regulation policies in Langfang real estate market using the data from October 2015 to December 2016. The results show that house purchase restrictions in Langfang don’t reduce the growth rate of new housing prices and expected growth rate of second-hand housing prices during sample period. The growth rate of second-hand house prices reduces by 2.827 percentage point during sample period. However, the absolute prices of second-hand house don’t decrease.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Zhenyang Qin
PY  - 2018/12
DA  - 2018/12
TI  - The Effect of Regulation Policy on Housing Prices in Areas Surrounding Beijing: An Empirical Study of Langfang Real Estate Regulation Policy
BT  - Proceedings of the 2018 3rd International Conference on Education, E-learning and Management Technology (EEMT 2018)
PB  - Atlantis Press
SP  - 281
EP  - 286
SN  - 2352-5398
UR  - https://doi.org/10.2991/iceemt-18.2018.54
DO  - 10.2991/iceemt-18.2018.54
ID  - Qin2018/12
ER  -