Land Supply and Capitalization of Public Goods in Housing Prices: Evidence from Beijing
19 Pages Posted: 2 Sep 2014
Date Written: September 2014
Abstract
This paper studies the extent to which spatial heterogeneity in housing prices is affected by housing supply in Beijing's specific context of centralized metropolitan government without local property tax. Taking data sets of residential land leases and private housing sales records from 2006 to 2008 within Beijing's metropolitan area, this paper examines how the capitalization of school quality and subway accessibility in housing prices varies with land availability instrumented by the employment density of state‐owned enterprises (SOEs) at the beginning of SOE reform. Results confirm that the capitalization of school quality and subway accessibility is larger in supply‐constrained locations.
Suggested Citation: Suggested Citation
Siqi Zheng (Contact Author)
Samuel Talk Lee Professor of Urban and Real Estate Sustainability, Faculty Director of MIT Center for Real Estate ( email )
Building 9-323
Cambridge, MA 02139
United States
HOME PAGE: http://https://siqizheng.mit.edu/
Do you have a job opening that you would like to promote on SSRN?
Land Supply and Capitalization of Public Goods in Housing Prices: Evidence from Beijing
This is a Wiley Blackwell - Medium Tier paper. Wiley Blackwell - Medium Tier charges $49.00 .
File name: JORS.pdf
Size: 0K
If you wish to purchase the right to make copies of this paper for distribution to others, please select the quantity.
