Neighborhood Quality and Housing Value: Evidence from Urban Micro Data

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Citation

Wang, Yi; Ran, Ruiping; & Deng, Guoying (2012). Neighborhood Quality and Housing Value: Evidence from Urban Micro Data. Journal of Management and Sustainability, 2, p128.

Abstract

Using urban residential micro data from CHNS, this paper employs Hedonic Pricing Model to investigate the impact of Neighborhood Quality on housing value and its mechanism. We find that, Human Capitals measured by average schooling years and occupational diversity have significant positive effect while cultural capitals such as Ethnic Diversity have significant negative effect on housing value. Compared with the empirical results from developed counties, Social Capitals measured by length of tenure and own room rate have insignificant effect on housing value. In addition, having Kindergarten and Hospitals near the communities are positively correlated with the housing value while Internet cafe or transportation services are negative. We believe that these facts are closely related to the stage of economy transition and rapid urbanization in current China. The conclusions have important implications for the effective construction of harmonious commodities.

URL

http://dx.doi.org/10.5539/jms.v2n1p128

Reference Type

Journal Article

Year Published

2012

Journal Title

Journal of Management and Sustainability

Author(s)

Wang, Yi
Ran, Ruiping
Deng, Guoying