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Land Supply And Capitalization Of Public Goods In Housing Prices: Evidence From Beijing

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  • Anping Chen
  • Marlon Boarnet
  • Mark Partridge
  • Siqi Zheng
  • Weizeng Sun
  • Rui Wang

Abstract

type="main"> 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.

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  • Anping Chen & Marlon Boarnet & Mark Partridge & Siqi Zheng & Weizeng Sun & Rui Wang, 2014. "Land Supply And Capitalization Of Public Goods In Housing Prices: Evidence From Beijing," Journal of Regional Science, Wiley Blackwell, vol. 54(4), pages 550-568, September.
    • Handle: RePEc:bla:jregsc:v:54:y:2014:i:4:p:550-568
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