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The Effect of Real Estate Ownership on Subjective Well-Being

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  • Michael J. Seiler
  • Yang Zhang
  • Linlin Zhao

Abstract

This paper constructs an ordered probit model and analyzes the relation among urban residents’ owned housing area, property rights, and subjective well-being. The results indicate that from the perspective of property rights, the area of high property right housing has a significantly positive influence on the subjective well-being of urban residents, whereas the area of medium and low property right housing has no significant impact. From a spatial standpoint, in third- and fourth-tier cities, the influence of the self-owned housing area on the subjective well-being of urban residents is significantly positive. In the first-, second-, and fifth-tier cities, self-owned housing area has no significant influence on urban residents’ subjective well-being. Finally, although increasing housing area improves well-being up to a certain threshold, the relative inequality of housing area among residents has no significant impact on urban residents’ subjective well-being.

Suggested Citation

  • Michael J. Seiler & Yang Zhang & Linlin Zhao, 2020. "The Effect of Real Estate Ownership on Subjective Well-Being," Journal of Real Estate Portfolio Management, Taylor & Francis Journals, vol. 25(2), pages 128-137, September.
    • Handle: RePEc:taf:repmxx:v:25:y:2020:i:2:p:128-137
    DOI: 10.1080/10835547.2020.1791646
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