The Impact of Water Body Restoration on the Sales and Rental Markets in Beijing

IF 1.3 4区经济学 Q3 ECONOMICS

Land Economics Pub Date : 2023-03-22 DOI:10.3368/le.99.4.041322-0030r1

Yingdan Mei, P. Liu, Li Gao

引用次数: 0

Abstract

Black and odorous water bodies (BOWBs) are increasingly common in cities worldwide. This article evaluates the impact of an urban water bodies restoration program in Beijing, China, based on detailed housing sale and rental transaction data. We implement a hedonic price model with a difference-in-difference and a triple-difference approach and find that listing and restoring a BOWB significantly increase house prices by 2.2%–3.9% and 2.3%–4.9%, respectively, and increases rents by 11.3%–13.7% and 13.4%–16.9%, respectively.

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水体修复对北京销售和租赁市场的影响

黑臭水体在世界各地的城市中越来越普遍。本文基于详细的房屋买卖和租赁交易数据，评估了中国北京城市水体修复项目的影响。我们实施了一个具有差异和三重差异方法的特征价格模型，发现挂牌和恢复BOWB会使房价分别显著上涨2.2%–3.9%和2.3%–4.9%，租金分别上涨11.3%–13.7%和13.4%–16.9%。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Land Economics Multiple-

CiteScore

2.60

自引率

0.00%

发文量

期刊介绍： Land Economics is dedicated to the study of land use, natural resources, public utilities, housing, and urban land issues. Established in 1925 by the renowned economist and founder of the American Economic Association, Richard T. Ely at the University of Wisconsin, Land Economics has consistently published innovative, conceptual, and empirical research of direct relevance to economists. Each issue brings the latest results in international applied research on such topics as transportation, energy, urban and rural land use, housing, environmental quality, public utilities, and natural resources.