Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Evaluating the Impact of Housing Restriction Policy on Urban House Prices with the SDPD Model
The paper utilizes generalized spatial dynamic panel data model to investigate the influence of housing restriction policy to urban housing price and its temporal-spatial characteristics based on monthly urban housing price panel data set of 35 metropolitan areas from 2008 to 2016 in China. Empirical analysis shows that: (1) housing sales area, new starts area, and consumer price index are the main influence factors for the change of urban housing price; (2) while housing restriction inhibits demand and leads to price drop in a short term, it also causes drop of developer supply. As a result, instead of inhibiting the housing price, the restriction policy spurred the further rise of housing price in a long run due to the imbalance between supply and demand caused by the policy. Strongly temporal dynamic inertia effect and spatial regional correlation characteristics exist on the urban housing price.
Evaluating the Impact of Housing Restriction Policy on Urban House Prices with the SDPD Model
The paper utilizes generalized spatial dynamic panel data model to investigate the influence of housing restriction policy to urban housing price and its temporal-spatial characteristics based on monthly urban housing price panel data set of 35 metropolitan areas from 2008 to 2016 in China. Empirical analysis shows that: (1) housing sales area, new starts area, and consumer price index are the main influence factors for the change of urban housing price; (2) while housing restriction inhibits demand and leads to price drop in a short term, it also causes drop of developer supply. As a result, instead of inhibiting the housing price, the restriction policy spurred the further rise of housing price in a long run due to the imbalance between supply and demand caused by the policy. Strongly temporal dynamic inertia effect and spatial regional correlation characteristics exist on the urban housing price.
Evaluating the Impact of Housing Restriction Policy on Urban House Prices with the SDPD Model
Li, Juan (Autor:in) / Yang, Qiao (Autor:in) / Wan, Kun (Autor:in)
International Conference on Construction and Real Estate Management 2018 ; 2018 ; Charleston, South Carolina
ICCREM 2018 ; 287-297
08.08.2018
Aufsatz (Konferenz)
Elektronische Ressource
Englisch
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