| Recently, with the urban residents in China having the increasing standard of living, the demand for people has been beyond the basic necessities of life, and pursuing a higher level of spiritual needs, such as education. On the other hand, with the great differences of the primary school teaching quality which is causing by the imbalanced allocation of educational resources, the demands of the parents to the high quality education resource has been greatly increasing. Additionally, with the school district scribing policy which is increasingly strictly enforced causing the serious contradiction between supply and demand, the high premium rate of school district house has become a common phenomenon. Therefore, researching the influence of key primary school and impact mechanism, it has a very important theoretical and practical significance for reasonable explaining the housing price of supporting education, guiding the Real Estate developers pricing the house, correctly guiding the consumer demand.Adopting the hedonic price model which has been widely used in the real estate market research in conducting a case study of Kunming, the author empirically analyzed the quality of the educational resources and the housing prices in four districts of Kunming. Firstly, the author widely read the domestic and foreign literatures to find the meaningful research directions about hedonic price model and the relationship between compulsory education resource and housing price. Secondly, based on the analysis of correlation theory, discuss the influence mechanism about the urban compulsory education resource on housing price. Thirdly, according to our country housing market conditions, the housing hedonic price model which including school factors has been constructed.In the overall market, it can get a significantly results for house price which has two factors of whether in the key primary school district or not and the distance to the school by quantifying the degree of capital of school on housing price. If only in the scope of high-quality school district, the house price would increase 21.3% while the distance to school increase 1km and the value of primary school decrease 2.9%.In other words, as the exporter of high-quality education, the exemplary schools have immense influence on the prices of the adjacent houses.The more demands for house price market, the higher price for sensibility in the character of school which divided by market square. Otherwise, in the view of administrative area, the high-quality school has the spatial difference on adjacent house price. Meanwhile, the level of educated capitalization is different in the four main urban areas of Kunming, as the capitalized effects which the high-quality primary school in the district of Wuhua district is highest among them.As for the understanding of the educational "capitalization", a dialectical perspective should be adopted. On the one hand, the educational “capitalization” achieves the high effective allocation of educational resources which makes the high income family enjoying high-quality educational resources; on the other hand, the educational “capitalization” has tilted the fair balance of educational resources allocation which exclude children of low-income families out of the field of high-quality education. Thus, avoiding these problems and balancing the high-efficiency with fairness of educational resources allocation, shared community efforts should be spared. |
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