| Recently, with the deepening reform of the housing market, the problems ofthe reform are gradually revealed. Especially, the housing price which is being thehot topic among citizens, is so high and uncontrollable. On the other hand, sincethe parents improve the requirement of educational resources and the nearestschool policy is increasingly strictly enforced, the high premium rate of schooldistric house has become a common phenomenon. Therefore, how to quantify thecapitalization level of compulsory education resources in house price? How toextract the school factor from so many other influences? How to find out thedistribution rule of the price of residenyial space under the influence of the schoolquality? Based on such social background, this paper try to find out the radiationeffect of compulsory education resources on housing price.Based on the hedonic price theory, the hedonic price model concluding schoolindex factor and the distance factor between school and house has beenconstructed. The improved method of the model is proposed. The implicit price indifferent qualities and distances of school is computed by the constucted model.This paper has provided an idea when studying single influence factor on housingprice. The quantized value of the premium rate of school district house can beestimated through data acquisition software and statistical software.Firstly, the author widely read the domestic and foreign literatures to find themeaningful research directions about hedonic price model and the relationshipbetween compulsory education resource and housing price. Secondly, based on theanalysis of correlation theory, the influence mechanism about the radiation effectsof urban compulsory education resource on housing price is discoveried, includingthe definition of it. Thirdly, according to our country housing market conditions,the housing hedonic price model which including school factors has beenconstructed. Also, the potential problem of the model has been analyzed, and amethod to decrease model endogenous has been put forward.Finally, capitalized level of school on the housing price is quantified by datacollecting and model fitting in the Nanshan District, Shenzhen, indicating that thetwo factors of school index and distance to school have significant impact onhousing price. Judging from the whole market, school index increases1unit, theschool district housing price increases1.5%, while the parameter estimates ofdistance to school increases1km, the housing price increases from2.3%to3.1%.And some findings through market segmentation show that, the price in housing market with stronger rigid demand is more sensitive to characteristics of theschool. |
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