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The Influence Of High Quality Primary Schools On Ordinary Housing Prices And Rents

Posted on:2017-03-07Degree:MasterType:Thesis
Country:ChinaCandidate:W JiangFull Text:PDF
GTID:2297330488986280Subject:Land Resource Management
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It is required by the compulsory education law of the People’s Republic of China that children and adolescents who are school-age have to go to the nearest school which is in census register seat. That’s why the concept of the school district room is popular in today’s society in which people become more thoughtful about the education investment. By buying the house in school’s attendance zone, parents help their children have the right to accept basic education of high quality. Through cooperating with elite schools and hyping the selling point of the concept of "the school district room", property developers promote sales, and push up house prices... In fact, compared with the ordinary housing, the school district room tends to have higher price and rise faster. That’s to say, the influence of real estate is more and more obvious in basic education resource configuration. These all reflect that the the ordinary housing prices are affected by the key primary schools. In addition, more and more children of migrant workers can enjoy the city’s public education resources since 2008.And some key primary schools open the door to children of migrant workers. Most of the migrant workers rent instead of owning a house, but their children can still enjoy school education resources which are for the houses they rent. This change may affect the rent around some schools. So what’s the influence of primary schools of high quality on ordinary housing market on the basis of house prices and rents? From a micro point of view, the answer is of guiding significance for property developers to set the price and for the consumers to buy houses; From a macro point of view, the answer is of great significance for the government to formulate reasonable education and housing policies and to distribute public resources effectively so as to promote social harmonious development.Based on this, this paper takes 9 key primary schools and 29 less elite schools in Jiangan district of Wuhan city as an example and combines the theoretical analysis and empirical analysis to compare the different effects on house prices and rent which are brought by those different schools through the establishment of hedonic model so as to illustrate the capitalization of high quality education resources. The data of the whole research are divided into two categories. The first one is the data of sale prices of the second-hand housing which are processed. The second one is the rental prices of the second-hand housing. The levels of the research are divided into three parts:provincial level demonstration elementary schools, city-level demonstration elementary schools and ordinary elementary schools. Through the comparison of the results, this paper can show the influence of key primary schools on the ordinary housing prices and rents better because of three kinds of research levels and two types of data. The results show that in terms of quality of school, every change of one unit will make the housing price increase 395.173 yuan per square meter, while the rent increase 176.222 yuan per month; In terms of school distance, shorten 1 km will make the housing price increase 627.107 yuan per square meter, while the rent increase 115.664 yuan per month. Though the influence which primary schools of high quality brought to the housing price is greater than the influence which brought to the rent, you cannot deny that the general housing rental market has been affected by education resources capitalization..
Keywords/Search Tags:School district housing premium, the capitalization of high quality education resources, ordinary housing market, hedonic price model
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