Research On The Impact Of Public Service Supply On House Price And Land Price

At present,with the rapid development of China's economy and the continuous improvement of the level of urbanization,the population flow between regions has been accelerated,and the population flow has redistributed the housing demand among cities.The level of public service supply in each region has an impact on the population flow and the choice of place of residence,which has a profound impact on the development of local real estate market.At the same time,the imbalance of public service supply in China aggravates the regional differentiation of the real estate market.Therefore,it is of great theoretical and practical significance to study the influence of public service supply level on real estate price.In particular,by studying the difference of the impact of unequal public services on housing price and land price,the problem of mismatch between supply and demand in the housing market is re-understood,so as to reasonably explain the existing regional differentiation in the real estate market,so as to provide some policy Suggestions for the regulation of the real estate market by accelerating the equalization of public service supply.By studying the different influences of public service supply on housing price and land price,this paper mainly analyzes the different influences of different kinds of public service resources and the same public service resources on housing price and land price in different regions and uses panel data of 16 districts in Shanghai for research.Firstly,this paper explains and summarizes the background,significance and research results at home and abroad,and then explains and explains relevant concepts and theories.On this basis,the mathematical model of public service supply and housing price and land price is derived and established.Then,in the third chapter,Shanghai is divided into regions,and the current situation of public service supply and real estate market is described and analyzed.The fourth chapter of empirical analysis is the focus of this paper,first of all,variable selection is explained and sample data is described statistics;Then,dynamic panel GMM analysis was conducted for the housing price and land price models in 16 districts of Shanghai from 2006 to 2016.Empirical study on the main three conclusions: first,in Shanghai as a whole,the three agents in public service supply variable,basic education and health resources have a positive impact on housing prices in different degree,among them the influence degree of the basic education resources than medical resources,while the public green land resource has no marked impact on prices.This is consistent with the actual situation in Shanghai,indicating that basic education resources and medical resources can be capitalized into the housing price.Second,similar public service resources have different impacts on housing price in different regions.From suburb to central city,the level of public service supply has an increasing influence on housing price,and the capitalization degree of public service reflected by it is also higher.From the inner city to the suburbs,the impact of household income on housing prices is also increasing.In addition to medical resources,the impact of the other two types of public service resources in the downtown area on housing prices is higher than that in the suburbs and higher than that in Shanghai as a whole.Third,in Shanghai as a whole,although represented by the fiscal expenditure per capita public service supply has a positive effect on land price,but the basic education,health care,public green space three kinds of public service resources on land are no sound significant effect,this suggests that three kinds of public service resources are difficult to land the capitalization into land price.Finally,according to the conclusions of this paper,several targeted policy recommendations are proposed: First,we will promote equal access to public services on the base of urban population density.Second,we will regulate the real estate market by accelerating the equalization of public service supply.Third,we will balance the development of the housing market in each region of the city by balancing the basic education resources.Fourth,we will through tax reform to increase local government input in public service supply.Fifth,we will reform of public service supply in different regions according to local conditions.As the national first-tier city,the urban public service supply and the real estate market development level of Shanghai has been leading the country,while this article research is limited to the scope of Shanghai,but we believe that with the continuous development of other cities real estate market and the improving of the public service,the conclusions and recommendations apply not only to Shanghai,will also apply to other cities.