Research On The Influence Of Large-scale Games On Housing Price Of Host City

There are more and more large-scale sports and events with the development of the world economy and national strength,it's not only has a major impact on the host city's social,economic,cultural,environmental and other aspects,but also the impact on the local host city's real estate market cannot be ignored.Over-high house prices before the events or sharp decline after the events will go against the city's economic development and social stability,and it's all because the host city has big sports game.At present,the research on the influence of large sports games on housing prices made by scholars at home and abroad are focused on the changes in housing prices before and after the large-scale sports,and they use the analogy methods to analyses the impact of large-scale games on housing prices mostly.In addition,some scholars began to adopt some mathematical models,like Hedonic model and grey model theory,to quantitatively analyze the impact of large-scale games on housing prices,and got the specific influence value.However,these mathematical models still have some problems,for example,it cannot cast off the influence of other factors in the same period and so on,moreover,and the current research doesn't involve the impact mechanism of large-scale sports on housing prices,which makes the analysis of data calculation lack of theoretical support.This article takes Nanjing youth Olympic Games as an example,qualitatively describes the influence mechanism of large-scale sports meeting on the housing price of the city.And then quantitatively calculates the actual size of the impact on the housing price of Nanjing by using double difference model.Research results show that the impact of large games on cities is summed up in two main aspects:First,the impact on urban development planning and the impact on urban infrastructure.In the end,large-scale sports meeting affects house price by improving the psychology prejudgment of house buyers,changing the relationship between the market supply and sales,and raising the cost of land.Furthermore,this paper makes an empirical analysis of Nanjing youth Olympic Games by using double difference model:The impact coefficient of Nanjing Youth Olympic Games on Nanjing housing prices reached 5.71%.In addition,the calculation results also show that the first two years of hosting the Youth Olympic Games in Nanjing did not have a substantial impact on housing prices,for the initial planning during the period of hosting the Youth Olympic Games has not yet been implemented,and it cannot bring visible benefits to the surrounding real estate market.Until the third year,the Youth Olympic Games will have a significant impact on housing prices as all the facilities are gradually opened and put into place.Youth Olympic Games begin to form an effective impact on housing prices.Finally,this paper gives some suggestions on the post-game effect of large-scale sports games and forecasts relevant research fields in the future:The impact of the Youth Olympic Games on housing prices is partly to change the psychological anticipation of buyers,however,few studies have been done in this field,it can be in-depth study through the interview or questionnaire survey of buyers in the future.