Empirical Study On The Spillover Effect Of Property Service Quality On The Housing Estate Prices

With the gradual maturity of China's real estate market,the quality of residential property services has attracted more and more attention from all walks of life.For the residents,the continuous improvement of housing prices is accompanied by the continuous improvement of residents' demand for quality of residential property services,and good property affect the quality of life of the owners,which even reflect the owner's class.On the other hand,Because of the value preservation property of residential commodities in a specific period,especially the real estate occupies a relatively large proportion of household assets in China(nearly 70%),property service quality affects housing prices and even affects the residents' wealth level.For the government,the orderly management and fine quality housing estate also constitutes an important part of urban grassroots governance and good life.For developers and property service enterprises,the quality of property service is an important way to maintain the quality of property development and achieve its brand effect.Therefore,paying close attention to spillover effect of property service quality in housing price has important economic,political and social significance.The three elements of"location,brand and property" have a long history in affecting housing prices.About the spillover effect,the most studied area is location and the second is brand.As the downstream industry of real estate development,meanwhile the property service industry has the basic characteristics of the service industry,this particularity makes there are few empirical studies on how the property service quality affects the housing price.So,What is the correlation between property service quality and housing price?What mechanism does this correlation be achieved?For different types of housing,what are the different effects of property services on housing prices?The existing research generally takes the property fee as a variable of property management as a variable into the model,neglecting the phenomenon that the quality of the residential property service has a serious"quality price inconsistency"at present.In order to study the relationship between property management and house price more accurately,this paper tries to construct the effect mechanism of property service quality to house price by combing related theories,and further verifies the correctness of the theory through quantitative analysis of the sampling survey data of residential quarters in Nanjing,and reveals the spillover effect of different quality of property service items to different types of residential housing prices.First,based on the concept of property service quality and the definition and interpretation of the characteristic price theory,combined with the classification of housing characteristics,10 variables including property service quality are selected to construct the characteristic price model,and using the data obtained from the field investigation in the four main urban areas of Nanjing to study the the spillover effect of property service quality on housing prices.Secondly,20 representative residential areas were selected for questionnaire survey in the main urban area by quota sampling in non probabilistic sampling method.Housing prices in Nanjing in combination with reptiles,the questionnaire data are divided into ordinary,middle and upscale district.Based on the characteristic price model,the traffic conditions,the grade of decoration and the property qualification are selected as the control variables,and further explore the spillover effects of the property service quality subdivision variables on the housing prices in different residential types.It is more effective than analyzing the spillover effect of property service quality on housing prices.It is found that the quality of property service in Nanjing has a significant spillover effect on housing prices,the quality of property service is increased by 1%,the housing price rises by 8.5%,and the quality of property service has realized the value added of the house.In ordinary,middle and upscale residential areas,the spillover effect of property service quality subdivision variables on housing prices is different.Through the horizontal comparison,it is found that in general,the spillover effect of upscale residential areas subdivision variables of property service quality on the housing price is greater than that of the middle and ordinary residential areas,and taking the greening status as an example,and the spillover effects of the greening Status on the house price in the regression model of different grades are 1.6%,2.9%and 2.4%.The property qualifications of the three types of property have a significant impact on housing price,of which the ordinary residential areas has relatively low attention to property qualification,and has a significant negative impact on housing prices,the coefficient is-1.3%,and the middle and upscale residential area property qualification has a significant positive impact on house prices,the coefficient is 6.3%and 2.1%.Finally,from the four aspects of the government,inhabitant,the property service enterprises and the property industry,this paper gives some suggestions on building and sharing ideas to actively carry out community governance and improving the quality of property services,so as to achieve a better life in the city.