Study On The Impact Of Equipped Public Rental Housing On The Value Discount Of Commercial Housing Community

At present,China has pay more and more attention to the housing problem of low-income groups in cities,and advocated that local governments vigorously build affordable housing to alleviate the increasingly prominent housing security problem.The equipped construction of affordable housing in the commercial housing community,which forming a mixed community,is an effective way to solve the housing problem of low-income groups in urban areas and alleviate the contradiction between supply and demand of affordable housing.However,the mixed community formed by government intervention has caused many social problems.Whether it is for developers,buyers,commercial housing owners,or public rental tenants,there are big contradictions among many stakeholders.And the Shenzhen government has been also facing major pressure on the construction of public rental housing.How to alleviate the problems mentioned above has been a top priority.Therefore,this article considered the interests of developers,buyers and public rental housing groups from the perspective of the government.At the same time,author thought about how to use the power of developers to build public rental housing.This research would have reference significance for the government to carry out the construction of public rental housing.The relevant policy recommendations put forward in the article could not only share the task of building public rental housing for the government,but also realize the marketization of public rental housing under the premise of ensuring the maximum benefit of developers.Based on the reality of the equipped construction of public rental housing in Shenzhen,this paper put forward relevant research hypothesis.Firstly,the propensity score matching method was used to study the change of the property value of the residential property in the public rental housing equipped construction community in Shenzhen.Then,using the propensity score matching and questionnaire survey,this paper combined the theory and practice to study the difference in the discount effect of the mixed community inside and outside Shenzhen Special Economic Zone.And then the author proposed the corresponding site selection for public rental housing.Secondly,the author used the least squares method to study the relationship between the discount rate outside Shenzhen Special Economic Zone and the value of commercial housing and the ratio of public rental housing equipped construction.Finally,using the case comparison analysis and the interview investigation method,the author studied the difference of the developers' enthusiasm for bidding for public rental housing projects in central location and remote suburbs outside Shenzhen Special Economic Zone,thus further suggesting site selection for public rental housing equipped construction.The main conclusions of this paper are as follows:(1)From the overall point of view,the commercial housing equipped construction of public rental housing had a discount effect on the value of the residential property,which was significant.(2)The average discount effects were different on mixed residential areas in different locations.The equipped construction of public rental housing had no significant impact on the property value of commercial housing estates inside Shenzhen Special Economic Zone.But it had a significant negative impact outside Shenzhen Special Economic Zone.(3)The commercial housing inside Shenzhen Special Economic Zone was more scarce than that outside Shenzhen Special Economic Zone.And the buyers have acquired a sense of satisfaction,satisfaction and pleasure for the real estate inside Shenzhen Special Economic Zone,which was the main reason for the insensitivity of commercial housing estates inside Shenzhen Special Economic Zone to the equipped construction of public rental housing.(4)For the commercial housing estate outside Shenzhen Special Economic Zone,if the public rental housing would be equipped,the discount rate of the residential area would increase with the increase of the original property value of the residential area.And the larger was the proportion of public rental housing equipped construction,the greater would be the discount rate of the residential area.(5)For the two new land for distribution located in the central location and the suburbs outside Shenzhen Special Economic Zone,if they had the same transfer method and the land nature,and the similar of the land area,the building area and the proportion of the initial public rental housing.The enthusiasm of the developers shown in the auction was higher for the central location.