The Influence Of School's Educational Quality On Second-hand Housing Price

With the rapid development of China's economy,the proportion and importance of education expenditure in household consumption has been greatly increased.Therefore,the price of school district housing has soared to a very high level.This paper studies the formation mechanism of housing price in school district of Jinan,makes a detailed theoretical analysis on the decisive factors of housing price,reveals the relationship of housing price and education resources,and explores the hot issue of education capitalization.I hopes it could provide reference for the setting and execution of housing and education policies in the future.This paper uses the Hedonic price model to analyze the relationship between housing price and education quality.Specifically,this paper selects the key primary schools with high degree of attention in Jinan City as the main research object,combined with the Boundary fixed effect method to make the analysis results more accurate.Then,it adds rent variables to verify the existence of cluster effect.Also,it compares the influence of middle school's and primary school's education quality on housing price in Lixia district.Finally,this paper makes a dynamic analysis of the capitalization of education in Jinan by comparing the data of 2013 and 2017.The empirical results show that the house price is directly proportional to the corresponding quality of primary education,and the house price in key primary school district is higher than other houses.Compared with ordinary primary schools,key primary schools can bring a premium of 3.9-4.2%to the housing price of corresponding school districts.Besides,the housing premium of key primary school districts in Jinan is on the rise slightly,and there are significant differences among districts.According to above results,this paper proposed some recommendations.The government should increase education investment and improve vulnerable schools,encourage building private schools and teachers rotation exchange to carry out benign competition,and set differential property tax to improve the cost of house purchase.