Policy change, amenity, and spatiotemporal dynamics of housing prices in Nanjing

Authors: Feng Yuan*, Key Laboratory of Watershed Geographic Sciences, Nanjing Institute of Geography and Limnology, Chinese Academy of Sciences, Jiawei Wu, Key Laboratory of Watershed Geographic Sciences, Nanjing Institute of Geography and Limnology, Chinese Academy of Sciences, Yehua Dennis Wei, Department of Geography, University of Utah, Lei Wang, Key Laboratory of Watershed Geographic Sciences, Nanjing Institute of Geography and Limnology, Chinese Academy of Sciences
Topics: Urban Geography, China
Keywords: Housing price, policy change, amenity, government intervention, China
Session Type: Paper
Day: 4/10/2018
Start / End Time: 2:40 PM / 4:20 PM
Room: Mid-City, Sheraton, 8th Floor
Presentation File: No File Uploaded


Understanding the spatiotemporal heterogeneity of the housing market is critical for formulating land/housing policies
and achieving sustainable urbanization. This study analyzes the housing transactions at the city, community, and
apartment levels in Nanjing, focusing on the effects of government policy and amenity. We find that housing prices
have appreciated significantly in Chinese cities, and prices also vary within cities. We also find that changes in
government policies, especially policies for the development of new urban districts and public facilities, significantly
influence the spatiotemporal heterogeneity and dynamics of housing prices. Moreover, high-quality schools provided
by governments are evidently exerting an increasing influence on housing values, while proximities to metro stations
and public service facilities also emerge as important factors. We can therefore summarize that housing price variation
within Chinese cities is largely institutionally driven, and the Chinese government is the dominant agent of creating
uneven urban development in China. We suggest that development policies should consider the need and location of
residential areas and improve their access to public facilities to promote intra-urban equality in the housing market.

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