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
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.