Meta-analysis of the relationship between high quality basic education resources and housing prices

Zhang, Jingke; Li, Huan; Lin, Jingxia; Zheng, Wei; Li, Heng; Chen, Zhigang

doi:10.1016/j.landusepol.2020.104843

Cited by 32 publications

(22 citation statements)

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“…A key factor valued by home buyers is the educational resources near the house. Zhang et al. (2020a) designed a theoretical framework to analyse the cumulative effect of high-quality primary education resources on housing prices.…”

Section: Resultsmentioning

confidence: 99%

“…A key factor valued by home buyers is the educational resources near the house. Zhang et al (2020a) designed a theoretical framework to analyse the cumulative effect of high-quality primary education resources on housing prices. From the three aspects related to education, namely, location, stage and characteristics, Zhang et al discussed the problem of housing premiums in Chinese school districts.…”

Section: Environmental Dimensionsmentioning

confidence: 99%

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Factors affect the housing prices in China: a systematic review of papers indexed in Chinese Science Citation Database

Jotikasthira

2022

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PurposeThis paper aims to explore the factors that affect housing prices as per Chinese articles indexed in the Chinese Science Citation Database (CSCD). There were different foci regarding what drove housing prices in China in Chinese articles, and international journal articles in English. As most previous English articles only threw light on international research, it motivated the researchers to systematically review Chinese literature’s factors that affected housing prices in China.Design/methodology/approachThis paper reviewed housing price research articles indexed in the two largest Chinese academic research databases: the CSCD and China Knowledge Infrastructure Engineering Database (CNKI.NET). It systematically collected the data and adopted descriptive analysis techniques and synthesis.FindingsThis research reviewed the literature published from 2015 to 2020 and revealed some unique factors affecting China's housing prices. For example, research focused on administrative aspects such as macroeconomic regulation and control (often known as macro control). Authors of Chinese articles suggested that the two-child policy affected housing prices, which differed from that in the English journal articles. The research results implied that researchers should read top Chinese journals on top of good international journals when they study China's real estate market in the future.Research limitations/implicationsBecause the domestic real estate market started late, domestic real estate transaction data and real estate-related statistics are more difficult to obtain. The research is mostly based on the relationship between supply and demand, government policy and individual consumer factors, and the sample has a short time span.Practical implicationsAs China is a planned economy country, administrative factors are one main factor that affects the housing price. There were a significant number of articles in Chinese that considered this factor to be the main driver of the real estate price. It included government investment and macro-control, i.e. direct government intervention to cool down the overheated economy. Yet, there are few English articles that threw light on this factor including the commodity housing supply and government behaviour that affect housing price. The second-child policy, which is unique in China, also played an important role in the determination of the housing price. In the articles indexed in CNKI, the second-child rate, willingness to have a second child or having a second child were mentioned in the Chinese articles but not the English ones.Social implicationsIn this paper, the economic, social, administrative and environmental factors were summarised, which basically covered all the factors affecting housing prices. The administrative factors were a special group of factors that affect the housing price because of the country's planned economic system. Secondly, it provided useful information to real estate development enterprises in China. To make a correct investment and management decision, real estate development enterprises must understand the actual situation and possible problems of the industry. In this study, we analysed the research literature on the real estate industry in China for the period from 2015 to 2020 one by one and determined the influencing factors of the housing price, which provided references for effective cost control. Thirdly, it allows the public to understand and grasp the real estate industry. As the housing price has been continuously increasing, the public pays increasing attention to the real estate industry. Through the literature analysis of the impact of real estate prices, this paper revealed the elements of house price expenses, which makes it convenient for ordinary people to understand the real estate industry.Originality/valueThis study allows foreigners who do not know Chinese to know more about factors that drove housing prices from the Chinese perspective. It also provides insights to overseas developers who wish to enter the property market in China. The results can be generalised to other non-English-speaking real estate research.

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Section: Resultsmentioning

confidence: 99%

Section: Environmental Dimensionsmentioning

confidence: 99%

Factors affect the housing prices in China: a systematic review of papers indexed in Chinese Science Citation Database

Jotikasthira

2022

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“…Residential areas were divided into designated school districts corresponding to nearby public primary and junior middle schools, and it was specified that children living in neighborhoods of school districts were required to enroll in the corresponding schools [56][57][58]. However, houses in school districts have gradually become a manifestation of capitalization for public goods, i.e., the precious popularity of school district housing in China, where the quality of public schools is higher [59,60].…”

Section: The Impact Factors Of Policy Driven By Residential Land Pricesmentioning

confidence: 99%

Exploring the Effects of Contextual Factors on Residential Land Prices Using an Extended Geographically and Temporally Weighted Regression Model

Chai¹,

Yang²,

Zhao

et al. 2021

Land

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A spatial and temporal heterogeneity analysis of residential land prices, in general, is crucial for maintaining high-quality economic development. Previous studies have attempted to explain the geographical evolution rule by studying spatial-temporal heterogeneity, but they have neglected the contextual information, such as school district, industrial zone, population density, and job density, associated with residential land prices. Therefore, in this study, we consider contextual factors and propose a revised local regression algorithm called the contextualized geographically and temporally weighted regression (CGTWR), to effectively address spatiotemporal heterogeneity, and to creatively extend the feasibility of importing the contextualization into the GTWR model. The quantitative impact of contextual information on residential land prices was identified in Shijiazhuang (SJZ) city from 1974 to 2021. Empirical analyses demonstrated that school district and industrial zone factors played important roles in residential land prices. Notably, the distance from a residential area to an industrial zone was significantly positively correlated with residential land prices. In addition, a positive relationship between school districts and residential land prices was also observed. Finally, the R2 value of the CGTWR model was 92%, which was superior to those of ordinary least squares (OLS, 76%), geographically weighted regression (GWR, 85%), contextualized geographically weighted regression (CGWR, 86%), and GTWR (90%) models. These evaluation results indicate that the CGTWR algorithm, which incorporates contextual information and spatiotemporal variation, could provide policy makers with evidence for understanding the nature of varying relationships within a land price dataset in China.

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“…The study's primary purpose is to explore the impact of free-choice schools' quality on surrounding housing values, depending on detailed data for elementary schools, where the elementary school matters more than high school for home buyers or renters, with children driving their preferences for house locations [6][7][8]. Turnbull and Zheng (2021) [2] indicate that 34 out of 42 papers published after 1980 used elementary school quality measures, where the elementary school measures lead to greater capitalization significance than upper secondary school.…”

Section: Introductionmentioning

confidence: 99%

Schools’ Capitalization into Housing Values in a Context of Free School Choices

2022

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The issue of schools and their capitalization in property values has been analyzed extensively. Our contribution is to analyze this effect in an alternative institutional context. In this case study, we analyzed the housing market in Stockholm, Sweden. What distinguishes the Swedish school system is that we have a free choice of schools, which means that a family does not necessarily have to live in a school district to access the schools in that area. This means that families do not have to move to the district to which they intend to send their children but can apply to send them there regardless of whether they live there or not. Nevertheless, families might be interested in living close to good schools to be within walking distance of these schools. This is especially true at the primary school level. Therefore, we analyzed schools’ capitalization in property values in the context of free school choice. We used data on transaction prices for condominiums in Stockholm’s inner city. The results indicate a capitalization of living close to good schools, but this capitalization is limited. We can show that schools’ capitalization depends partly on the quality of the schools and partly on whether or not they are co-located with other externalities, such as green areas. The results also indicate that capitalization is affected by income differences within the city.

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Meta-analysis of the relationship between high quality basic education resources and housing prices

Cited by 32 publications

References 13 publications

Factors affect the housing prices in China: a systematic review of papers indexed in Chinese Science Citation Database

Factors affect the housing prices in China: a systematic review of papers indexed in Chinese Science Citation Database

Exploring the Effects of Contextual Factors on Residential Land Prices Using an Extended Geographically and Temporally Weighted Regression Model

Schools’ Capitalization into Housing Values in a Context of Free School Choices

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