为清洁空气买单?空气质量对我国房地产价格的影响研究

Pay for clean air or not?The impact of air quality on China's real estate price

自2013年中国国家环境保护部开始检测PM2.5指数以来,空气质量对国民经济的影响日益受到重视.雾霾现象已经蔓延到全国各地,其是否会影响房地产价格?本研究基于我国280个地级市2002-2016年的数据,运用空间计量模型实证检验了空气质量对房地产价格的影响,并分别从不同时期及不同区域层面进行了异质性分析.研究得出,房价和PM2.5浓度在全国的分布存在空间聚集效应.从全国范围看,空气质量会对房价产生负向作用,PM2.5浓度每上升1个单位,造成房价下降0.37%.不同时间阶段空气质量都对房价存在影响,但在宏观调控加强时,空气质量的影响效果会被削弱.从区域层面看,经济发展水平的差异会影响空气质量对房价的作用效果,经济越发达的地区空气质量对房价的影响越强.

Since the Ministry of Environmental Protection of China began testing the PM2.5 index in 2013,the impact of air quality on the national economy has received increasing attention.The haze has spread to all parts of the country.Does it affect real estate prices?This paper uses spatial econometric model to empirically examine the impact of haze on urban house prices,and make heterogeneity analysis at different regions and different periods,based on the data of 280 prefecture-level cities in China from 2002 to 2016.The main conclusions include:The spatial aggregation effect of house price and PM2.5 concentration distribution across the country.From a national perspective,PM2.5 concentration will have a negative effect on house prices.For every 1 unit increase in PM2.5 concentration,house prices fell by 0.37%.Air quality has an impact on house prices at different time periods,but when macroeconomic regulation is strengthened,the effect of air quality will be weakened.From a regional perspective,the difference in economic development level will affect the effect of air quality on house prices.The more economically developed regions,the stronger the impact of air quality on house prices.