教育资源供给能够降低学区房溢价吗?——来自北京市新建小学的证据

Does School Supply Reduce School District Housing Price Premium?——Evidence from Newly-Built Primary Schools in Beijing

本文以北京市2012—2016年新建小学为例,实证分析了学校供给对学区房溢价的影响效果。研究发现:第一,新建小学使得周边原有学区房的溢价率显著下降了2.33个百分点,这一影响具有明显的本地化和异质性特征;第二,学区房市场存在同群竞争现象,优质教育资源的供给能够显著降低本地区重点小学学区房的溢价率;第三,学校/学区房供给对城市平均住房价格的影响主要受到学区需求价格弹性的影响,当学区的需求价格弹性较小时,随着学区房数量增加城市的房价仍然会上升。

Using data of second-hand home sales records and newly built primary schools over the period 2012-2016 in Beijing,we study the impact of school supply on school district housing price premium and find that:(1)Newly-built schools reduce the housing price premium by 2.33%for existing schools,but the effect dramatically decreases with distance;(2)New key primary schools significantly reduce housing price premium for existing key schools;(3)The impact of school or school-district housing supply on city’s average housing price is mainly affected by the price elasticity of demand for school district.