焚烧发电厂与小区月度房价: 提升抑或降低

Trash Burning Power Plants and Residential Communities'House Prices Surrounding Them:Rising or Falling

本文考察了江苏、浙江、安徽三省2018年各月份建成的42座垃圾焚烧发电厂对各自县区内小区月度平均房价产生的影响。研究发现,垃圾焚烧发电厂在短期内显著提升了房价,作用范围在2.7%~3.3%或295~361元/平方米之间。同时,县区级月度平均房价、月度GDP以及居民环境保护关注度这三个机制,可以联合解释房价变动的42.5%。当距离小区4公里以内或位于其上风向时,垃圾焚烧发电厂的房价提升效果不再存在。本文结论证实了居民对房产贬值的担忧仅存在于邻避区域之内。

This paper investigates the causality between the trash-burning power plants and the residential communities'house prices surrounding them.We manually collect the monthly average house price data of the residential communities around 42 trash-burning power plants in three provinces of China,including Jiangsu,Zhejiang,and Anhui.The empirical results show us that the trash-burning power plants can significantly increase housing prices of the surrounding residential communities,with a range of 2.7-3.3%,or 295-361 CNY per square meter.At the same time,the three indirect mechanisms we test,including county-level monthly average house prices,county-level monthly GDP,and county-level environmental protection concerns of the residents,can jointly explain 42.5%of the house price changes.However,when the residential communities are located less than 4 kilometers from the trash-burning power plants or located in the upper wind,the effects of house price will no longer exist.The conclusion of this paper confirms that the residents'concerns about real estate depreciation only exist within the limited scope of risky areas.