文章基本信息

标题：Research on the Impact of Air Pollution on the Real Estate Market-Take Shanghai’s Residential Commercial Housing Market as an Example
其他标题：Research on the Impact of Air Pollution on the Real Estate Market-Take Shanghai’s Residential Commercial Housing Market as an Example
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作者：Yajing Li
期刊名称：E3S Web of Conferences
印刷版ISSN：2267-1242
电子版ISSN：2267-1242
出版年度：2020
卷号：218
页码：4022
DOI：10.1051/e3sconf/202021804022
出版社：EDP Sciences
摘要：Based on urban economics, behavioural economics and western economics theory, we analysed the effects of air pollution on the real estate market through VAR model and IRF using the AQI and the residential commercial housing market data from January 1, 2015 to June 30, 2020. We found that there is intrinsic link between changes in air pollution levels and changes in real estate market. When air pollution levels increase, it will have a sustained inhibitory effect on housing price and housing turnover. The effect on housing price will last about 5 months and the effect on housing turnover will last about 2 months. After having a comparative analysis of the IRF of the average price in six jurisdictions in Shanghai we found that inhibitory effect which air pollution impact on real estate market has different forms of expression. Residents in areas with relatively poor air quality are more willing to pay for clean air and housing transactions in areas with relatively good air quality are more sensitive to air pollution.