The Impact Of Public Facilities’accessibility On Housing Price

As the public goods, urban public facilities have the feature such as scarcity, the particularity of the location and so on. public facilities is connected with all aspects of people’s basic necessities, with the continuous development of social economy and the increasing of people’s living standard, people pay more and more attention to the quality of the public facilities and convenience.Housing is a kind of heterogeneity goods, due to the different nature of the housing, the price will be different. In general, as the public goods with external positive effect, public facilities has an important influence on housing prices, if houses are close to the public facilities especially high quality public facilities, can enjoy high quality of public service, the housing price is relatively high. Related abroad study, take more consideration of public facilities in terms of time dimension and space distance impact on housing prices, and take less consideration of facility size and attractive impact on housing prices. Domestic scholars’ research about hedonic model is relatively late, and large sample of housing transaction data and related statistical data are difficult to obtain, the influencing factors on the comprehensive consideration relatively lack, the comprehensive quantitative analysis are less. This paper take into account the size and attractions of the public facilities——take commercial facilities as the example, and investigate the accessibility of public facilities’influence for housing prices, in this paper, the main work and conclusions are as follows:(1)This paper introduced the hedonic model, and also carried on the detailed review about the hedonic model in domestic and abroad public facilities evaluation research. On the basis of previous research, Xiamen spatial database and sold residential project in2012, this paper carried on the variable selection and quantitative data. (2)This paper analyzed public facilities layout in Xiamen such as public transportation, education facilities, medical facilities, commercial facilities, cultural facilities, public green space and so on, and analyzed the accessibility of public service. Considering that the public facilities not only affects its surrounding residential prices in the distance, but also in size, this paper take commercial facilities as the example, based on the widely used Huff model in the study of attraction, defines the largest attractive distance of commercial facilities, and calculate the biggest attractive probability distance from Xiamen106housing sample points to the shopping center, integrated supermarkets, department stores, three kinds of one of the commercial facilities.(3)This paper build the hedonic model, analyzed the influence of the public facilities’ accessibility to surrounding residential prices. The residential hedonic model show that:(1)The nearest shopping center, comprehensive supermarket, department store to the houses don’t have significant impact on housing prices, and the biggest attractive probability distance to the shopping center, supermarket, department stores have significant impact on housing prices. Under the invariable limitation of other conditions, the biggest attractive probability distance to the shopping center, supermarket, department stores increased per1km, house prices fell by1.6%,2.7%and1.3%respectively;(2) When I don’t distinguish the primary and secondary school quality, the distance to nearest primary school and secondary school don’t have impact on the housing price, while the key middle school and provincial demonstration primary school have significant effects on housing prices, the distance to the closest key middle school and provincial demonstration primary school increased per1km, house prices fell by3.5%and3.5%respectively;(3)The influence of medical facilities for the housing price is negative, the distance to the nearest hospital reduced by1km, house prices rose by8%.(4)This paper revealed the present situation of housing space differentiation in Xiamen city, discussed macro factors which effected Xiamen housing space differentiation, for example:the geographic segmentation, island polarization development, the unbalanced development of public facilities service level and urban development strategy.This paper further extends the hedonic model application for the housing market in our country, the research methods and quantitative research results can provide a scientific basis and suggestion for the urban public facilities’s value assessment, public facilities optimization configuration and land use development.