Study On Impacts Of NIMBY Facilities On Housing Price

NIMBY refers to the resistance of the residents to some municipal facilities,whose construction and operation may cause the threat or potential threat to the surrounding ecological environment,the health of the residents,the property value,or just dissatisfaction.And the core of NIMBY is the attitude of the people to certain facilities.With the development of economy and urbanization,awareness of environment and the requirements for high quality of life increases,NIMBY movement has becoming more serious.Therefore,it is of great significance to quantitatively analyze the impact of the impact of NIMBY on housing price,which help evaluate the real estate depreciation reasonably,and study the feasible ways to mitigate the conflicts.Firstly,this thesis clarified the definition of NIMBY and summarized the commonly used hedonic variables.Theoretically,NIMBY facilities affect housing price in two ways,that affect the residents'living experience and reduce the potential investors'desire to buy the house,thus affects the value of the house.Then,this thesis took four typical NIMBY facilities in the downtown area of Xuzhou as the research sample and constructed an Hedonic Price Model with the data of the second-hand housing within 2 km from the facilities to quantitatively analyse the impact of NIMBY on housing price.The main results are as follows:(1)The impact of NIMBY facilities showed a significant negative impact on the housing price,and when the distance between residential and NIMBY facilities reduced by 1 km,the price reduced by 463.8 yuan/m~2,about 6.12%.(2)The impact radius of the NIMBY facility was about 1.55 km,and as the distance increased,the impact became weaker.The greatest impact showed in the range of 0.5 km,that housing price decreased by7.68%every 100 meters.In the range of 0.5-1.1 km,it decreased by 2.98%and0.794%in the range of 1.1-1.55 km.When the distance was far than 1.55 km,the impact showed little effect.(3)In the study based on sub-sample,the impacts of pollution and psychological dissatisfaction NIMBY facilities on housing price are both significant,while the risk clustering and stigma facilities are weak.There were also differences in the impact radius.The polluting facilities showed the largest radius,while the psychological dissatisfaction facilities represented by the cemetery,which has no impact on physical health or environmental quality except dissatisfaction,had a relatively small impact radius.Finally,this thesis proposed some suggestions for mitigating NIMBY conflicts from the perspectives of residents,municipal facilities operators and the government.Besides,based on the empirical results,suggestions for the assessment of asset value loss caused by the impact of NIMBY was proposed.