Empirical Study On The Influence Of Old City Reconstruction On Neighborhood Residential Price

The reconstruction of the old city is a necessary and planned reconstruction activity to make all the material living environment of housing,roads,pipe network,decoration that does not adapt to the modern urban social living areas.Between 2007 and 2018,the State Council and local governments issued several documents and notices to promote the reconstruction of the old city,and deploy the old reform tasks.Take Nanchang as an example.In the five years after the release of the Notice on Further Accelerating the Reconstruction of Urban Old Cities(shanty Towns)in 2013,the reconstruction covers a total area of about 47,000 mu,involving about 96,000 residents,and is still promoting the reconstruction process of the old city.The large-scale reconstruction of the old city has directly affected the real estate market,and has also produced a large number of demolition households who urgently need resettlement,leading to fluctuations in real estate prices.Housing prices are closely related to the residents ’living and working in peace and the healthy development of the national economy.It is of great significance to study the impact of the old city reconstruction on the surrounding residential prices.Taking the reconstruction of the old city in the main urban area of Nanchang as the research object,using multi-dimensional data analysis and characteristic price model,the panel data composed of information such as the scope,area,price,structure,neighborhood environment and commercial location of the reconstruction plan in recent years are collected.Based on the analysis of the relevant factors affecting the house price,we focus on the influence of the area of urban village reconstruction and the area of residential land from the reconstruction on the real estate price.Firstly,the influence distance of old change is determined by regression analysis,then the influence of old change area is determined by python regression analysis and three-dimensional data contrast analysis.Finally,the characteristic price model is constructed by obtaining the panel data of Nanchang administrative district,the influence degree of characteristic variable is analyzed,and the policy suggestion is put forward according to the conclusion.The main conclusions of the study are as follows:(1)The impact of the transformation of the old city on real estate prices within 2km is the most significant,in this range of residential housing prices are positive impact of up to 7%.Moreover,the smaller the area of the remodeled plot in the urban center area,the higher the surrounding residential price increase,the larger the area of the peripheral area,the higher the increase in the residential price;The average coefficient showed an upward trend of M-type fluctuation overall,and the degree of influence of the administrative district by the transformation of the old city was from large to small,followed by Qingyun spectrum area,East Lake District,West Lake District,Qingshan Lake Area,and(3)the results of the regression of the characteristic price model after analysis and optimization were found.A total of 6 characteristic variables have a significant effect on price.Significant characteristic variables at 1% were room age,CBD,primary school quality,and year,the most significant of which was the year,followed by primary school quality,CBD,room age,where the year and primary school quality were positive,CBD distance and housing age were negative.Significant feature variables at 10% of the significant level are the quality of secondary schools,residential area,the higher the quality of secondary schools,residential area,real estate prices rise;Real estate prices fell 1.6 per cent.