| Since the beginning of the 21st century,China’s economy has further developed on the basis of the reform and opening up in the last century,and the material living standards of the people have been improved by leaps and bounds.However,due to China’s current national conditions,educational resources are in short supply relative to the huge population demand,and there are great regional differences in their distribution.Under the dual pressure of the exponential rise in housing prices in firsttier cities and relatively few high-quality primary school degrees in educational resources,in order to provide the next generation with good educational conditions,in the hope that they will have more room for school choice in the future under the background of exam-oriented education,many parents The purchase of school district housing near high-quality schools to ensure the quality of education for children in primary school has significantly raised the price of housing with school district places,leading to the current "school district housing" boom.The phenomenon of school district housing is an important part of today’s social housing market.Judging from the popularity it has caused,buyers do not simply decide the investment price based on properties such as the area and location of the property,but pay more attention to its degree value attribute.Therefore,many scholars have begun to explore the influence of school district location on purchasing behavior.The school district factor has become an important variable in the study.Many scholars have tried to measure the proportion of school district factors in housing prices.The fundamental reason for the formation of the school district housing price mechanism is that the policies such as "key schools" and "nearby admissions" are combined with each other through the process of housing market-oriented reforms.house price difference.The difference in the quality of education caused by the different government investment is ultimately reflected in the price of real estate with degree attributes,reflecting the unequal distribution of educational resources.Based on this,the hypothesis of this paper is proposed.This article is based on the reform measures of the "multi-school division" degree distribution method issued by the Beijing Municipal Education Commission since 2018,and mainly studies the reform policy issued on April 30,2020 in Xicheng District,Beijing: school district housing purchased after July 31,2020 Degrees entered the“multi-school zoning” model when choosing a school in the second year.The official implementation of this policy had a series of capitalized impacts on housing prices in Beijing’s Xicheng District and Dongcheng,Chaoyang,Haidian and other districts.Based on the hedonic price method and the capitalization theory of public goods,this paper studies the housing premium rate in Beijing school districts.The policies of "key schools" and "enrollment near the nearest school" are combined through the process of housing market-oriented reform,so that school differences are integrated with housing and become their own properties,and school differences are transformed into school district housing price differences.The difference in the quality of education caused by the different government investment is ultimately reflected in the price of real estate with degree attributes,which is also the fundamental reason for the formation of the school district housing price mechanism,that is,the unequal distribution of educational resources.Based on this,the hypothesis of this paper is put forward..In the selection of experimental samples,fifty key primary schools in four educationally strong districts,Xicheng,Dongcheng,Haidian,and Chaoyang,were selected,and the school districts covered by all primary schools in the sample were studied as a whole.In terms of data collection,using python crawlers and manual search for databases,etc.,on the intermediary real estate transaction websites such as Lianjia,Anjuke,and Shell House,collect the real estate transaction data of Beijing in 2020 and analyze the existing school district housing transaction data.After screening,9524 pieces of real estate transaction data in the experimental group and 38,396 pieces of non-school district real estate transaction data in the control group were obtained.In terms of empirical research,this paper chooses the double-difference model to focus on the impact of the "multi-school zoning" policy on school district housing prices,breaking through the traditional way of using the classic hedonic price model to evaluate school district housing.The results of the study show that this change in Beijing’s education policy has cooled the "housing fever in school districts".(1)After the implementation of the multi-school zoning policy,housing prices in the four educationally strong districts of Beijing,namely Dongxicheng,Haidian and Chaoyang,which were originally key primary schools,will be significantly reduced.The empirical study shows that the premium rate of houses in school districts in the region will drop by 6.27% compared with that before the implementation of the multischool zoning policy.After adding all relevant control variables,the expected range of house prices in school districts affected by the policy will drop by 6.41%.In terms of absolute value,it can be seen that this policy adjustment has a negative impact on housing prices in school districts that cannot be ignored.(2)Due to the large number of key primary schools corresponding to housing in Xicheng District,the gap between degrees and students is larger.Compared with the other three districts,the problem of “highly expensive school district housing” is more serious.After the official implementation of the policy,for Xicheng District,the introduction of the current round of educational resource allocation adjustment policy has made the expected rate of decline in the price of school district housing within the jurisdiction to be 11.23%,while the expected range of housing price decline in the other three districts is 5.72%.Under the condition that the control variables remain unchanged,the decline in housing prices in the Xicheng District is nearly twice that of the other three districts,which is enough to show that the Xicheng District has been more affected by the impact of this round of policies.(3)The introduction of this round of educational resource allocation adjustment policies has resulted in an average price drop of 7.05% for units with higher price per square meter in school districts,and an average drop of 3.42% for units in school districts with lower price per square meter.Under the condition that other control variables remain unchanged,the decline in the unit price of the school district with the higher price per square meter is more than twice the corresponding range of the unit price of the school district with the lower price per square meter,indicating that the school district with the higher price per square meter is more expensive than School district housing with a lower price per square meter will have more significant price fluctuations when faced with the same negative policy impact.Finally,in view of the macro-level changes in the housing market premium rate in Beijing school districts after the impact of this policy,this paper puts forward suggestions for the current and future multi-party participants in the Beijing school district housing market. |
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