城市公共服务水平、土地供给弹性与住宅价格——来自南京市的经验证据

公共服务水平是城市竞争力的重要体现,也是吸引劳动力流入的重要因素,同时,作为政府提供的主要公共物品,住宅所享有的公共服务水平往往影响居民对其的消费意愿.本文利用南京市江南八区的调查数据,构建特征价格模型考察住宅特征变量、公共服务水平对住宅销售价格的影响.实证结果表明:(1)住宅物理特征是影响其销售价格的重要因素,房间数目、大厅数目等特征变量的提高将显著提高销售价格;(2)公共服务对住宅销售价格呈现一定的资本化现象,教育公共服务对住宅销售价格的影响最大;(3)随着土地供给弹性的提高,公共服务对房价的资本化呈现下降趋势.因此,政府对公共服务的投入应注重城市内部各区域之间的均等化,以实现既提高居民的生活水平,又避免对某些区域的房地产市场造成较大的冲击.     

经历共振——住宅地产开发对广州城市建设的影响

城市几何重心转移 在广州城市建设过程中，住宅房地产开发对城市空间起了相当大的影响，尤其是1990年代进入市场经济时期和土地市场开放以来，大量房地产开发企业的住宅房地产开发对广州城市空间结构的影响更为深刻。     

影响我国房地产价格的因素分析

房地产价格作为房地产经济价值的货币表现形式,面对近年来房地产价格的持续上涨,对房地产价格影响因素进行分析,不仅具有现实的理论意义,而且在实践上可以为政府制定政策、加强对住宅房地产的宏观调控起指导作用,有利于住宅房地产市场的持续、稳定、健康发展.本文依据房地产价格的构成,从经济、金融、税收政策等方面对影响我国房地产价格的主要因素进行分析.     

新加坡：用“组屋”调控市场

新加坡是一个城市型国家,土地资源匮乏,但新加坡通过大力发展由政府投资兴建的“政府组屋”,不仅满足了居民的基本住房需求,也避免了开发商在房价上恶意炒作,在房地产市场发展中走出了一条独特而成功的道路。新加坡的民用住宅房地产市场主要由“政府组屋”和商品房两部分组成“。政府组屋”类似于中国的经济适用房,由政府投资修建,价格由政府统一规定,以低价出售或出租给中低收入阶层。居民在购买“组屋”时,获得其99年的所有权。商品房包括高级公寓和私人住宅,由私人投资修建,按市场价格发售,主要面向高收入者。据悉,在过去40多年的时间里,…     

美国和中国房地产市场的比较分析(二)

二、中国房地产市场中国的房地产市场是在房地产尤其是土地公有制基础上运作的政府主导型市场.在中国,进入市场的城市土地全部为国家所有;城市住宅房产80%以上,非住宅房产95%以上为国家或国营和集体企事业单位所有.这决定了中国现阶段的房地产市场交易主体是包括政府、企业(国营、集体、外资企业)和个人的多元主体,其中政府对房地产市场的运行起着主导的作用;市场上的交易客体主要是城市土地使用权和各种房屋产权.     

城市价值在住房价格中的显性化及其政策含义——对中国35个城市住宅价格的实证研究

在中国,劳动力在城市间流动性的逐渐增强使得居民能够自由选择居住城市,这种居民在城市间的重分布促使房价被重估,更准确地反映居民对于城市价值(包括城市经济发展质量和城市生活质量)的支付意愿.本文对中国35个大中城市的实证研究表明,在我国城市住宅市场中,城市价值已经被很显著地资本化到房价当中.城市居民的劳动收入水平越高,或者城市生活质量越好,城市的房价就会越高.这意味着,人们愿意为居住在一个城市所支付的成本(即房价),取决于他们能够在这个城市里获得怎样的经济收入和发展机会,以及享受怎样的生活质量.本研究还发现,在早期,城市生活质量要素在房价中是被低估的,向合理水平的收敛过程会带来房价的上升.同时,收入要素对房价的贡献度在下降,而城市生活质量要素对房价的贡献明显上升,表明居民在选择城市时更加重视城市的自然环境和城市政府提供的公共服务的质量.     

我国房地产企业融资现状及问题

房地产企业是非常典型的资金密集型企业,房地产开发所需资金量大,资源占用多,对房地产公司来说,没有资金就没有房地产开发.我国房地产企业融资渠道较单一,对银行金融支持依赖过高,如何突破传统融资渠道局限造成的房地产业发展瓶颈,建立符合我国国情、并且适应市场发展需要的房地产企业融资模式,是当前促进房地产企业健康发展的重要课题.     

太原市住宅房地产中环快速路效应研究

本文以太原市住宅房地产价格为研究对象,构建住宅房地产价格特征指标体系,以期更为准确的预测周边商品住宅价格波动,为政府宏观调控政策的制定提供可靠的依据。     

城市综合体开发模式初探

伴随我国房地产市场的不断发展,一种新型房地产开发模式——城市综合体开发悄然兴起。虽然城市综合体开发是以造城的方式进行房地产综合开发,改变了传统或住宅或商业的单一开发形式属于一种新型的房地产开发模式,但从万达广场、华润万象城等城市综合体开发项目的成功案例中,不难预见,城市综合体开发将会对我国房地产市场的健康发展产生深远的影响。     

城市综合体开发模式初探

伴随我国房地产市场的不断发展,一种新型房地产开发模式——城市综合体开发悄然兴起。虽然城市综合体开发是以“造城”的方式进行房地产综合开发,改变了传统或住宅或商业的单一开发形式属于一种新型的房地产开发模式,但从万达广场、华润万象城等城市综合体开发项目的成功案例中,不难预见,城市综合体开发将会对我国房地产市场的健康发展产生深...     

The political economy of housing prices: Hedonic pricing with regression discontinuity

This paper uses hedonic pricing to empirically estimate the value of publicly provided local goods and services in the constituencies of the ruling party relative to those of the opposition parties. To improve control for omitted variables that change smoothly over space, we use a regression discontinuity design to restrict the sample to houses that are near the electoral boundaries. Using resale market prices of public flats in Singapore, in some cases we find a moderate but highly statistically significant difference in housing prices across the electoral boundaries that separate the constituencies of the ruling party and the opposition parties.     

What are public services worth, and to whom? Non-parametric estimation of capitalization in Pune

The availability and quality of basic public services are important determinants of urban quality of life. In many cities, rapid population growth and fiscal constraints are limiting the extent to which urban governments can keep up with increasing demand for these services. It therefore becomes important to prioritize provision of those services to best reflect local demand. We present a strategy to estimate the demand for public services, which is sensitive to heterogeneity in preferences across types of households, and the non-parametric estimation addresses problems arising from functional form restrictions. Using data from Pune, India, we estimate the demand for public services, as represented by the marginal change in the self-assessed monthly rental price of dwellings from the services. We find that the value of publicly-provided services accruing to the poor is greater than that going to wealthier households, and even untargeted across-the-board investment in specific services can be progressive.     

Estimating the Demand for Housing, Land, and Neighbourhood Characteristics

This paper provides estimates of the structure of demand for individual housing and neighbourhood characteristics and for land in two British cities. We estimate a hedonic price function, and from this obtain the implicit prices of house attributes. These prices are used to estimate a demand system for each city. These perform well, and enable us to calculate price and income elasticities for each of the non-dichotomous characteristics and for land. To counteract criticisms of demand estimates derived within the hedonic framework a method is developed for selecting an appropriate set of instrumental variables. Estimates derived from this method, however, differ only slightly from those obtained using the conventional techniques. Several features of these estimates provide insights into the unusual characteristics of the British housing market, the effects of constraints imposed by land use planning, and the effects of changing income distribution on the structure of demand.     

Land and residential property markets in a booming economy: New evidence from Beijing

Beijing's housing market has boomed over the last fifteen years. The city's population grew by 40.6% and per capita income (in constant RMB) by 273.9% from 1991 to 2005. Using two geocoded data sets, we present new evidence on the real estate price gradient, land price gradient, population densities, and building densities in Beijing's recent free housing market. The classic urban monocentric model's predictions are largely upheld in Beijing. We also document the importance of local public goods, such as access to public transit infrastructure, core high schools, clean air, and major universities, most of which have exogenous locations, as important determinants of real estate prices.     

Mobile Labor, Multiple Tax Instruments, and Tax Competition

The tax competition literature shows that local governments keep property tax rates inefficiently low to prevent capital outflows, thereby underproviding local public goods. This paper adds mobile labor and an alternative tax instrument to the model. Jurisdictions have access to a property tax levied on land and capital, plus either a head tax or a labor tax. Scale economies in public good provision create incentives to use the property tax, but these incentives are not accompanied by increased incentives to underprovide public goods. In contrast, underprovision is associated with the use of a distortionary labor tax.     

论国家审计信息产品的属性和价格

国家审计信息产品属性分为纯公共产品、准公共产品和私人产品,它们在一定条件下相互转化.纯公共产品审计信息的价格为税收.在准公共产品审计信息中,依照申请人要求而公开的审计信息的价格为收费;其他审计信息没有价格.在私人产品审计信息中,二次开发的审计信息的价格为市价;其他审计信息没有价格.国家审计信息的最优公开范围为纳税的边际成本等于边际收益.     

Spatial equilibrium with local public goods: Urban land rent,optimal city size and the Tiebout hypothesis

This paper extends the standard model of urban land rent to consider the spatial equilibrium conditions in a local public goods market as hypothesized by Charles M. Tiebout. An analysis is made of the spatial dimensions of public goods, their degree of ‘localness’ and their impact on land values. It is shown that the optimal population size of the community (Tiebout's sixth assumption) is simultaneously derived with the optimal supply of local public goods and local taxes. It is also shown that land rent is a poor output indicator of Tiebout's equilibrium conditions and that the capitalization assumption is not the appropriate test for his hypothesis.     

The Capitalization of Public Services and Amenities into Land Prices — Empirical Evidence from German Communities

Applying the hedonic approach to land prices, this article investigates the capitalization of public services and pure amenities in a cross section of German communities. Possible spillover effects from neighboring municipalities are explicitly included in the analysis and prove to be of considerable importance. Estimates of the impacts of local attributes on land prices are obtained taking into account the spatial structure among unobserved variables. The results confirm that differences in land prices are largely attributable to local conditions and policies. This implies a significant degree of mobility as well as high estimation of local attributes on the part of German households.     

Market models of local government: Exit,voting, and the land market

This paper explores linkages between exit, voting, and the land market that are central to the study of local politics. It raises new questions about the desirability of Tiebout-type governmental structures. Decentralized political and locational choice may not produce an equilibrium solution, and when an equilibrium does exist, the outcome will be dependent upon the historical accidents of community size. The effect of migration on public choices depends on the preferences and incomes of migrants, on the production function for public services, and on the price of land. Migration may lead to public choices that generate more migration in the same or the opposite direction.     

Voice,exit and local capture in public provision of private goods

We developed a simple model on publicly provided private goods, such as health or education that highlights a vicious cycle faced by many developing countries. When public services are not of high quality due to mismanagement or corruption, the wealthy may switch to private alternatives. Their exit weakens the influence of citizen voice over politicians, since that leaves the poor as the only constituent with a stake in good governance. As the civic control over local governments weakens, government’s concern for social welfare declines even further, leading to more corruption and more corrosion in the quality of public services. Our model shows that establishing institutions (such as local taxation) that spread the costs and benefits of governance across the whole society is crucial for the success of local governments. Empirical results from the Philippines support this hypothesis.