期刊,Journal of housing and the built environment 2025年40卷2期_国家学术搜索

Do COVID-19 pandemic-related policy shocks flatten the bid-rent curve? Evidence from real estate markets in Shanghai

Yifu OuZhikang BaoS. Thomas NgJun Xu...

505-523页

查看更多>>摘要：The COVID-19 pandemic has drastically affected the socioeconomic activities and peoples' daily life, resulting in a change in locational preferences in the real estate markets. Although enormous efforts have been devoted to examining the housing price impacts of the COVID-19 pandemic, little is known about the responses of the real estate markets to the evolving pandemic control measures. This study investigates the price gradient effects of various pandemic-related policy shocks using a hedonic price model on the district-level property transaction data in Shanghai, China over a 48-month period from 2018 to 2021. We found that these shocks have significantly altered the bid-rent curves. The price gradient for residential property units decreased in absolute value to -0.433 after Wuhan's lockdown, demonstrating peoples' preferences to avoid the high infection risks in districts closer to the city center. However, in the post-reopening and post-vaccine periods, the price gradient increased to - 0.463 and - 0.486, respectively, implying rational expectations of a recovering real estate market for the low infection and mortality rates. In addition, we discovered that Wuhan's lockdown has steepened the price gradient for commercial property units, suggesting a decline in business volumes and an increase in operating costs in the low-density districts imposed by the strict pandemic control measures. This study contributes to the empirical literature on the price gradient effects of the COVID-19 pandemic by extending the study period to the post-vaccine era.

原文链接:

NETL
NSTL
Springer Nature

Do COVID-19 pandemic-related policy shocks flatten the bid-rent curve? Evidence from real estate markets in Shanghai

Yifu OuZhikang BaoS. Thomas NgJun Xu...

505-523页

查看更多>>摘要：The COVID-19 pandemic has drastically affected the socioeconomic activities and peoples' daily life, resulting in a change in locational preferences in the real estate markets. Although enormous efforts have been devoted to examining the housing price impacts of the COVID-19 pandemic, little is known about the responses of the real estate markets to the evolving pandemic control measures. This study investigates the price gradient effects of various pandemic-related policy shocks using a hedonic price model on the district-level property transaction data in Shanghai, China over a 48-month period from 2018 to 2021. We found that these shocks have significantly altered the bid-rent curves. The price gradient for residential property units decreased in absolute value to -0.433 after Wuhan's lockdown, demonstrating peoples' preferences to avoid the high infection risks in districts closer to the city center. However, in the post-reopening and post-vaccine periods, the price gradient increased to - 0.463 and - 0.486, respectively, implying rational expectations of a recovering real estate market for the low infection and mortality rates. In addition, we discovered that Wuhan's lockdown has steepened the price gradient for commercial property units, suggesting a decline in business volumes and an increase in operating costs in the low-density districts imposed by the strict pandemic control measures. This study contributes to the empirical literature on the price gradient effects of the COVID-19 pandemic by extending the study period to the post-vaccine era.

原文链接:

NETL
NSTL
Springer Nature

The role of government emergency response capability in regional governance: evidence from the COVID-19 outbreak impact on the housing market

Fengfu MaoYuanfan WangXiaowen Yu

525-553页

查看更多>>摘要：Government emergency response capability is an important part of the government governance level, but its performance and role are difficult to be observed and tested. This paper investigates the role of government emergency response capability in regional governance, using the example of Chinese local governments. It leverages the external shock of the COVID-19 outbreak on the regional housing market and examines the moderating effects of government emergency response capability on COVID-19's impact on housing prices. The study found that the COVID-19 outbreak caused differentiated negative shocks to the regional housing market in the early stage; there was a clear feedback mechanism between the housing market and the government emergency response capability, and good local government emergency response capability could effectively reduce the negative impact of the pandemic on the housing market in the later stage; compared with social prevention and control policies, economic support policies were more effective in the later stage of the pandemic. These findings contribute to a deeper understanding of the differentiated emergency prevention and control capability of local governments in the housing market.

原文链接:

NETL
NSTL
Springer Nature

The role of government emergency response capability in regional governance: evidence from the COVID-19 outbreak impact on the housing market

Fengfu MaoYuanfan WangXiaowen Yu

525-553页

查看更多>>摘要：Government emergency response capability is an important part of the government governance level, but its performance and role are difficult to be observed and tested. This paper investigates the role of government emergency response capability in regional governance, using the example of Chinese local governments. It leverages the external shock of the COVID-19 outbreak on the regional housing market and examines the moderating effects of government emergency response capability on COVID-19's impact on housing prices. The study found that the COVID-19 outbreak caused differentiated negative shocks to the regional housing market in the early stage; there was a clear feedback mechanism between the housing market and the government emergency response capability, and good local government emergency response capability could effectively reduce the negative impact of the pandemic on the housing market in the later stage; compared with social prevention and control policies, economic support policies were more effective in the later stage of the pandemic. These findings contribute to a deeper understanding of the differentiated emergency prevention and control capability of local governments in the housing market.

原文链接:

NETL
NSTL
Springer Nature

Neighborly help and neighborhood-based social capital during the COVID-19 pandemic in major Chinese cities

Fabian TerbeckShenjing HeRong Cai

555-575页

查看更多>>摘要：The COVID-19 pandemic triggered an outpour of solidarity among residents of neighborhoods around the world. In China, one common form of solidarity was neighborly help provided through gifting/sharing food and daily necessities. Using survey data of 3543 residents in four Chinese cities collected in Spring 2021, we explore the factors associated with providing neighborly help and examine the general situation of neighborhood-based social capital and neighborly relationships. The results from a multiple linear regression analysis show that high levels of neighborly help during the pandemic were associated with positive relationships and trust among neighbors. Income and the use of social media apps among neighbors were the most important factors for residents to provide neighborly help. Our findings indicate that Chinese neighborhoods generally possess a high level of social capital despite the potentially disruptive influence of economic and societal changes in recent decades, which has positively contributed to facilitating neighborly help during the COVID-19 pandemic. Meanwhile, social media based on smart technologies also positively affects local communities during the pandemic.

原文链接:

NETL
NSTL
Springer Nature

Neighborly help and neighborhood-based social capital during the COVID-19 pandemic in major Chinese cities

Fabian TerbeckShenjing HeRong Cai

555-575页

查看更多>>摘要：The COVID-19 pandemic triggered an outpour of solidarity among residents of neighborhoods around the world. In China, one common form of solidarity was neighborly help provided through gifting/sharing food and daily necessities. Using survey data of 3543 residents in four Chinese cities collected in Spring 2021, we explore the factors associated with providing neighborly help and examine the general situation of neighborhood-based social capital and neighborly relationships. The results from a multiple linear regression analysis show that high levels of neighborly help during the pandemic were associated with positive relationships and trust among neighbors. Income and the use of social media apps among neighbors were the most important factors for residents to provide neighborly help. Our findings indicate that Chinese neighborhoods generally possess a high level of social capital despite the potentially disruptive influence of economic and societal changes in recent decades, which has positively contributed to facilitating neighborly help during the COVID-19 pandemic. Meanwhile, social media based on smart technologies also positively affects local communities during the pandemic.

原文链接:

NETL
NSTL
Springer Nature

The COVID-19 pandemic and house price convergence in Poland

Mateusz Tomal

577-602页

查看更多>>摘要：The effect of the COVID-19 pandemic on price convergence in the housing market is largely unknown. This paper aims to assess the impact of the pandemic on the convergence of sales and rental housing prices. The residential markets in Polish voivodeship capitals were chosen as a case study. The convergence evaluation was based on a local linear version of the log t regression test, which allowed the estimation of a time-varying convergence speed parameter. The causal effect of the pandemic on convergence was examined using a Bayesian structural time series model. The study results revealed that the pandemic led to divergence in the primary sales housing market, growth convergence in the secondary sales housing market, and a weakening growth convergence in the rental housing market. Finally, this paper provides the R function logt that enables running the local linear and dummy variable log t regression tests.

原文链接:

NETL
NSTL
Springer Nature

The COVID-19 pandemic and house price convergence in Poland

Mateusz Tomal

577-602页

查看更多>>摘要：The effect of the COVID-19 pandemic on price convergence in the housing market is largely unknown. This paper aims to assess the impact of the pandemic on the convergence of sales and rental housing prices. The residential markets in Polish voivodeship capitals were chosen as a case study. The convergence evaluation was based on a local linear version of the log t regression test, which allowed the estimation of a time-varying convergence speed parameter. The causal effect of the pandemic on convergence was examined using a Bayesian structural time series model. The study results revealed that the pandemic led to divergence in the primary sales housing market, growth convergence in the secondary sales housing market, and a weakening growth convergence in the rental housing market. Finally, this paper provides the R function logt that enables running the local linear and dummy variable log t regression tests.

原文链接:

NETL
NSTL
Springer Nature

Input-output efficiency of the housing provident fund in China: temporal-spatial variations and influencing factors

Hongyan ChenLinchuan YangHuaxiong JiangJinping Song...

603-627页

查看更多>>摘要：The input-output efficiency of China's Housing Provident Fund (HPF) program has received increasing academic attention in recent years. However, few studies have been conducted to examine its temporal-spatial variations and influencing factors. To fill the gaps, this study first used a DEA model to measure the input-output efficiency of HPF of 287 Chinese cities from 2015 to 2020, and then employed the Tobit regression model to determine the main influencing factors. Results indicate: (1) China's HPF input-output efficiency grew consistently from 2015 to 2020, remaining relatively high even during the Covid-19 outbreak. (2) HPF's efficiency displays notable spatial variation, with values higher in the eastern region and large cities compared to the western/central areas and medium/small cities. (3) Macroeconomic factors, housing market conditions, and HPF management elements significantly influence HPF efficiency, yet specific impacts vary; some factors (e.g., housing prices, capital investment intensity, fund utilization level) are positive, while others (housing price-to-income ratios, commercial housing loan interest rates, number of contributing employees) are negative. This study enhances understanding of HPF efficiency over time and space in China, offering insights for policy reform and system enhancement.

原文链接:

NETL
NSTL
Springer Nature

Input-output efficiency of the housing provident fund in China: temporal-spatial variations and influencing factors

Hongyan ChenLinchuan YangHuaxiong JiangJinping Song...

603-627页

查看更多>>摘要：The input-output efficiency of China's Housing Provident Fund (HPF) program has received increasing academic attention in recent years. However, few studies have been conducted to examine its temporal-spatial variations and influencing factors. To fill the gaps, this study first used a DEA model to measure the input-output efficiency of HPF of 287 Chinese cities from 2015 to 2020, and then employed the Tobit regression model to determine the main influencing factors. Results indicate: (1) China's HPF input-output efficiency grew consistently from 2015 to 2020, remaining relatively high even during the Covid-19 outbreak. (2) HPF's efficiency displays notable spatial variation, with values higher in the eastern region and large cities compared to the western/central areas and medium/small cities. (3) Macroeconomic factors, housing market conditions, and HPF management elements significantly influence HPF efficiency, yet specific impacts vary; some factors (e.g., housing prices, capital investment intensity, fund utilization level) are positive, while others (housing price-to-income ratios, commercial housing loan interest rates, number of contributing employees) are negative. This study enhances understanding of HPF efficiency over time and space in China, offering insights for policy reform and system enhancement.

原文链接:

NETL
NSTL
Springer Nature