The expected effect of urban community renovation on housing prices——Empirical analysis based on Hangzhou Future Community Project
With the reform of China's economic system and the rapid advancement of urbanization,the real estate market in some cities in China has entered the stage of inventory,and urban community transformation has be-come an important means to solve the problem of urban real estate inventory.Based on the reference of relevant literature on urban community renovation at home and abroad,this paper takes the future community of Hang-zhou City in Zhejiang Province as an empirical case to explore the expected effect of urban community renova-tion on housing prices.The results indicate that the announcement of the future community list increases the house price around the future community by 5.2％.The influence of this expected effect tends to decrease with time.The influence of future communities on housing prices is heterogeneous,and the driving effect on housing prices significantly increases with the expansion of the scale of urban community renovation projects.The an-nouncement of the first batch of future community pilot list has differences in the housing choice behavior of low,medium and high price housing buyers,and higher price housing buyers have stronger willingness to pay for the renovation of surrounding urban communities.
community renovationurban renewalfuture communityexpected effects
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