The Impact of Luxury Housing on Neighborhood Housing Prices in Taipei City

Asian Economic and Financial Review

Chun-Chang Lee^1¹ 

[1] Professor, Department of Real Estate Management, National Pingtung University, Taiwan No. 51, Mingsheng East Road, Pingtung, Taiwan Associate professor, Department of Public Finance and Tax Administration, National Taipei University of Business, Taiwan Associate professor, Department of Computer Science and Information Engineering, National Pingtung University, Taiwan Department of Real Estate Management, National Pingtung University, Taiwan No. 51, Mingsheng East Road, Pingtung, Taiwan^1

关键词: Luxury housing;    Difference-in-difference method;    Housing price;    Spillover effects;    Geographic information system;    Taipei City.;   

DOI  :  10.18488/journal.aefr.2018.810.1211.1225

学科分类：社会科学、人文和艺术（综合）

来源: Asian Economic and Social Society

【 摘 要 】

This study investigated whether a decision to construct luxury housing can help increase neighborhood housing prices. The difference-in-difference method was used in the analysis. Housing transaction data from 2008 to 2011 were used in the analysis. According to the empirical results, after eliminating the common growth in prices (10.6%) between the neighborhood in which luxury housing was to be built and the other non-luxury neighborhood, the real gap in the housing prices caused by the luxury housing was 11.2%. This suggests that luxury housing has spillover effects on neighborhood housing prices and, specifically, can help to increase neighborhood housing prices. Furthermore, the results showed that housing prices in the neighborhood in which the luxury housing was to be built were inversely proportional to the distance from the luxury housing.

【 授权许可】

CC BY