E3S Web Conf.
Volume 218, 20202020 International Symposium on Energy, Environmental Science and Engineering (ISEESE 2020)
|Number of page(s)||7|
|Section||Environmental Climate Change Monitoring and Urban Protection Planning|
|Published online||11 December 2020|
Research on the Impact of Air Pollution on the Real Estate Market-Take Shanghai’s Residential Commercial Housing Market as an Example
School of International Business, Shaanxi Normal University, Xi’an 710119, China
* Corresponding author: firstname.lastname@example.org
Based on urban economics, behavioural economics and western economics theory, we analysed the effects of air pollution on the real estate market through VAR model and IRF using the AQI and the residential commercial housing market data from January 1, 2015 to June 30, 2020. We found that there is intrinsic link between changes in air pollution levels and changes in real estate market. When air pollution levels increase, it will have a sustained inhibitory effect on housing price and housing turnover. The effect on housing price will last about 5 months and the effect on housing turnover will last about 2 months. After having a comparative analysis of the IRF of the average price in six jurisdictions in Shanghai we found that inhibitory effect which air pollution impact on real estate market has different forms of expression. Residents in areas with relatively poor air quality are more willing to pay for clean air and housing transactions in areas with relatively good air quality are more sensitive to air pollution.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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