The impact of COVID-19 on housing price: Evidence from China

Xianhang Qian, Shanyun Qiu and Guangli Zhang

Finance Research Letters, 2021, vol. 43, issue C

Abstract: Using data on monthly community-level confirmed COVID-19 cases and housing price in China, we investigate the impact of COVID-19 on housing price. With the difference-in-difference method, we find that the housing price of the communities with confirmed COVID-19 cases would reduce by 2.47%. The impact persists three months and the extent of the impact basically becomes greater as time goes on. The results are robust after the parallel pre-trend test and the placebo test. Moreover, the impact of COVID-19 on housing price only exists in regions with a higher infection level of COVID-19 or worse medical treatment conditions.

Keywords: COVID-19; Housing price; Infection level; Medical treatment conditions (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (23)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:43:y:2021:i:c:s1544612321000258

DOI: 10.1016/j.frl.2021.101944

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