The Heterogeneous Effect and Transmission Paths of Air Pollution on Housing Prices: Evidence from 30 Large- and Medium-Sized Cities in China

Liu Guangping (), Zhang Guo (), Li Yanfei () and Yu Yang ()
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Liu Guangping: School of Economics and Management, Hebei University of Technology, Tianjin, China
Zhang Guo: School of Economics and Management, Hebei University of Technology, Tianjin, China
Li Yanfei: School of Management, Tianjin University of Technology, Tianjin, China
Yu Yang: School of Artificial Intelligence, Hebei University of Technology, Tianjin, China

Economics - The Open-Access, Open-Assessment Journal, 2024, vol. 18, issue 1, 17

Abstract: Utilizing panel data from 30 large- and medium-sized cities in China from 2003 to 2018, this study employs the bootstrap method to investigate the heterogeneous impact of air pollution on housing prices and its underlying mechanisms. The research findings indicate that an increase in the concentration of various air pollutants has a restraining effect on housing prices, with the primary components of haze exerting a greater influence. Air pollution indirectly affects housing prices by influencing urban economic development and the development of the tertiary industry, with population density and the development of the secondary industry not serving as mediators in this relationship. Finally, policy recommendations are provided, including enhancing mandatory standards for energy consumption and waste gas emissions by enterprises, establishing a robust environmental monitoring system, and promoting industrial transformation and upgrading, aiming to provide insights for the stable development of the real estate industry.

Keywords: air pollution; housing prices; heterogeneity effect; transmission paths mediating effects (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:econoa:v:18:y:2024:i:1:p:17:n:1036

DOI: 10.1515/econ-2022-0093

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