The Impact of Water Body Restoration on the Sales and Rental Markets in Beijing

Yingdan Mei, Pengfei Liu and Li Gao

Land Economics, 2023, vol. 99, issue 4, 558-572

Abstract: Black and odorous water bodies (BOWBs) are increasingly common in cities worldwide. This article evaluates the impact of an urban water bodies restoration program in Beijing, China, based on detailed housing sale and rental transaction data. We implement a hedonic price model with a difference-in-difference and a triple-difference approach and find that listing and restoring a BOWB significantly increase house prices by 2.2%–3.9% and 2.3%–4.9%, respectively, and increases rents by 11.3%–13.7% and 13.4%–16.9%, respectively.

JEL-codes: Q53 (search for similar items in EconPapers)
Date: 2023
Note: DOI: https://doi.org/10.3368/le.99.4.041322-0030R1
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:99:y:2023:i:4:p:558-572

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