中国高星级绿色住宅溢价的影响因素及其区域异质性——基于Hedonic模型的实证研究

doi:10.16382/j.cnki.1000-5579.2020.02.017

华东师范大学学报(哲学社会科学版) ›› 2020, Vol. 52 ›› Issue (2): 181-192.doi: 10.16382/j.cnki.1000-5579.2020.02.017

中国高星级绿色住宅溢价的影响因素及其区域异质性——基于Hedonic模型的实证研究

杨木旺¹, 侯盼龙², 叶雨晨³

1. 华东师范大学经济与管理学部工商管理学院房地产系,上海,200241;2. 金地商置集团华东区域投资拓展部;3. 华东师范大学经济与管理学部房地产经营与管理专业

发布日期:2020-03-24
作者简介:杨木旺,博士,华东师范大学经济与管理学部工商管理学院房地产系讲师(上海,200241);侯盼龙,硕士,金地商置集团华东区域投资拓展部助理经理;叶雨晨,华东师范大学经济与管理学部房地产经营与管理专业本科生。
基金资助:
国家社科基金项目"制度、效率和中国住房保障研究"（项目编号：17BJY218）。

Influencing Factors and Regional Heterogeneity of the Price Premium of High-Star Grade Green Residential Buildings in China: An Empirical Research Based on the Hedonic Model

YANG Mu-wang¹, HOU Pan-long², YE Yu-chen³

Published:2020-03-24

摘要/Abstract

摘要： 近年来，国内绿色建筑迎来全面发展，绿色溢价引发行业广泛重视。基于二手高星级绿色住宅转让溢价的新视角，运用Hedonic方法和区域异质性理论，采集我国绿色发展领先城市2015-2017年的737组高星级绿色住宅价格、区位、绿色星级、项目品质、房龄及宏观经济等季度数据，探究绿色溢价的影响因素及其区域异质性，其实证结果表明：高星级绿色住宅在三级市场中二手转让溢价显著，其溢价随着星级升高、社区品质优化、城市平均房价上涨、人口流入、人均GDP提高而上升，随着项目区位远、房龄高、土地成本上升、销售供给量增加而下降。进一步研究发现，绿色溢价受绿色星级、项目品质、房龄的影响存在区域异质性，且部分城市存在"过热现象"。因此，职能部门应实施"一城一策"的精准引导和市场监管。

关键词: 绿色建筑, 住宅, 溢价, 区域异质性, Hedonic模型

Abstract: In recent years, China's green buildings have been developing in an all-round way, and the green price premium has attracted widespread attention. Taking the new perspective of the price premium of second-hand high-grade green residential buildings(two-star grade and three-star grade), using the Hedonic method and the theory of regional heterogeneity, and collecting 737 sets of data from Q3 quarter of 2015 to Q4 quarter of 2017 in 10 consecutive quarters of 8 leading cities in China, this paper examines the influence of location, green grade, project quality, building age, time fluctuation and macro factors on price premium ability. The results show that the price premium is significant; it increases with higher star grade, better community quality, the rising of average sale price, the more inflow of population, and the rising of the per capita GDP; and it decreases with more remote project location, higher building age, the rising of land price, and more supply area for sales. Further research finds that the impact of green star grade, project quality and housing age on green price premium has regional heterogeneity. "Overheating" exists in some cities. Therefore, the departments should carry out precise policy guidance and market supervision with the principle of "One city, One policy".

Key words: green building, residential building, price premium, regional heterogeneity, Hedonic model

杨木旺, 侯盼龙, 叶雨晨. 中国高星级绿色住宅溢价的影响因素及其区域异质性——基于Hedonic模型的实证研究[J]. 华东师范大学学报(哲学社会科学版), 2020, 52(2): 181-192.

YANG Mu-wang, HOU Pan-long, YE Yu-chen. Influencing Factors and Regional Heterogeneity of the Price Premium of High-Star Grade Green Residential Buildings in China: An Empirical Research Based on the Hedonic Model[J]. Journal of East China Normal University (Philosophy and Social Sciences), 2020, 52(2): 181-192.

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中国高星级绿色住宅溢价的影响因素及其区域异质性——基于Hedonic模型的实证研究

Influencing Factors and Regional Heterogeneity of the Price Premium of High-Star Grade Green Residential Buildings in China: An Empirical Research Based on the Hedonic Model

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