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International Journal of Innovation and Research in Educational Sciences

Research on the Impact of Purchase Restriction Policy on Housing Price Based on Difference-In-Difference Method

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Year:
2022
Type of Publication:
Article
Keywords:
Real Estate, Policy Effect Evaluation, Panel Data, Method of Double Difference
Authors:
  • Tang, Yifei
  • Fan, Yuyang
  • Wang, Luyan
  • Pan, Wenshan
  • Wang, Yifei
Journal:
IJEIR
Volume:
9
Number:
6
Pages:
245-254
Month:
November
ISSN:
2349-5219
BibTex:
Abstract:
Housing prices have been a hot topic in recent years, and the purchase restriction policy is an important means to regulate housing prices. Therefore, the effectiveness of the purchase restriction policy is worth exploring. This paper selects the monthly panel data of housing prices in Hangzhou and Ningbo from 2016 to 2021, and uses the difference-in-difference method to explore the impact of the purchase restriction policy on urban housing prices. It is found that after the implementation of the purchase restriction policy, housing prices have been effectively suppressed in the short term, and the policy effect has gradually weakened over time. Through the comparison of the two cities, it is found that the effect of the purchase restriction policy in Hangzhou is better than that in Ningbo. On the basis of the above research, this paper also finds that the purchase restriction policy has a certain lag, and it began to significantly reduce housing prices only three months after the implementation of the purchase restriction policy.

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