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

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  • Yingdan Mei
  • Pengfei Liu
  • Li Gao

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.

Suggested Citation

  • Yingdan Mei & Pengfei Liu & Li Gao, 2023. "The Impact of Water Body Restoration on the Sales and Rental Markets in Beijing," Land Economics, University of Wisconsin Press, vol. 99(4), pages 558-572.
    • Handle: RePEc:uwp:landec:v:99:y:2023:i:4:p:558-572
    Note: DOI: https://doi.org/10.3368/le.99.4.041322-0030R1
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    More about this item

    JEL classification:

    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

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