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Does Bike Sharing increase House Prices? Evidence from Micro-level Data and the Impact of COVID-19

Author

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  • Zhengyi Zhou

    (Shanghai University of Finance and Economics, Yangpu District)

  • Hongchang Li

    (Beijing Jiaotong University, Haidian District)

  • Anming Zhang

    (University of British Columbia)

Abstract

With unique datasets, this paper studies the effects of dockless bike sharing on house prices. We find that in neighborhoods relatively far from subway stations, house prices increase with the usage intensity of shared bikes. This indicates a positive value of bike sharing as a complement to the subway network. Meanwhile, shared bike usage intensity also has a negative impact on house prices. The negative effect is mitigated for luxury neighborhoods and neighborhoods near City Management Teams, suggesting that the negative effect is related to bike misplacement. Since the breakout of COVID-19, both the positive and negative price impacts have become more evident. This is consistent with the fact that the user base of shared bikes, which allow for social distancing in an open space, has increased during the pandemic. This may enhance people’s confidence in the long survival of the bike sharing industry.

Suggested Citation

  • Zhengyi Zhou & Hongchang Li & Anming Zhang, 2024. "Does Bike Sharing increase House Prices? Evidence from Micro-level Data and the Impact of COVID-19," The Journal of Real Estate Finance and Economics, Springer, vol. 69(4), pages 621-650, November.
    • Handle: RePEc:kap:jrefec:v:69:y:2024:i:4:d:10.1007_s11146-022-09889-x
    DOI: 10.1007/s11146-022-09889-x
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