Housing Price of School Estate Influenced by Education Capitalisation in China

Abstract

중국 부동산 가격 상승의 주요 원인중 하나는 공교육의 질적 차이로 인해 이른 바 명문학군내의주 택가격이 상승한 것이다 . 중국 학부모들은 과거보다 자녀 교육에 관심이 높아져, 일반적 공교육보다 더욱 강화된 교육을 받는 것을 선호 하게 되었다. 이러한 실상에도 불구하고 그간명문학군이 주변 부동산의 가격 변동에미치는영 향 을 분석한 연구는 드물었다. 이에 본 연구에서는 헤도닉 가격 모형 (Hedonicprice model), 랜덤포레스트 (Random Forest), LSTM(Long Short Time Memory) 등다양한 방 법을 도입해 학 교 단지로 대표되는 선전시 5개 전형학군의 교육인프라와 주택가격 의 상관관 게를 분석했다 . 분석에 따르면 초중고교 등 기초교육시설이 주택가격에 유의미 한 영향을 미쳤으며, 특히 중학교와의 거리가 높은 상관관계를 갖는 것으로 파 악되었다 . 제시된 주택가격 예측 모델은 중국의 관련 정부 정책 수립과 민간의 부동산 개발 방향에 참고자료로 쓰일 수 있다 .|One of main reasons for boosting capitalised housing market in China is the popularity of educational capital premium due to the imbalanced quality of public education that is highly affected by the price of residential properties within school district system. China’s urban housing market has been gradually improved, leading to an obvious imbalance in free housing transaction market by affecting housing prices. As Chinese parents have paid attention to their children’s education more than before, School Estate represents as a special outcome to admit enhanced education compared to common school of the district system. However,research to verify the house price impact yield form China’s school estate is rare. Therefore, we analysed the relation between education infrastructure and housing price in five typical schooling areas of Shenzhen city which is representatively embodied to school estate by introducing Hedonic method, Random Forest method and Long Short- Term Memory (LSTM). Consequently, the closer it is to basic education facilities such as elementary and junior-high school, the higher significant effect on housing prices. Especially, distance of junior-high school highly impacts to housing prices. Proposed housing prediction model provides a powerful and positive reference for Chinese real estate developers and individual residential property purchasers.