摘要：This paper investigates the effect of COVID-19 on both housing prices and housing price gradients in China using transaction level data from 60 Chinese cities. After using a difference-in-differences (DID) specification to disentangle the confounding effects of China’s annual Spring Festival, we find that housing prices decreased by two percent immediately after the COVID-19 outbreak but gradually recovered by September 2020. Moreover, our findings suggest that COVID-19 flattens the horizontal housing price gradient, reduces the price premium for living in tall buildings, and changes the vertical gradient within residential buildings. This is likely explained by the changing household preferences towards low-density areas associated with lower infection risk.

关键词：COVID-19; Housing prices; Horizontal housing price gradient; Building height; Vertical gradient.

该文2022年7月在线发表于城市与区域经济学领域顶刊Journalof Urban Economics。该期刊为经管院A-类期刊。作者按姓氏字母排序。

论文链接：https://doi.org/10.1016/j.jue.2022.103487