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International Journal of Frontiers in Sociology, 2020, 2(3); doi: 10.25236/IJFS.2020.020302.

Will Tourism Development Increase Housing Prices?——Based on the Empirical Analysis of Hainan Province, China

Author(s)

Kangbo Liu, Yicong Wang, Lei Lin

Corresponding Author:
Kangbo Liu
Affiliation(s)

School of Finance, Anhui University of Finance and Economics, Anhui Bengbu, 233000

Abstract

Based on the background of rising housing prices in Hainan Province, China, under the background of “International Tourism Island”, this paper uses data from 2012 to 2016 in Hainan Province cities and counties to build a regression model to study the mechanism of tourism development and expected impact on housing prices in Hainan Province And effects. The research shows that: (1) The development of tourism in Hainan Province of China and the expectations of the tourism industry will have different effects on the average house price level. The development of the tourism industry has a pushing effect on the average house price level of the real estate market, while the expectation of the tourism industry will be reduced Average house prices; (2) Tourism development and expectations have no significant impact on house price growth rates; (3) Tourism development has an increased effect on local residents’ incomes higher than the effect on house prices, leading to a reduction in the house price-income ratio, therefore The impact of Hainan's tourism development on real estate is healthy and stable. Although it has increased housing prices, it will not contribute to the real estate bubble; (4) In terms of housing prices of different types of commercial housing, the development of tourism has significantly improved business The price of commercial housing reduces the price of commercial residential housing, and has a greater impact on the price of commercial commercial housing than that of commercial residential housing, while the development of tourism is expected to have no significant impact on the price of commercial commercial housing. The price of residential housing has an inhibitory effect on the average housing price of the entire real estate market.

Keywords

Cite This Paper

Tourism development; House prices; Regression model; House price growth rate; House price-income ratio

References

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