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Article

Will Good Service Quality Promote Real Estate Value? Evidence from Beijing, China

1
School of Economics and Management, Beijing Forestry University, Beijing 100083, China
2
National Academy of Economics and Trade for Forestry and Grassland, Beijing Forestry University, Beijing 100083, China
3
The Department of City and Regional Planning, University of North Carolina, Chapel Hill, NC 27599, USA
*
Author to whom correspondence should be addressed.
Academic Editors: Sheng Zheng, Yuzhe Wu and Ramesh P. Singh
Land 2022, 11(2), 166; https://doi.org/10.3390/land11020166
Received: 7 December 2021 / Revised: 17 January 2022 / Accepted: 18 January 2022 / Published: 20 January 2022
(This article belongs to the Special Issue Urban Land Development in the Process of Urbanization)
In the field of land use and urban management, real estate value-added issues have attracted much attention. Previous studies mainly focused on the premium of basic public services (such as infrastructure) in real estate value. As an important part of urban management, the contribution of property service is often underestimated. Few empirical studies mentioned the potential contribution of property service quality. Based on this, this paper aims to confirm and quantitatively evaluate the premium of good service quality in real estate value utilizing 155,845 samples of housing resale transactions in Beijing from 2012 to 2019. Furthermore, we also explore the dynamics and heterogeneity of the above premium. Our results show the following: Firstly, good service quality does show premium in real estate value, and the higher the service quality, the greater the premium in housing price. Secondly, this premium keeps increasing during our study period. With urbanization and rising incomes of residents, property service is increasingly important. Thirdly, the contribution of service quality to real estate value is greater when serviced houses have a higher price or larger area, are relatively newer, or further away from the city center. The findings of this current research not only deepen our understanding of service quality’s premium in real estate value, but also provide implications for urban management. View Full-Text
Keywords: land value-added; urban management; hedonic price model; housing price; property service; property management fee land value-added; urban management; hedonic price model; housing price; property service; property management fee
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MDPI and ACS Style

Liu, F.; Chen, K.; Zhang, T.; Zhang, Y.; Song, Y. Will Good Service Quality Promote Real Estate Value? Evidence from Beijing, China. Land 2022, 11, 166. https://doi.org/10.3390/land11020166

AMA Style

Liu F, Chen K, Zhang T, Zhang Y, Song Y. Will Good Service Quality Promote Real Estate Value? Evidence from Beijing, China. Land. 2022; 11(2):166. https://doi.org/10.3390/land11020166

Chicago/Turabian Style

Liu, Fangyuan, Kaili Chen, Tianzheng Zhang, Yingjie Zhang, and Yan Song. 2022. "Will Good Service Quality Promote Real Estate Value? Evidence from Beijing, China" Land 11, no. 2: 166. https://doi.org/10.3390/land11020166

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