The economic premium of housing certificates aimed at promoting long-life property and transaction of existing housing in Japan
The economic premium of housing certificates aimed at promoting long-life property and transaction of existing housing in Japan
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DOI：
10.1016/j.jclepro.2022.132935
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发表时间：
2022-07-01
影响因子：
11.1
通讯作者：
Shibata，Atsushi
中科院分区：
文献类型：
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作者：
Suzuki，Masatomo;Shibata，Atsushi
为了促进日本的长寿房产和现房交易，本研究考察了多重房产证的经济溢价。这些证书不同于被广泛调查的绿色或与环境有关的证书。利用东京都地区独立房屋的交易数据，特征回归分析揭示了证书和交易价格之间的以下关系。首先，长寿高品质的房屋设计为比普通房屋使用时间更长，导致交易价格的正溢价。其次，现有房屋交易的抵押贷款税收抵免相关证书，如符合抗震能力标准或缺陷保险检查标准的证书，导致交易价格的正溢价，特别是对较旧的房产。第三，如果购买者的利益有限，或者证书与另一个证书具有互补关系，则来自其他证书的经济溢价可能是中性的。考虑到证书的正溢价意味着买家对此类房产的需求很高，我们的结果表明，通过金融激励促进长寿命房产和现房交易正在将积极新建和快速拆除房产的性质转变为一个更可持续的社会，具有更长的建筑经济寿命。
This study investigates the economic premium of multiple housing certificates to promote the long-life property and existing housing transactions in Japan. These certificates are different from the widely investigated green or environmental-related certificates. Employing transaction data for detached houses in the Tokyo metropolitan area, hedonic regression analyses reveal the following relationships between certificates and transaction prices. First, long-life quality houses designed to last longer than ordinary houses result in a positive premium on transaction prices. Second, the mortgage tax credit-related certificates for transactions of existing houses, such as those meeting earthquake resilience standards or defect insurance inspection standards, result in a positive premium on transaction prices, especially for older properties. Third, the economical premiums from other certificates may be neutral if benefits for buyers are limited or the certificate has a complementary relationship with another. Considering that the positive premium of certificates means that buyers highly demand such properties, our results imply that the promotion of long-life property and existing housing transactions through financial incentives is shifting the nature of active new construction and rapid demolition of properties to a more sustainable society with longer economic life of building.