TY - JOUR T1 - The Impact of Water Body Restoration on the Sales and Rental Markets in Beijing JF - Land Economics JO - Land Econ DO - 10.3368/le.99.4.041322-0030R1 SP - 041322-0030R1 AU - Yingdan Mei AU - Pengfei Liu AU - Li Gao Y1 - 2023/03/22 UR - http://le.uwpress.org/content/early/2023/03/14/le.99.4.041322-0030R1.abstract N2 - Black and odorous water bodies (BOWBs) are increasingly common in cities worldwide. This paper evaluates the impact of an urban water bodies restoration program in Beijing, China, based on detailed housing sale and rental transaction data. We implement a hedonic price model with a difference-in-difference and a triple difference approach and find that listing and restoration of a BOWB significantly increase house prices by 2.2-3.9 percent and 2.3-4.9 percent, respectively, while at the same time increase rents by 11.3-13.7 percent and 13.4-16.9 percent, respectively. ER -