PT  - JOURNAL ARTICLE
AU  - Mei, Yingdan
AU  - Liu, Pengfei
AU  - Gao, Li
TI  - The Impact of Water Body Restoration on the Sales and Rental Markets in Beijing
AID  - 10.3368/le.99.4.041322-0030R1
DP  - 2023 Nov 01
TA  - Land Economics
PG  - 558--572
VI  - 99
IP  - 4
4099  - http://le.uwpress.org/content/99/4/558.short
4100  - http://le.uwpress.org/content/99/4/558.full
AB  - Black and odorous water bodies (BOWBs) are increasingly common in cities worldwide. This article 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 restoring a BOWB significantly increase house prices by 2.2%–3.9% and 2.3%–4.9%, respectively, and increases rents by 11.3%–13.7% and 13.4%–16.9%, respectively.