The Evaluation Method of Affordable Housing Site Selection Based on the Trade-off between Social Benefit and the Opportunity Cost of Land: A Quantitative Analysis Based on the Differences in Preferences of Residential Location Choice between High-income and Low-income Residents

Abstract

Abstract:

Affordable housing has significant social benefits for improving its target group's quality of life. However, it also results in the loss of land transfer revenues (a lot of opportunity costs) for urban governments. The reasonable site selection of affordable housing projects depends on a rational tradeoff between these social benefits and opportunity cost of land supply. This requires deep insights into the preferences of residential location choice for both low-income and high-income residents, looking for the locations low-income residents are more preferred relatively, where means higher social benefits and lower opportunity cost. In this paper, we quantify their differences in residential location choice preferences on the basis of a large sample micro data from 2010 Beijing Urban Household Survey, using revealed preference method (Hedonic model). Our analysis units are the 1911 traffic analysis zones (TAZ) of Beijing, by comparing these two groups of people's overall willingness to pay for each TAZ, we construct an indicator for affordable housing site selection at different locations. This research can provide technical support for the affordable housing projects' site selection decisions, and contribute to the balance of both social benefits from affordable housing and the financial constraints of urban governments.

Key words: affordable housing projects' site selection, residential location choice, revealed preference, Hedonic model, willingness to pay

Zheng Siqi, Zhang Yingjie, Zhang Suodi, Long Ying, Du Liqun. The Evaluation Method of Affordable Housing Site Selection Based on the Trade-off between Social Benefit and the Opportunity Cost of Land: A Quantitative Analysis Based on the Differences in Preferences of Residential Location Choice between High-income and Low-income Residents[J]. , 2016, 28(7): 3-11.

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