Year of Graduation
The Effect of Schools' Quality on Surrounding Housing Pricing
In this paper we study the effect of schools’ characteristics on housing prices of secondary residential property market in the city of Perm. We employ the data on list prices and school characteristics in 2014-2015. We use the average score of the Unified State Exam on compulsory subjects as a main attribute of school, as well as the variables characterizing the social situation in the institution: the level of crime among pupils and the school's capacity. The estimation of spatial autoregression model reveals the effect of school education quality characteristics on residential real estate prices. The dividing on subsamples with one-room and multi-room flats shows the differences in school characteristics effects on prices. Moreover, we reveal the link between income and school quality effects on real estate prices.