Study on capitalization effect of the national industrial heritage designation:An empirical analysis based on DID method

Based on DID-Hedonic price model, this paper analyzes the capitalization effect and spatio-temporal Heterogeneity of national industrial heritage designation on housing prices. The results show that on the whole, the designation of national industrial heritage has a significant positive impact on the residential housing prices. After designation, the housing price around it increased significantly by 1.62%, and the influence gradually increased with time, but gradually weakened with the increase of distance. Besides, the capitalization effect of national industrial heritage designation has a significant heterogeneity in city grade, use status of industrial heritage and residential submarket. From the city grade aspect, the capitalization effect in second-tier cities is more significant than that in first-tier cities and new first-tier cities. From the current use status of industrial heritage aspect, the museum brings the largest economic benefits, while the sealed protection status will bring negative effect