国家级新区在推动区域经济协调发展的同时, 可能引发区域房价波动。通过空间一般均衡模型, 阐释了国家级新区影响房价的理论机制。基于2004—2018年城市面板数据, 使用PSM-DID方法系统评估了国家级新区设立对房价的影响效果及其空间溢出效应。研究发现: 总体上国家级新区设立显著推升了房价4.7%, 且对低行政级别城市房价的推升更明显; 国家级新区对周边100 km以内的城市房价并不存在显著的负向影响, 但对周边100～150 km内的城市房价具有正向溢出效应; 国家级新区对房价影响持续期长达4年。同时提出优化区域房地产市场调控、发挥国家级新区的区位导向性作用的政策建议。

While promoting the coordinated development of regional economy, the state-level new areas may cause the fluctuation of regional housing prices. By constructing a general equilibrium model, this paper explains the theoretical mechanism of the impact of state-level new areas on housing prices and uses PSM-DID method to evaluate the impact of state-level new areas on housing prices and its spatial spillover effects. This paper find that the state-level new areas significantly increase the local housing price by 4. 7%, which lasts for 4 years, and has a positive spillover effect on the housing price of surrounding cities within 100 ～ 150km. This paper also provides suggestions on optimizing macro-control of real estate market and planning of state-level new areas.