Paper Title
Study on Economic Effect of Culture Heritage in Housing Market in Tainan, Taiwan

Abstract
This paper aims to explore the economic effects of culture heritages on housing price to explain the economic effects of culture heritage by the Hedonic Price Approach (HPA) and the stepwise regression analysis based on 44,536 townhouse cases of real estate during 2012-2018 years in Tainan, Taiwan. The results show an average annual increase rate is equal to 7.3% in Tainan housing market. For a locally culture heritage, the maximum premium is equal to 8% and the premium increases as distance increasing until 1,000m. For a nationally culture heritage, the housing prices premium increases from 2% to 14% as distance increasing from 0 to 1,500m. Keywords- Hedonic Price Approach, Culture Heritage, Housing Price, Premium.