住宅的特征与特征的价格——基于特征价格模型的分析

Housing characteristics and hedonic price: Analysis based on hedonic pricemodel

由于住宅产品的异质性,特征价格模型(HPM)被广泛使用于分析城市住宅市场,在理论分析的基础上,尝试构建特征价格模型对杭州市的住宅市场进行实证研究.该模型的理论基础主要由Lancaster偏好理论和Rosen的产品特征市场供需均衡模型两部分组成.通过收集杭州市西湖区278套住宅交易资料,选择15个因素作为住宅特征,建立了住宅特征价格模型.采用SPSS10.0软件对模型进行多元回归,得到了6个主要住宅特征的隐含价格,并将9个与房价关系密切的住宅特征按照重要程度分为三类.对模型的统计检验和模型结果的分析表明,该模型是有效的和合理的,可以用来解释和分析当地的住宅价格.

Because of the heterogeneity of housing product, hedonic price model is widely applied to study urban housing market. Based on theoretical analysis, an empirical study was made for housing market of Hangzhou City with hedonic price model. The hedonic price theory mainly included two parts: Lancaster's partiality theory and Rosen's characteristic market equilibrium analysis. By collecting 278 housing data in the Xihu Section of Hangzhou City, a housing hedonic price model was set up with 15 factors as housing characteristics. The model's coefficients were estimated after multinomial-regression analysis by using SPSS10.0 software. Thus 6 implicit prices of the main housing characteristics were obtained and 9 housing characteristics were classified into three grades according to their importance. Statistical test and analysis of model results show the model is valid and reasonable, and can been used to explain the local housing price.