Research on the Impact of Market Concern for Real Estate Policy on Housing Prices: Evidence from Internet Search and Hedonic Price Theory

To avoid the effects of systemic financial risks caused by extreme fluctuations in housing price,the Chinese government has been exploring the most effective policies for regulating the housing market.Measuring the effect of real estate regulation policies has been a challenge for present studies.This study innovatively employs big data technology to obtain Internet search data(ISD)and construct market concern index(MCI)of policy,and hedonic price theory to construct hedonic price index(HPI)based on building area,age,ring number,and other hedonic variables.Then,the impact of market concerns for restrictive policy,monetary policy,fiscal policy,security policy,and administrative supervision policy on housing prices is evaluated.Moreover,compared with the common housing price index,the hedonic price index considers the heterogeneity of houses and could better reflect the changes in housing prices caused by market supply and demand.The results indicate that(1)a long-term interaction relationship exists between housing prices and market concerns for policy(MCP);(2)market concerns for restrictive policy and administrative supervision policy effectively restrain rising housing prices while those for monetary and fiscal policy have the opposite effect.The results could serve as a useful reference for governments aiming to stabilize their real estate markets.

Research on Influencing Factors of Residential Rental Price Based on Hedonic Price Model:A Case Study of Nanshan District,Shenzhen

Taking Nanshan District,Shenzhen as an example,the paper studies the influencing factors of residential rental price via hedonic price model.The hedonic price index system is constructed and relevant characteristic variables are selected from the perspectives of building characteristics,location characteristics,neighborhood characteristics and rental characteristics.The residential rental data in the second half of 2020 are analyzed by multi-factors linear regression,and hedonic price model of house lease in Nanshan District is obtained to analyze the inherent law of residential rental price structure in this area.

The Influence of Built Environment on the Spatial Distribution of Housing Price:Based on Multiple Big Data and Hedonic Model

In recent years,more and more researches focus on the self characteristics and spatial location of housing,and explore the influencing factors of urban housing price from the micro perspective.As representative of big cities,spatial distribution pattern of housing price in national central cities has attracted much attention.In order to return the spatial distribution pattern of housing price to the research on influencing factors of housing price,the reasons behind the spatial distribution pattern of housing price in three national central cities:Beijing,Wuhan and Chongqing are explored.The results show that①urban housing price is affected by many factors.Due to different social and economic conditions in each city,there are differences in the influence direction of the proximity to expressways,city squares,universities and living facilities,characteristics of companies and enterprises on Beijing,Wuhan and Chongqing.②Various factors have different value-added effects on housing price in different cities.The location of ring line in Beijing and Wuhan has the greatest increase effect on housing price,while metro station of Chongqing has the greatest increase effect on housing price.

An Analysis of the Factors that Affect Collective Construction Land Transfer Price: A Case Study of Yichang City

The transfer of the rural collective construction land is increasingly accelerating,and the factors affecting transfer price are manifold. In this paper,the research area is Yichang,and we establish hedonic price model to explore and analyze the factors which affect the collective construction land transfer price. The simulation results show that in geographical factors,the higher degree of prosperity,road accessibility and soundness of infrastructure will result in higher collective construction land transfer price; in economic factors,the higher farmers' per capita net income and added value of the village's tertiary industry will lead to higher collective construction land transfer price; in ownership factors,the integrity of usufruct,disposition and possession has increasingly significant impact on collective construction land transfer price. In the process of establishing rural collective construction land circulation market,the government should gradually improve conditions of collective construction land; strengthen the construction of the rural economy,improve the economic attribute of the collective construction land; establish and improve China's rural collective construction land-related laws and regulations,make the rural collective construction land use rights clear,and give the whole rights of occupation,use,earning and disposition.

Impact of urban landscape and environmental externalities on spatial differentiation of housing prices in Yangzhou City

In this study, housing prices data for residential quarters from the period 2001-2012 were used and Global Differentiation Index （GDI） was established to measure the overall differentiation trend in housing prices in Yangzhou City, eastern China. Then the influence of the natural landscape and environment on prices of global housing market and housing submarkets was evaluated by the hedonic price model. The results are shown as follows. （1） There have been increasing gaps among housing prices since 2001. In this period, the differentiation trend has shown an upward fluctuation, which has been coupled with the annual growth rate of housing prices. （2） The spatial distribution of residential quarters of homogenous prices has changed from clustered in 2001 into dispersed in 2012. （3） Natural landscape and environmental externalities clearly influence spatial differentiation of housing prices. （4） In different housing submarkets, the influence of natural landscape and environmental eternalities are varied. Natural landscape characteristics have significant impact on housing prices of ordinary commercial houses and indemnificatory houses, while the impact of environmental characteristics have obvious influence on housing prices of cottages and villas.

The influence of quality characteristics of aquatic products on its price determination in China-A case of salmon products in supermarkets of Shanghai

The relationship between salmon prices and attributes were explored using the samples collected in supermarkets in Shanghai,China.The results showed that the price of the salmon did not have a significant relationship with the depth of orange color of salmon,unlike the results of stated preferences of western consumers in the previous studies.Whereas,smoked products had a positive relationship with price in the linear model form,and as the main importing country,Norway has the strongest positive relationship with price.In China salmon demand is expected to increase in future,salmon attributes highly appreciated in the market are different from western countries and salmon exporters need to recognize China as a special market for effective market.

Value of Access to Jobs and Amenities: Evidence from New Residential Properties in Beijing

With the rapid urbanization of Chinese cities,access to jobs and amenities is becoming increasingly valued in household＇s choice of residential locations.In this paper,we estimate the implicit value of access to jobs and amenities in Beijing using the hedonic pricing model.The spatial distributions of jobs and amenities in the Beijing Metropolitan Area are quite centralized,supporting the traditional monocentric model in the urban economics literature.Accessibility indices are developed to measure the accessibilities to jobs and amenities of 129 Jiedaos（residential zones）.We then employ the hedonic pricing equations to estimate the capitalization effects of these accessibility indices in the prices of new residential properties.The empirical results show that the accessibility indices are important determinants of residential property prices in Beijing,which means that urban residents have a willingness to pay for access to high quality amenities.