The hedonic price model is widely applied to study the urban housing market because of the heterogeneity of housing products. Literature indicated that the hedonic price theory mainly includes two parts: Lancaster’s ...The hedonic price model is widely applied to study the urban housing market because of the heterogeneity of housing products. Literature indicated that the hedonic price theory mainly includes two parts: Lancaster’s partiality theory and Rosen’s characteristic market equilibrium analysis. This paper chose 18 characteristics as independent variables and set up a linear hedonic price model for Hangzhou City. The model was tested with 2473 housing samples and field survey data of 290 housing commu-nities. This research found that 14 out of 18 characteristics had significant influence on housing price. They were classified into 5 groups according to their impact degree.展开更多
A hedonic linear regression model is constructed in this paper to estimate property value, In our model, the property value （sales price） is a function of several selected variables such as the property characterist...A hedonic linear regression model is constructed in this paper to estimate property value, In our model, the property value （sales price） is a function of several selected variables such as the property characteristics, social neighborhoods, level of neighborhood environmental contaminations, level of neighborhood crimes, and locational accessibility to jobs or services, Definitions and calculation of these variables are approached by using Geographic Information System tools, For improving estimation, gravity model is employed to measure both levels of neighborhood toxic sites and crimes; and a time-based method is used to measure the loeational accessibility rather than simple straight-line distance measurement. This study discovers that the relationship between house value and its nearby highway is nonlinear, The methodology could help policy makers assess the external effects of a property. Our model also could be used potentially to identify the current and historic trends of development caused by neighborhood or environments change in the study area.展开更多
The aim of this study is to identify the variables affecting land value. Examined land was selected from the village in Vientiane capital city Laos. Data was collected from 100 villages in center of Vientiane capital ...The aim of this study is to identify the variables affecting land value. Examined land was selected from the village in Vientiane capital city Laos. Data was collected from 100 villages in center of Vientiane capital city by using survey methods. A hedonic price analysis was conducted to determine the marginal return to different land characteristics using an econometric model corrected for correlation. Parcel characteristics such as distance to public park, village income, distance of population, number of the school within 500 meters buffer, distance to the temple, distance to the major market and distance to the business center （CBD）. Arc GIS 9.2 was applied to calculate the distance of the factors, after that SPSS 15.0 was used to calculate the land price characteristic based on hedonic price model. The results showed that the distance to the center of population was the main factor influencing to the land price, and followed by school and village income. Map of the land price before and after hedonic price analysis were produced. The land price valuation approaches based on hedonic price model for Vientiane capital city were developed and land price map were predicted. Hedonic price model and GIS were very useful for this research, and finally the policy of the land valuation based on GIS was developed.展开更多
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 ef...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.展开更多
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 va...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.展开更多
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...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.展开更多
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 mode...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.展开更多
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...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.展开更多
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...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.展开更多
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 i...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.展开更多
基金Project supported by the National Social Science Foundation of China (No. 05CJY017), the Philosophy and Social Science Founda-tion of Zhejiang Province, China (No. N04GL06), and ShuguangProject (2004) of Zhejiang University, China
文摘The hedonic price model is widely applied to study the urban housing market because of the heterogeneity of housing products. Literature indicated that the hedonic price theory mainly includes two parts: Lancaster’s partiality theory and Rosen’s characteristic market equilibrium analysis. This paper chose 18 characteristics as independent variables and set up a linear hedonic price model for Hangzhou City. The model was tested with 2473 housing samples and field survey data of 290 housing commu-nities. This research found that 14 out of 18 characteristics had significant influence on housing price. They were classified into 5 groups according to their impact degree.
基金Under the auspices of the Research Client West Oakland Environmental Indicators Taskforce, Talented Foundationof Northeast Institute of Geography and Agroecology, Chinese Academy of Sciences (No. C08Y17)
文摘A hedonic linear regression model is constructed in this paper to estimate property value, In our model, the property value （sales price） is a function of several selected variables such as the property characteristics, social neighborhoods, level of neighborhood environmental contaminations, level of neighborhood crimes, and locational accessibility to jobs or services, Definitions and calculation of these variables are approached by using Geographic Information System tools, For improving estimation, gravity model is employed to measure both levels of neighborhood toxic sites and crimes; and a time-based method is used to measure the loeational accessibility rather than simple straight-line distance measurement. This study discovers that the relationship between house value and its nearby highway is nonlinear, The methodology could help policy makers assess the external effects of a property. Our model also could be used potentially to identify the current and historic trends of development caused by neighborhood or environments change in the study area.
文摘The aim of this study is to identify the variables affecting land value. Examined land was selected from the village in Vientiane capital city Laos. Data was collected from 100 villages in center of Vientiane capital city by using survey methods. A hedonic price analysis was conducted to determine the marginal return to different land characteristics using an econometric model corrected for correlation. Parcel characteristics such as distance to public park, village income, distance of population, number of the school within 500 meters buffer, distance to the temple, distance to the major market and distance to the business center （CBD）. Arc GIS 9.2 was applied to calculate the distance of the factors, after that SPSS 15.0 was used to calculate the land price characteristic based on hedonic price model. The results showed that the distance to the center of population was the main factor influencing to the land price, and followed by school and village income. Map of the land price before and after hedonic price analysis were produced. The land price valuation approaches based on hedonic price model for Vientiane capital city were developed and land price map were predicted. Hedonic price model and GIS were very useful for this research, and finally the policy of the land valuation based on GIS was developed.
基金the National Natural Science Foundation of China(Nos.61703014 and 62073008).
文摘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.
文摘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.
基金Sponsored by National Natural Science Foundation of China (51808413)General Project of Hubei Social Science Fund (2018193)+1 种基金Innovation and Entrepreneurship Training Program for College Students in Hubei Province (S201910490024)University-level Graduate Innovation Fund of Wuhan Institute of Technology (CX2019036)。
文摘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.
基金Supported by National Social Science Foundation(12CGL092)
文摘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.
基金Supported by the National Natural Science Foundation of China(No 70973065)
文摘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.
文摘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.
基金National Natural Science Foundation of China, No.41401164, No.41201128
文摘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.
