Development of land valuation approach based on hedonic model--A case study of Vientiane capital city Laos

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.

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.

Hedonic price analysis of urban housing:An empirical research on Hangzhou,China

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.

Testing of relationships among spatial accessibility,property characteristics and property value

A novel hedonic model based on spatial accessibility is proposed.This model changes the traditional planar hedonic model from two dimensional to three dimensional(3 D).A 3 D model through space syntax and quantum geographic information system platform was developed.Then,this model was tested through an analysis of 174 residential areas in Tianjin’s central district.Accordingly,the impact of 3 D location characteristics on the property value was examined.The results suggest a positive correlation between spatial accessibility and property value on a city-wide scale.Mass transit may exert negative influences,such as traffic noise and air pollution.On submarket scales,the property value may be influenced by urban functions,historical background,and street layout.The negative correlation between the bedroom number and price reflects a higher real estate market investment value in the Heping District and the high demand for small and medium-sized houses in the Hongqiao and Hedong Districts.This study provides insights for improving neighborhood plans and housing design,and policy making concerned with promoting balanced progress of social,economic,and spatial priorities.

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.

The Effects of Public Green Spaces on Residential Property Value in Beijing

A number of empirical studies in Euro-American region consistently demonstrate that, parks and open space have a positive impact on property values. However, this effect has not been investigated in Beijing, China. And the public and city managers often ignore or underestimate the role of urban green spaces. This paper surveyed the relationship between the average house prices of 76 residential areas and 14 parks in Beijing, and measured the total benefits of 18 070 ha public green spaces on residential property value, by using the inventory data of urban green spaces （2009） and GIS techniques. Results showed that the residential property values located 850-1604 meters away from parks achieved a 0.5% to 14.1% increase in sales price. The overall benefit of Beijing’s public green spaces on residential property was 2.86 billion CNY （1 USD=6.83 CNY）, and the average benefit of per hectare public green space was 0.16 million CNY, corresponding to 1.8-3.9 times of the maintenance cost of green space in Beijing. Therefore, there is chance for local governments to increase property tax revenues due to the creation and maintenance of urban green spaces.

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.

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.