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...
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| Published in | Journal of Zhejiang University. A. Science Vol. 6; no. 8; pp. 907 - 914 |
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| Main Author | |
| Format | Journal Article |
| Language | English |
| Published |
Department of Civil Engineering, Zhejiang University, Hangzhou 310027, China%Center for Real Estate Studying, Zhejiang University, Hangzhou 310027, China
01.08.2005
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| Subjects | |
| Online Access | Get full text |
| ISSN | 1673-565X 1862-1775 |
| DOI | 10.1631/jzus.2005.A0907 |
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| Abstract | 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 communities. 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. |
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| AbstractList | 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 communities. 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. F290%TU976; 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 communities. This research found that 14 out of 18 characteristics had significant influence on housing price. They were classified into 5groups according to their impact degree. |
| Author | 温海珍 贾生华 郭晓宇 |
| AuthorAffiliation | Department of Civil Engineering,Zhejiang University,Hangzhou 310027,China Cemer for Real Estate Studying,Zhejiang University,Hangzhou 310027,China |
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| Cites_doi | 10.2307/1928231 10.2307/1230278 10.2307/3138610 10.1006/juec.1997.2071 10.1086/259131 10.2307/3147070 10.2307/1924995 10.1007/978-94-011-3915-1 |
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| Issue | 8 |
| Keywords | Housing price Hedonic price model Housing characteristics |
| Language | English |
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| Publisher | Department of Civil Engineering, Zhejiang University, Hangzhou 310027, China%Center for Real Estate Studying, Zhejiang University, Hangzhou 310027, China |
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| References | T.L. Chin (680907_CR3) 2003; 27 K.J. Lancaster (680907_CR8) 1966; 74 R.B. Palmquist (680907_CR10) 1984; 66 680907_CR15 K.W. Chau (680907_CR2) 2001; 69 B. Harsman (680907_CR7) 1991 R.G. Ridker (680907_CR11) 1967; 49 A.C. Goodman (680907_CR5) 1998; 44 F.V. Waugh (680907_CR14) 1928; 10 P.F. Colwell (680907_CR4) 1999; 75 S. Rosen (680907_CR12) 1976; 82 H.A. Wallace (680907_CR13) 1926; 2 680907_CR6 S.X. Ma (680907_CR9) 2003; 36 H.J. Chang (680907_CR1) 1999; 10 |
| References_xml | – volume: 49 start-page: 246 year: 1967 ident: 680907_CR11 publication-title: The Review of Economics and Statistics doi: 10.2307/1928231 – volume: 10 start-page: 185 year: 1928 ident: 680907_CR14 publication-title: Journal of Farm Economics doi: 10.2307/1230278 – volume: 82 start-page: 35 issue: 1 year: 1976 ident: 680907_CR12 publication-title: Journal of Political Economy – volume: 2 start-page: 385 year: 1926 ident: 680907_CR13 publication-title: Journal of Land and Public Utility Economics doi: 10.2307/3138610 – volume: 44 start-page: 291 issue: 2 year: 1998 ident: 680907_CR5 publication-title: Journal of Urban Economics doi: 10.1006/juec.1997.2071 – volume: 10 start-page: 1 issue: 4 year: 1999 ident: 680907_CR1 publication-title: International Journal of Information and Management Sciences – volume: 27 start-page: 145 issue: 2 year: 2003 ident: 680907_CR3 publication-title: International Journal for Housing Science and Its Applications – volume: 69 start-page: 26 year: 2001 ident: 680907_CR2 publication-title: Appraisal Journal – volume: 74 start-page: 132 issue: 1 year: 1966 ident: 680907_CR8 publication-title: Journal of Political Economy doi: 10.1086/259131 – volume: 75 start-page: 620 issue: 4 year: 1999 ident: 680907_CR4 publication-title: Land Economics doi: 10.2307/3147070 – volume: 66 start-page: 394 year: 1984 ident: 680907_CR10 publication-title: Review of Economics and Statistics doi: 10.2307/1924995 – volume: 36 start-page: 59 issue: 9 year: 2003 ident: 680907_CR9 publication-title: Journal of Civil Engineering – ident: 680907_CR6 – volume-title: Housing Markets and Housing Institutions: An International Comparison year: 1991 ident: 680907_CR7 doi: 10.1007/978-94-011-3915-1 – ident: 680907_CR15 |
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| Title | Hedonic price analysis of urban housing：An empirical research on Hangzhou, China |
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