Please wait a minute...
Journal of Zhejiang University-SCIENCE A (Applied Physics & Engineering)  2005, Vol. 6 Issue (8): 907-914    DOI: 10.1631/jzus.2005.A0907
Civil Engineering     
Hedonic price analysis of urban housing: An empirical research on Hangzhou, China
WEN Hai-zhen, JIA Sheng-hua, GUO Xiao-yu
Department of Civil Engineering, Zhejiang University, Hangzhou 310027, China; Center for Real Estate Studying, Zhejiang University, Hangzhou 310027, China
Download:     PDF (0 KB)     
Export: BibTeX | EndNote (RIS)      

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.

Key wordsHousing price      Housing characteristics      Hedonic price model     
Received: 18 September 2004     
CLC:  F290  
  TU976  
Cite this article:

WEN Hai-zhen, JIA Sheng-hua, GUO Xiao-yu. Hedonic price analysis of urban housing: An empirical research on Hangzhou, China. Journal of Zhejiang University-SCIENCE A (Applied Physics & Engineering), 2005, 6(8): 907-914.

URL:

http://www.zjujournals.com/xueshu/zjus-a/10.1631/jzus.2005.A0907     OR     http://www.zjujournals.com/xueshu/zjus-a/Y2005/V6/I8/907

[1] ZHOU Ling-qiang, WU Jian-hong. THE CONURBATION STRATEGIC OBJECTIVE IN THE CHANGJIANG RIVER DELTA AND THE DEVELOPMENT STRATEGY STUDY OF HANGZHOU AS AN INTERNATIONAL TOURIST CITY[J]. Journal of Zhejiang University-SCIENCE A (Applied Physics & Engineering), 2000, 1(3): 356-360.