Feature Prices of Urban Residential Properties: Theoretical and Empirical Research

Author: Wen Haizhen
Publisher:
Publish Date: 2005-04-01
Features: This book takes the five administrative districts of Shangcheng, Xicheng, Xihu, Gongshu, and Jianggan within the main urban area of Hangzhou as the research area. The sources of research data are mainly divided into four categories: residential listing data, residential transaction price data, residential community survey data, and Hangzhou's electronic map data based on GIS. The author conducted field surveys on 290 residential communities within the research area and obtained 4,063 residential listing transaction samples from real estate agencies. Through the examination of sample data and the integration of residential community survey materials, 2,473 valid samples were obtained, covering the period from January 1, 2003, to July 31, 2003. Finally, four methods (actual observation data, hierarchical assignment, comprehensive evaluation scoring, and dummy variables) were used to encode and quantify the relevant variables of the research samples. Future research can expand in areas such as the selection and quantification of residential characteristic factors, the optimization of model function forms, the comparison of market segmentation methods, and the application of hedonic pricing, to conduct more empirical studies.