| The development of real estate is the need of social development, and golf course is a product of social economic development. The golf industry and real estate industry combine to the golf real estate. With the economic situation of a highly development in China, more and more projects were exploited by both of golf industry and real estate industry. The interaction and mutual influence between them caused the growing concern. In this way, the research about the influencing factors of a golf course on residential property values becomes a centre which the academia of golf and real estate pay attention to.This research established a hedonic pricing model of Beijing golf housing market through analyzing 200 samples data of the housing market around 7 golf courses in Chaoyang District of Beijing from 2009 to 2010,analyzed the impact of 10 hedonic variables such as the construction area, age, number of rooms and other features on golf residential prices. The results showed that: (1)This research chooses the golf residential market in the Chaoyang District of Beijing as the research object, and collate and quantify data of 200 samples, then uses the logarithmic model which established in this research to execute the regression analysis, and obtains the regression coefficients of characteristics variables, definitively established golf residential hedonic price model in Chaoyang District of Beijing: lnP=2.396+0.623* lnarea-0.137*location+0.207*bed+0.131*design+0.005*floor-0.018*age+0.031*golf+0.0033*fame-0.0042*lndistance+0.023*timetrend. This model meet basically assumptions of normality and variance about the residual, which have good Imitation degree and a greater ability of explanatory , can be used to analyze and explain the impact of the residential characteristics on housing prices.(2)There are five characteristics which have the greatest impact on housing prices, followed by: golf real estate prices in the Chaoyang District, area, number of bedrooms, whether directly adjacent to the golf course, age and time factors .(3)This research finds the discipline that the independent variables change with the dependent variable by the semi-elasticity analysis of price to residential characteristics. The estimated regression coefficient of whether directly adjacent to the golf course is 0.031 (0.01 |
PDF Full Text Request