Application Of Hedonic Model In Architecture Economy Analysis

Recently, under national policy and financial crisis influence, the domestic prices in major cities have shown a certain level of decline. However, housing prices in Taiyuan, Shan xi has been exhibiting a steady and steadily developing trend, even'high price housing', average price of which exceeded 10,000 RMB per square meter, appeared. Ordinary buyers'high attention Tai yuan city housing prices have been caused by Taiyuan city housing prices. Thus it has great significance in theory and practice aspects to economic analysis of investment in the construction field.As foreign real estate market is mature and date can be collected easily. As result of that, hedonic pricing model is frequently used in the analysis of housing market in western developed countries, and it has a high degree of pertinence and real-time. However, domestic scholars mainly carry on qualitative study from the supply-demand relationship, the composition of the housing price and housing policy etc, there is few quantitative researches on housing product attributes. The paper mainly used hedonic model to analyze the housing hedonic price and price elasticity in Taiyuan market,and established the hedonic model of Taiyuan housing market and validated the purchasing power of this model. Compared with traditional methods, establishing a pricing model with hedonic model, has many unique advantages.This paper establishes a hedonic pricing model of Taiyuan housing market with utilizing the 127 databases of housing clusters from 2007 to 2009, and explores the impact of district, traffic lines, distance from city center , green ratio, floor ratio, property management fees, parking, education facilities, living facilities, nature and time on the housing price separately.The results show that concerning with housing characteristics of buyers have shifted from original construction cost of housing to distance from the city center,property management fees, the education facilities , the living facilities as well as factors such as changes gradually.Despite the truth that the housing costs of housing prices is still a major factor, demonstration of the trend shows that this kind of influence is in reduction. Home-buyer demand effect is increasing gradually to the housing price influence.In next few years,this shift in the trend may be reflected in more obvious situation.Developers cannot think again,so long as on land develops the housing to be able to obtain sudden and huge profits,and they should give a heavy consideration to homebuyers'demand. Only above ideas has been realized, the development construction which can meet the home-buyer need, Play a greater economic investment in building.The research on the hedonic price of the urban housing has been on the beginning way,and this dissertation is an exploration research in certain meaning. The experiential research is only limited to the city of Taiyuan and time span of samples is not long enough, so the applicability and the dependability of researching conclusions may remain to be examined in the future. It can carry on more experiential and optimizing of model form, the quantify of characteristic variables and research on the model characteristics of super-sample etc.