The Influence Of The Urban Complex In The Main Urban Area Of ​​Kunming On Its Surrounding Housing Price

Since the introduction of the HOPSCA, along with the rapid development of the real estate market bustling with activity in general, HOPSCA has also been explosively grown in recent years, especially in the capital city and Kunming is no exception. As everyone knows, HOPSCA is so significant for the convenience of the city residents and the influences from the construction of HOPSCA in the city is quite far-reaching. The research about the HOPSCA is gradually increasing in recent years, but few studies have devoted to the effects on the prices of surrounding property from HOPSCA. This paper uses the hedonic price model, selecting three HOPSCAs which can represent all of the HOPSCAs in Kunming——Beichen wealth centres & Xindulongcheng and Kunming Tongde square and Xishan Wanda, then the author analyzed the impact on the price of surrounding property. Through research, we obtained the following conclusions: First, were the HOPSCA had got a railway station, would produce the premium on the prices of surrounding property. The price of property surrounding the HOPSCA with the railway station is higher than the property surrounding the HOPSCA without the railway station by averagely 5.4%. The marginal price is 52325.97 yuan. Second, the larger the volume of the HOPSCA is, the premium produced by the HOPSCA is more. Every increase of the volume of the HOPSCA by 1%, the prices of the surrounding property increased by 0.226%.it means that every increase of the volume of the HOPSCA by 100,000 square meters, the prices of the surrounding property increased by 34110.12 yuan. Third, the further the distance from the apartments to the HOPSCA, the lower the prices of the apartments. Every increase of the distance by 1%, the prices of the property decreased by 0.057%. Every increase of the distance by 100 meters, the prices of the property decreased by 6349.77 yuan. But the decline would not be forever. The Effective range of the HOPSCA is about 1200 meters average by calculation. We can define that the effect of the HOPSCA on the surrounding properties is too weak to be taken into consideration when the property is beyond the effective range. Last, the effective range of Beichen wealth center&Xindulongcheng is 800 meters, and the effective range of Kunming Tongde square is 700 meters and the effective range of Xishan Wanda is 2550 meters.