Research On The Hedonic Price Of Commercial Housing In Zhengzhou

The housing is a necessity of life for each resident. Residential price volatility is not onlyrelated to the stable development of our country's economy, but also greatly affect the quality ofresidents' life, then the prices of urban housing problem has become a common focus of thecommunity. Under the auspices of Professor Zhang Suodi chaired by the National Natural ScienceFoundation project "City real estate dynamics and expected assessment model", the paper constructthe commercial housing price index system from the perspective of residential characteristics ofZhengzhou and take five ways to identify the role score of indicators, and through the regressionanalysis the hedonic price model of Zhengzhou commodity residential. According to those works, itanalyzes the residential characteristics of Zhengzhou, such as the direction and extent of the impactof housing prices. The main work of the paper is as follows:1. Constructed index system affects the price of commodity houses in the city of Zhengzhou.By summing up the literature and combined with the actual situation of the commercialhousing market in Zhengzhou, this article selected20residential characteristics as the independentvariables of the model, which was first proposed to build the residential price index system shouldtake into account the expected factors on housing prices, and as a expected factor, the subway wereanalyzed in the empirical study.2. Identified the role score of indicators.The paper based on the general commodity residential house in Zhengzhou as research object,by the main urban areas within the scope of the six administrative region as the study area, selected94in the sale of real estate data within the study area from September to November2011, and fivemethods were used to identify the role score of indicators, that is actual data, synthetically mark byappraising, graded assignment, dummy variables. Among the independent variables, commercialflourishing degree in this paper, it uses Professor Zhang Suodi's method which in urban landgrading and valuation integrated model for calculation of factors scores in the downtown in terms ofcommercial service to assign the degree of commercial flourishing. In property service quality, itreflects the quality of service with property services enterprise level of qualification instead of theproperty management fees to the property.In addition, this paper for the first time to developersbrand to quantify, and by level of qualification and corporate real estate development enterprises in2010, cumulative sales of real estate development in Zhengzhou ranked comprehensive reflection.3. Constructed the hedonic price model of Commercial housing in Zhengzhou.By building the basic model and logarithmic model of commercial housing's hedonic price inZhengzhou, it is estimated that the residential characteristics of hedonic price and marginal price. Studies have shown that the logarithmic model fit better and more suitable to be used to analyze theresidential market in Zhengzhou. On this basis, the author based on the number of model results, theresidential characteristics of the impact of housing prices sorted, randomly selected a real estatedata to validate the commercial housing in Zhengzhou and estimate the effectiveness of access tothe price of model results, the simulation results and the actual price. The result is that thedifference is slight, only1.8%. The test results show that the model can simulate real good in theresidential characteristics of housing prices. Then it has some practical value. For this reason, it willbe possible to make it available to the commercial housing market in the city of Zhengzhou, alongwith offering the appropriate information for the relevant government departments something aboutrational planning of urban layout and improvements of the urban infrastructures. Furthermore, italso provided references for developers something about residential development and pricinginformation.