Spatial Pattern And Microscopic Influence Factors Of The Price Of Residential Land

Land price is considered as an indicator reflecting the land economy quality. It also plays an important role in operating the land market on condition of macroeconomic regulation. Recently, the central government has adopted a variety of macroeconomic regulation policies to stabilize the price. However, the price in the land market and real estate market are still kept at a high level. Thus, how to give full play to the market mechanism in the urban land market is a problem in managing the land use in urban areas. The key to the problem is to understand the formation mechanism of urban land price and its inherent rule.Currently, there are many studies on the urban land price. While few of them focuses on the empirical studies of the factors determining urban housing price. Most previous studies adopted traditional techniques such as Hedonic models which based on the ordinary least squares (OLS) method.However, those models overlook the spatial nonstationarityin forming the land price and hide important local variations in the model parameters. To better examine the spatially varying relationships between land price and its influence factors, Geographically Weighted Regression (GWR) is introduced in studies.This study took the urban areas in the city of Wuhan as the study area, used the land transactiondata in the urban residential areas from2001to2011as samples, and selected ten factors that determine housing price. By applying data analysis and model calculation using GWR3.0, regression coefficient for each factor of each sample was collected. Surfer9.0was also used to visualize the results, which helps analyze the influence of each factor on the spatial structure of urban housing price, and get a better description on how those factors makethechanges of direction, degree and spatial distribution of urban housing price. Moreover, the tool is useful to explore the possible reasons for the changes.The thesis is divided into six parts. Chapter One introduces the background, purpose, and significance of this study as well as technical route and methods. Chapter Two is the literature review, which briefly summarizes the domestic and foreign researches on this topic. Chapter Three focuses on the recognition and quantification of microscopic factors that determine urban housing price. Chapter Four gives an introduction to the principles and the advantages of GWR model. Chapter Five is an empirical study, mainly focusing on the analysis of microscopic factors in determining the spatial pattern of housing price in Wuhan. Chapter Six is conclusions and recommendations for future research.