The Research Of Storefronts Mass Appraisal Based On Hedonic Price Model

Recently, mass appraisal is widely used in residential real estate, meanwhile, it is more attractive to use mass appraisal in business real estate. The store down the street value evaluation in business real estate has distinct features, which make mass appraisal appropriate to stores down the street value evaluation.The meaning of researching mass appraisal stores down the street is:through empirical analysis, this paper is doing its best to result in a relative more appropriate method to quantize the influence factors of stores down the street value evaluation; researching how to use four basic models in different purposes, different numbers of evaluation influence factors, different adaptability and features after quantizing factors features; through analyzing data quantization, researching the ratio of the benefits and market value of stores down street value evaluation, for example, researching rental rate, operating profit interest, ratio of the basic rental rate and addition and the market value of taxable object; differing adaptability between hedonic pricing method and standard value adjustment method, to be direction of choosing routes of stores down street value evaluation, for instance, hedonic pricing method is generally used in area piece stores down street value evaluation, while standard value adjustment method is generally used Street profile and floor building stores down street value evaluation.This paper is based on analysis of mass appraisal stores down the street from a district in D City. The emphasis is theoretical analysis, and then proves the correctness through the real example. According to the characteristics of the stores down the street, combined with the already obtained data and store features down the street price model batch assessment points two stage characteristics, in this batch evaluation study, will assess range is divided into area piece, street profile and floor building three types. Based on area piece as the evaluation scope, this paper is doing the empirical analysis to mass appraisal stores down the street. Phase Ⅰ, through the empirical analysis, I think it can calculates objective rental rate level to make using of mass appraisal stores down the street; Using SPSS17.0, I find that linear model is the optimized among four basic models; select some stores which were not in these models and then doing the ratio analysis, I can figure out the final function of net rental rate and feature factors; then instead these factors into the function, I can get the net rental rate so that there is a strong basic to calculate the value of these stores. The second stage, select a store which has integrated information as a compared example, calculate its objective level capital change rate, then result in the store’s value per unit area by using the ratio of net rental rate and capitalized rate. To sum up, I checked the feasibility of Features price model method in empirical analyzing.The structure of this paper is:the first chapter, introduction, expounds the background of the research, and puts forward the research problem; the second chapter, introduction to the theory of mass appraisal stores down the street, analyzes research situation at inside and abroad, introduces the mass appraisal and analyzes basic models; the third chapter, construction of hedonic price model and selection of feature factors, determines steps to construct hedonic price models, research feature factors; the fourth chapter, data gathering and quantizing in empirical analyzing, introduces the general situation of researching object, analyzes method to gather and quantize data, besides set the standard of data quantizing; the fifth chapter, empirical analyzing of mass appraisal stores down the street in D City, using gathered data to evaluate these stores; the sixth chapter, research result and development, analyzes result, finds insufficient aspects, and then looks in distance about the mass appraisal stores down the street.