A Study On Correction System Of The Benchmark Land Price Based On The Hedonic Price Model

With the improvement of land market development degree and the increase ofmarket trading activities and trading cases, more and more assessors are using the dataof land deals to estimate directly. However, the benchmark land price coefficientcorrection method for parcel assessment still has an irreplaceable role in a long time.Benchmark land price correction system based on hedonic price model can overcomethe current urban land defects in establishing factor correction system, makingcorrection factor selection and determining the weights standardized and scientific,and ensures the correction system of science, rationality and accuracy.Based on benchmark land price updating project in Tangshan, Hebei province,the paper which taking Tangshan as the study area combined qualitative andquantitative research methods. Firstly, it was necessary to analyze the urban landmarket to summarize some important factors affecting land price in Tangshan fromfour aspects of location, present situation&development direction of land use, thecondition of the real estate market and the residential land price, understand theTangshan land market conditions. Secondly, using the characteristics of price theory,it identified14micro factors in the aspect of the individual factors, neighborhoodfactor and location factor. Finally,111residential lands which public sold between2009and2012were chosen to simulation characteristics price model using SPSSsoftware. Subsequently drawing the contour map of spatial distribution of residentialland prices in2009-2012to verify the rationality of model.The results proved that, plot ratio (0.582), the colleges and universities (0.336),business prosperous degree (0.267) were the most important factors affecting theresidential land prices in Tangshan. And the space distribution of geologicalconditions, business center, plot ratio and schools were in accord with the spatialdistribution of land price.