The Application Of The Hedonie Model In The Real Estate Appraisal

The paper takes the Beijing ordinary commercial housing as the research object, at first analysis the development process of the real estate and related concept domestic and overseas, then introduces three kinds of evaluation method and their defects in operation. I introduce the hedonic pricing model into my paper to make up for these defects.The paper based on mass actual transaction data of ordinary commercial housing and extensive related literature about hedonic pricing model, combined with the characteristics of beijng ordinary commercial pricing and the questionnaire I did, I find out the characteristics of property of ordinary commercial pricing in Beijing which affect the real estate prices and lay a good foundation to build the hedonic.In hedonic model, how to choose the right model and function equation is important, I used the most simple linear equations. I studied my questionnaire and selected some characteristics of real estate property which were recongnized by the public, then build the hedonic price model of Beijing ordinary commercial based on the transaction data I collected. After detected and improved the model I got the characteristic equation which is high degree in line with the Beijing estate market, it means it is possible to introduce the hedonic pricing model to real estate assessment.