Application Of Hedonic Model In Secondary Housing Market In Jinan

All along, the housing problems associated with people’s lives, although the price is high, but the enthusiasm of buying remains high. Real estate market is a sign of a market economy, because it is closely linked with the current economic situation. Second-hand housing market is an important part of the real estate market, second-hand housing market in Jinan has better trend than new housing market, it’s second-hand housing market can not been ignored. In recent years, the transaction price and trading volume have continued to grow. As second-hand house prices cheaper than new housing, buyers have increasingly been taken second-hand house into account. Therefore, the study of Jinan hand housing market has a certain practical significance.This article chooses the second-hand housing market in Jinan as the research object. In the beginning of this content, introducing the research background, significance and the Hedonic model applicability in the residential market.Then we describe in detail the research methods and technology roadmap.The theory contains hedonic price model of domestic and foreign research results and literature review.Foreign literature review mainly on the hedonic price theory and model development process, the theoretical basis of hedonic price model:Lancaster consumer preference theory and theory of market equilibrium of Rosen. Domestic literature. According to the theoretical research and empirical application, making detailed classification and analysis. Introducing a wide range of applications in various fields and the progress in this regard of our country while discussing the domestic research status briefly.Finally introduced the basic concepts underlying theoretical basis, the model content, and model estimates and inspection of Hedonic model.Secondly, Describing the secondary housing market in Jinan. Including the background of geographic and economic of second-hand house market, the importance of the real estate industry in China’s economic development. Then summarizes the market situation according to the secondary housing market in Jinan2012and get a detailed analysis of market characteristics. Through in-depth analysis of the secondary housing market in Jinan, and further summarized the second-hand housing market transactions mainly driven by rigid demand, speculation is decreasing and policies tremendously impact on the second-hand housing transactions, small and medium-sized houses are occupy a large proportion in the transaction and the house agency also try to attract customers by optimizing services.Thirdly,Including build models, quantitative empirical data and the empirical analysis. First, the article explained the scope of the study, data sources, etc,and summarizing the statistics of the residence community simply. Secondly.quantified the data in accordance with the building, neighborhood, locational characteristics, and different quantitative methods were used to different data. Then, made a statistical analysis by Eviews software to get the sample results of descriptive statistics and residential hedonic price analysis.We used three models:Linear, semi-logarithmic and logarithmic.The regression results showed that the explanation ability of Logarithmic model returned the best results,is more suitable for analysis of housing characteristics explain the impact of second-hand prices.Finally, Getting housing prices and housing characteristics of a linear relationship..and analyzing and interpreting the results of the model. The results show that:In addition to fitting degree, garage, greening rate, the other11variables were entered into the model. In11variables the construction area, the distance from the business district, property costs are in top three of housing prices influence. Residential age, floor, facing, floor area ratio, supporting education, transportation, life support, parks followed in turn.