Research On Mass Appraisal Method Of Real Estate Of Nantong Basing On Hedonic Price Model

Along with our country’s urbanization, marketization and rapid economic development, the price of real estate is the main factor as the adjustment of supply and demand in the market economy, in addition to adjust the allocation of resources of house industry, whose evaluation methods matter a lot. After year 2003, the Chinese government intends to start real estate tax reform. From the present stage of the deed tax to the property tax under research, inheritance tax that may be imposed, computing speed of the housing stock evaluation methods, scientific and fair. Mass appraisal for second-hand housing of Nantong as the second-tier cities is important.Considering both domestic and foreign literatures, this paper summed up related theory of mass appraisal method for the second-hand housing, proposed Hedonic Price model basing on the theory of utility to realize the real estate assessment of Nantong, used actual data of 550 communities of Nantong urban region, according to current development situation and real assessment requirements of real estate transaction market of Nantong urban region, constructed adapted to the characteristics of urban Nantong stock housing market Hedonic Price model for mass appraisal method. This article selected out preliminarily 12 characteristic variables in order to make a discussion of both the factors which influence regional real estate prices and appraisal model.The research of this text tends to increase application fields of mass appraisal of second-hand housing of Nantong, for example, taxable price assessment, the calculation of price index for house market price control, a number of price data for investment guide, house price reference for city municipal construction and research of spatial discrimination feature. Results showed that a half in the form of logarithmic function characteristics in Nantong urban housing stock price model has best performance for Hedonic Price model applications among the linear model, half logarithm model, logarithm model, linear four model and logarithm model. Property types, external natural environment, acreage, age of building, property administration status, the order number of floor and the inside environment of community are seven variables that are identified as hedonic variable which influence real estate price of Nantong.