Shanghai Land Price Index Research Based On Web Crawler Data

Land resources have always been one of the most basic resources in the process of human social economic development,various economic activities including the investment decisions of enterprises and the solving of people’s basic necessities of life,are closely related to land resources.Its configuration directly affects the national economic efficiency and the quality of people’s living standards.With the gradual improvement of the degree of marketization of land industry in China,it is very important to calculate the reasonable index to effectively monitor the urban land price and grasp the trend of land price change with time.As we all know,although each of the transactions on the real estate market belongs to the same category of goods,they may be different in both observable or unobservable features.Because the land price index reflects the price level changes caused purely by the market factors,controlling the characteristic or quality differences between them is necessarily needed in the estimation of land prices.In this study,we use the web crawler technology to obtain the complete collection of land records in Shanghai over the years from the relevant website of the Ministry of Land and Resources.Through the analysis of the various dimensions of the data,it was found that the minimum administrative zoning information could be extracted by the method of text mining.In this way,we grouped the records of the transaction according to the geographical unit which can effectively replaced the previous land unobservable features.In addition,considering the differences in the observable features such as transaction mode,area,land level and industry use,this paper adopted the mixed model combining traditional Hedonic method and repetitive transaction method,comprehensively utilizing the ordinary observable features and geographical unit information,so as to obtain a more reasonable land price index.In general,the article is divided into three parts.The first part introduces the source and the collection method of the data in detail,and uses the descriptive statistics to excavate the distribution characteristics and trend characteristics of the land price.The second part is the construction of the index estimation method and the calculation of Shanghai annual land price index.Due to the diversity of urban land use(commercial,residential,industrial),there may be different supply and demand relationships in different types of land in the real estate market,three main types of land price index were measured based on this point.The third part is the interpretation of the results of the annual land price index.By comparing with other land price index results,it is found that the price index estimated in this paper is more in line with our intuition,which further proves the superiority of our method.The last part is the study of quarterly price index of industrial land and its interactive relationship with FDI.Due to the small amount of data,we have not estimate the quarterly price index for commercial land and residential land.