Study On The Evaluation Of Housing Price In Zhengzhou Based On Hedonic Price Model

Since the reform and opening up,China's rapid development of the real estate industry is not only a high price in the first tier cities,second tier cities and three lines of the city's real estate market is also extremely hot.2016 China's real estate market is the main style of inventory,the central bank cut interest rates to move the real estate market,the real estate has been digested.Zhengzhou city is very active in the house building during a high tide from the beginning of October 2015,prices have been rising,as of 2016 November,overall prices rose 4.11% in cities nationwide in the increase ranked fifth,second-hand housing transactions 75243 units,closing an area of 6 million 995 thousand and 600 square meters.After the introduction of hedonic price model in China,Beijing,Shanghai,Shenzhen and other large cities as an example of the study,two or three lines of medium-sized cities less.This paper takes Zhengzhou as an example to study the applicability of hedonic price model to two or three tier cities,and analyzes the main factors affecting the price of residential real estate in Zhengzhou.This paper first analyzes the status quo of Zhengzhou city residential real estate market,and through literature investigation,preliminary determine the influence factors of Zhengzhou city residential real estate prices,classification,characteristic factors and then determined using characteristic analysis method,quantitative order.After the analysis of the distribution of residential in Zhengzhou,the author draws a total of 100 communities in Zhengzhou,the 700 sets of real estate information for regression analysis.In this paper,three kinds of function forms are used to establish the regression model.By comparing the test values of the three function models,the functional equation which is suitable for the specific situation of Zhengzhou is determined.In order to test the applicability of the hedonic price model,the author selects 50 sets of residential information into the model to evaluate the real value of the price and the real estate price in order to verify the accuracy of the model.Through the analysis of the characteristic equation,we get the main factors that affect the price of residential real estate in ZhengzhouThis paper takes Zhengzhou city as an example to study the relevant conclusions are as follows: first,the hedonic price model,hedonic price appraisal method not only can be used for first-tier cities real estate valuation,also is applicable to the two or three line of the city.Second,it is confirmed that the logarithm function model fitting is the best in the three function forms,and it can be used as the characteristic equation of real estate appraisal.Third,the paper was established through regression analysis of Zhengzhou City real estate price analysis system,and ultimately determine the distance values of the distance,recreational and sports facilities,the school district room,near the park,floors,towards,education facilities,near the university are key factors of influencing the price.