Analysis Of Influencing Factors Of Second-hand House Prices In Shanghai

With the hot second-hand housing market,the second-hand housing transaction volume increases year by year,especially in China's first-tier cities,the second-hand housing transaction volume has exceeded the new housing transaction volume.The research on the influencing factors of the price of second-hand houses is also becoming more and more important,which is helpful for the owners of second-hand houses and housing agents to excavate the value of houses in the pricing process and improve their competitiveness.And for homebuyers,knowing the factors that affect second-hand homes can also help prevent spoofing and inflated prices.In the past,people used to consider the factors influencing the price of second-hand housing by experience.In this paper,through the acquisition of second-hand housing data from HOME LINK Shanghai,qualitative exploration and quantitative research are conducted.This paper carries out descriptive analysis and visual analysis on 23 factors that may affect the second-hand housing price,preliminarily explores the influence degree of each variable on the housing price,and establishes the partially varying coefficient spatial autoregressive model for quantitative research.Firstly,the unknown parameters in the model were estimated by the contour quasi-maximum likelihood method,and then the group lasso was used for variable selection.Seven variables that were not significant,such as the distance from the bus station,were deleted.Secondly,CTAR method was used to identify the model,and the distance between the middle school was identified as a constant coefficient variable.Finally,analyze the influence factors of Shanghai housing prices in detail,including the number of bathrooms,area,construction type,structure,decoration,equipped with elevator,fixed number of year of the house,the distance of subway,shopping malls,hospitals,kindergartens cinemas,restaurants and gym.This paper found that in terms of the impact on Shanghai second housing prices,overall,the area and the distance from the subway have the greatest impact on the price of Shanghai second-hand housing.From the perspective of different administrative regions,whether the elevator is equipped or not has a greater impact on the housing supply in Fengxian,Pudong,Qingpu,Baoshan,Putuo,Hongkou;the second housing price in Songjiang,Jiading,Xuhui,Huangpu,Jing 'an is greatly affected by the distance from the subway,while the secondary housing in Minhang and Changning is greatly affected by the distance from the kindergarten.