Research On Rent Pricing Of Public Rental Housing Based On Hedonic Model

From ancient times to the present,the housing issue has been a major issue concerning the country and the people.Since the beginning of this century,China’s real estate prices have risen rapidly,and low-and middle-income groups cannot afford high housing prices.In response to this phenomenon,China is making every effort to improve the housing security system,promote the development of public rental housing,and solve the housing problem of the "sandwich layer" group in a targeted manner.In order to promote the realization of "people’s own housing",in 2021,the General Office of the State Council issued the "Opinions on Accelerating the Development of Affordable Housing",proposing to build a multi-channel guaranteed and multi-subject supply affordable housing system,and accelerate the implementation of the rent-purchase system..However,the construction of improving the public rental housing system is a complex system project,so some problems will inevitably arise,among which the reasonable rent pricing of public rental housing has also become the key to the development of affordable housing.If the rent pricing is unreasonable,it will not only affect the scientific quantitative financial subsidy,but may even fail to achieve the fundamental purpose of protecting people’s livelihood.So,reasonably formulate rent standards for public rental housing is conducive to the healthy and sustainable development of affordable housing.This paper uses a combination of theoretical analysis and empirical analysis to explore the rent pricing of public rental housing.According to the characteristics of public rental housing,the public product theory,housing gradient consumption theory,social security theory and characteristic price theory are used,and the characteristic price model combined with principal component analysis method is used to construct the rent pricing model,and representative cases are selected to explore its applicability.By comparing the evaluation results with the traditional valuation results,the rationality and accuracy of the model are verified.The results show that when pricing the rent of public rental housing,the valuation results based on Hedonic’s rent pricing model are reasonable,and can provide certain reference opinions for rental price makers and decision-makers.In terms of content,this paper first analyzes the connotation of public rental housing and the model,the difference between pricing theory and rent pricing compared with ordinary commercial housing,and sorts out the relevant research literature at home and abroad,so as to provide theoretical support for the research of rent pricing.Secondly,the current situation of rental pricing in many cities at home and abroad is summarized,and the current mainstream pricing method of cities is obtained as the market-oriented method,and the advantages and disadvantages of the current pricing method are discussed.Then,the influencing factors of public rental housing rental price are systematically analyzed,and the principal component analysis method is introduced to reduce the dimensionality of the influencing factors,and the obtained principal components are used as characteristic variables to construct a Hedonic model of public rental housing.Finally,through case analysis,the model valuation results are compared and analyzed with the market-oriented evaluation results,and it is found that the error of the model valuation results is low,which verifies the rationality of the valuation model constructed in this paper.