Based On The Characteristics Of The Price Model Of Pingxiang Commodity Residential House Pricing Research

As a commodity, housing is not only has value and use valve, but also has heterogeneity Each feature of constituting use value is significantly different between its products, such as residential location, floor, residential environment, number of rooms and offices, the traffic status in the area and so on. In order to reveal the differences of this feature combination, economists proposed hedonic price model. This model assumes that commodities have been sold as a whole with various features. Therefore, different additional features make housing different prices. Research about hedonic price model in the country has been developed in recent ten years. However, the construction of hedonic price model need to collect large amounts of data and to make relatively extensive survey, so there is not much empirical research on the relationship between the housing characteristics and housing price through analyzing the preferences of residential buyers in the country. Many scholars make such studies on first and second tier cities as Guangzhou, Shanghai, Wuhan, Hangzhou etc. The author makes empirical research on the small city is relatively few by searching data on VIP, Wanfang Data and CNKI. With the vigorous development of estate industry, in order to ensure the rationality of housing price, a scientific and effective pricing model is needed to structure for the remote city.The purpose of this paper is to provide a reference for Real estate prices studies of Pingxiang city by building housing market hedonic price model for it. Firstly, the article introduces the research background and significance. The second chapter introduces some basic theory about hedonic price model. The third chapter describes the construction of hedonic price model, including the feature variable selection, functional form of model, model estimation and testing, and the possible problems and treatment measures during constructing the model. The forth chapter describes the data sources and methods of data quantification. This data mainly comes from residential listing data, published data by community and electronic maps data. The quantification methods include qualitative and quantitative methods. The fifth chapter makes an empirical study of the hedonic price of the residential market in Pingxiang City. Comparing the basic model and the logarithmic model, the paper finally selects the logarithmic model as the residential market characteristics pricing model in Pingxiang City. The sixth chapter concludes this paper and makes the outlook of this study.