Research On The Effect Of Location And Neighborhood Characteristics On House Price

The real estate industry plays a decisive role in the national economy, its running state directly influence the health and stable of the country economy and the safety of the financial system, at the same time, the wealth effect of real estate are directly or indirectly affect the standard of living of the residents. Therefore, the real estate price, as the embodiment of the value of real estate, is widespread focused in the community. With the act of government control over the first half of the 2013 ’new country of five’, a new government concept of ’removing government administration and replying more on the market’ comes out, As a fact of charging more cities of property tax and a new round of the urbanization tide, it is necessary to further study and explore the real estate price.The actual data shows, different location of a city, housing prices vary greatly, this paper is going to take Shanghai as an example, using hedonic price model, research on the location characteristic impact on prices. Attempts to explain the impact on real estate prices from location and neighbor characteristicsThe article start researches in the housing price from the theory of domestic and foreign. Propose to apply the hedonic price model to the application of domestic housing price research which is widely used abroad. Combining a method of theoretical analysis and empirical analysis. Firstly, go through the history and the theory fundamental of the hedonic price model. And then, analyze how the location catachrestic impact the housing price. Afterwards including the school and community variables in the location position basis, further analyze the impact.The innovation of this paper lies mainly in(1) This article takes an average price of one district instead of every individual prices of the house to do the research which can neglect so many house related stand alone characters.(2) This article takes subway accessibility rather than the number of bus lines which are widely used, as the research variables to do the research for the flexibility of the traffic of the city.(3) This article research the impact of school and community on housing prices which are seldom studied by domestic papers.(4) the data is new from the 2013-2014, it is a good reference for the government and estate developers to well plan the real estate development of the city.