Research On The Price Of Subdistricts In Shanghai Based On Hedonic Price Model

With the market reform in real estate at end of the nineties,with the continuous improvement of people’s income, also with government financial deepening dependence on the land. People, government and real estate companies have paid close attention to the real estate prices over the years. As a first-tier city, the price of the real estate in shanghai get more attention at present. This paper is to create the suitable price model to the real estate price of subdistricts in Shanghai, based on the hedonic price model.This paper research the characteristics of factors that affect the price of subdistricts in Shanghai, then it use the hedonic price model to research the price of subdistricts in Shanghai from 2013 to 2014. First, it introduces the development situation of hedonic price models both in domestic and abroad, then it described the theory of the hedonic price model and established the hedonic price the model to the price of subdistricts in Shanghai according to the characteristics of it, including the choose the scope of the study, variable selection and quantization, the appropriate data sources, the regression model creation, hypothesis testing, the research of the factors that affect the price of subdistricts form both static and dynamic perspective, using dummy variable and interaction term to analysis and study the changing impact of these factors during the recent year. Hope to provide certain theoretical basis for sale and investment in housing to both property buyers and house companies.