Commercial Housing Hedonic Price Model And Empirical Research

For years, researchers at home and abroad has been made for a variety of theories and methods of commercial housing price or value of research, trying to construct the mathematical model can reflect the value or price of commercial housing, in order to evaluate the commercial housing price and its influencing factors and the influence degree of the factors affecting, analysis of each category commercial housing’s relationship of supply and demand prediction the price trend. Compared with other commodities,commodity residential house have characteristics which can not be mobile, totally differentiated, expensive, poor mobility and others. these features make the econometric price analysis method hedonic based on price theory has become the mainstream in foreign countries.First, it introduces the origin of the hedonic price theory, analyzing the present research situation of the commodity housing hedonic price theory at home and abroad, and discussing the assumptions and the conditions of hedonic price theory and equilibrium analysis of the characteristics market. Then, it introduces three typical kinds of functions of the commercial housing hedonic price model. they are linear function, semi logarithmic function and logarithmic function. it discusses the issues of selection about the model of the characteristics price function, and the common problems of the hedonic price model estimation, testing methods and model estimation. finally, A preliminary analysis of the types and choice of characteristic variables of commodity housing price has been made.In the empirical research on commercial housing hedonic price model, this paper chooses Shenzhen secondary housing market as analysis object, which is a mature development market. it uses the network sale price of the second-hand commercial residential for the analysis. In this paper, a detailed description of the specific quantitative method to collect process and the price of commercial housing characteristics of the sample data.Through the statistical analysis software IBM SPSS Statistics 19, it has been made the respectively regression analysis to the linear function, logarithmic function and semi logarithmic function by using the network listing price data of second-hand commercial residential and the before data acquisition, estimated value of each parameter in the model.through the test of the three models by statistical test, econometric analysis and economic significance test, and through comparative analysis, ultimately determine the hedonic price model of logarithmic accuracy is relatively high, at the same time, to determine the basic influential factors of second-hand commercial housing price in Shenzhen city and its influence.