Spatial Reconfiguration of Housing Price Patterns and Submarkets in Shanghai Before and After COVID-19

Yunjie Feng, Zihan Xu, Jiaxin Qi and Yao Shen ()
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Yunjie Feng: College of Architecture and Urban Planning, Tongji University, Shanghai 200092, China
Zihan Xu: College of Architecture and Urban Planning, Tongji University, Shanghai 200092, China
Jiaxin Qi: College of Architecture and Urban Planning, Tongji University, Shanghai 200092, China
Yao Shen: College of Architecture and Urban Planning, Tongji University, Shanghai 200092, China

Land, 2025, vol. 14, issue 10, 1-29

Abstract: Housing markets worldwide have undergone major disruptions during the COVID-19 period, raising questions about how systemic shocks reshape housing preferences and spatial structures. This study develops an integrated spatial framework to examine multi-dimensional housing market restructuring, combining global and local modelling with network-based submarket delineation. Using Shanghai as a case study, we compare pre- and post-pandemic conditions (2019 and 2023) to explore fluctuations in housing prices, shifts in attribute effects, and reconfiguration of submarkets. The results reveal highly differentiated market responses across space. A dual restructuring is observed: decentralisation within the urban core and reinforced integration of outer-peripheral areas into the metropolitan centre, suggesting a gradual transition from a monocentric system towards a more polycentric and context-dependent housing landscape. Methodologically, the study proposes a transferable framework for analysing spatial restructuring under systemic shocks. Empirically, it provides fine-grained evidence of housing market reconfiguration across spatial scales, offering practical insights for spatially informed urban planning and housing market management.

Keywords: housing market; COVID-19; hedonic price model (HPM); multi-scale geographically weighted regression (MGWR); street network; network accessibility (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2025
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