A Geospatial Analysis of the Average Selling Price for New Apartments in Hangzhou, China

Ke Chen, Gary Shelley and Edward Baryla, Jr.

Journal of Housing Research, 2011, vol. 20, issue 1, 19-34

Abstract: This paper provides evidence on the factors that influence the average selling price of an apartment in Hangzhou, China. Geospatial mapping techniques and an unbalanced panel regression model are used to estimate the effect of externalities on the average selling price. The results show that nearness to location-specific factors such as the central business district, schools, landfills, and a major highway all have significant price impacts. The district in which an apartment complex is located also often significantly affects price. The findings reveal nonlinear relationships between the average selling price and apartment size, a time trend, and the minimum distance from a cemetery.

Date: 2011
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DOI: 10.1080/10835547.2011.12092035

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