Distribution and Determinants of Housing Prices in Polycentric Mountainous Cities: The Case of Chongqing

Meng-Wei Wang (wangmw0523@163.com), Yong Liu (ly6505@163.com) and Xiu-Hua Liu
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Meng-Wei Wang: Southwest University
Yong Liu: Southwest University
Xiu-Hua Liu: Southwest University

Chapter Chapter 72 in Proceedings of the 19th International Symposium on Advancement of Construction Management and Real Estate, 2015, pp 879-889 from Springer

Abstract: Abstract Based on 5410 sold residential projects, this paper used Kriging and the Geographically Weighted Regression (GWR) model to reveal the characteristics and determinants of housing prices in Chongqing. The results show that Chongqing’s housing prices formed a clear polycentric pattern: peaking at the major Central Business District (CBD) of Jiefangbei and sub-peaking at several Secondary Business Districts (SBDs). The pattern of housing prices was found to be influenced by accessibility of urban centers, urban facilities (such as schools, hospitals, metroline), Yangtze and Jialing rivers. Considering spatial non-stationary of housing prices, GWR model was further employed to reduce spatial dependency of data. The results of GWR model show that the more accessible to the nearest urban center is, the higher housing prices are; the nearer to rivers is, the higher housing prices are; the more proximity to metrolines, the higher housing prices are. To sum up, polycentric urban development is regarded as the underlying factors shaping housing prices in mountain Chongqing.

Keywords: Mountain city; Polycentric urban development; Housing price; Spatial pattern; Factors (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-662-46994-1_72

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DOI: 10.1007/978-3-662-46994-1_72

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