The Analysis of Second-Hand Housing Prices in Jiangmen City, Based on Semi-structured Interview and Hedonic Model

Jiajing Liao ()
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Jiajing Liao: Shenzhen University

A chapter in Proceedings of the 25th International Symposium on Advancement of Construction Management and Real Estate, 2021, pp 789-799 from Springer

Abstract: Abstract The soaring housing prices in Chinese cities have aroused wide concern from all walks of life. The limited land resources for real estate development make the demand for second-hand housing increase day by day, and second-hand housing has gradually become an important part of the real estate market. First of all, through semi-structured interviews, this paper analyzes the relationship between the price of second-hand housing in Jiangmen and its micro-attributes from the perspective of consumers and real estate agents. Then, by integrating the open data of anjuke.com and Baidu map POI, this paper establishes a Hedonic model to further confirm that the architectural characteristics, location characteristics and neighborhood characteristics of second-hand housing have a significant impact on its price. Among these factors, the year of construction, the degree of decoration, whether there is an elevator, the proximity to the school, and the proximity to the business district have significant positive impact on the price of second-hand housing. The factors of floor and floor area have a significant negative impact on the price of second-hand housing.

Keywords: Second-hand housing prices; Characteristic price theory; Open data; Semi-structured interview (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-3587-8_51

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DOI: 10.1007/978-981-16-3587-8_51

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