Spatial heterogeneity in determinants of residential land price: Simulation and prediction

Dili Xuebao/Acta Geographica Sinica

Volumn 66, Issue 6, 2011, Pages 750-760

  Dong, Guanpeng ^a,b,c   Zhang, Wenzhong ^a,b   Wu, Wenjie ^d   Guo, Tengyun ^a,b  

^a INSTITUTE OF GEOLOGY AND GEOPHYSICS   (China)

^b INSTITUTE OF GEOGRAPHIC SCIENCES AND NATURAL RESOURCES RESEARCH   (China)

^c UNIVERSITY OF CHINESE ACADEMY OF SCIENCES   (China)

^d LONDON SCHOOL OF ECONOMICS   (United Kingdom)

Author keywords

Beijing; GWR; Hedonic model; Land submarkets; Residential land price; Spatial expansion model

Indexed keywords

ACCURACY ASSESSMENT; DEMAND ANALYSIS; GIS; HETEROGENEITY; LAND MARKET; PRICE DETERMINATION; REGRESSION ANALYSIS; RESIDENTIAL LOCATION; SPATIAL VARIATION; SPILLOVER EFFECT;

BEIJING [CHINA]; CHINA;

EID: 84860587924     PISSN: 03755444     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (32)

1. Rosen S. Hedonic prices and implicit markets: product differentiation in pure competition. Journal of Polital Economy, 1974, 82(1): 34-55.
2. Raymond Y C T. Estimating neighborhood effects in house prices: Towards a new hedonic model approach. Urban Studies, 2002, 39(7): 1165-1180.
3. Dubin R, Pace R K, Thibodeau T G. Spatial autoregression techniques for real estate data. Journal of Real Estate Literature, 1999, 7(1): 79-95.
4. Steven C, Bourassa S C. Spatial dependence, housing submarkets, and house price predition. Journal of Real Estate Finance and Economics, 2007, 35: 143-160.
5. Brasington D M, Hite D. Demand for environmental quality: A spatial hedonic analysis. Regional Science and Urban Economics, 2005, 35: 57-82.
6. Bitter C, Mulligan G F, Dall'erba S. Incorporating spatial variation in housing attribute prices: A comparison of geographically weighted regression and the spatial expansion method. Journal of Geographical Systems, 2007, 9: 7-27.
7. Paez A, Uchida T, Miyamoto K. Spatial association and heterogeneity issues in land price models. Urban Studies, 2001, 38(9): 1493-1508.
8. Dubin R, Sung C. Spatial variation in the price of housing: Rent gradients in non-monocentric cities. Urban Studies, 1987, 24: 193-204.
9. Goodman A. Housing market segmentation. Journal of Housing Economics, 1998, 7: 121-143.
10. Michaels R, Smith V. Market segmentation and valuing amenities with hedonic models: The case of hazardous waste sites. Journal of Urban Economics, 1990, 28: 223-242.
11. Schnare A, Struyk R. Segmentation in urban housing markets. Journal of Urban Economics, 1976, 4: 146-166.
12. Quigley J. Consumer choice of dwelling, neighborhood and public services. Regional Science and Urban economics, 1985, 15: 41-63.
13. Anselin L, Lozano-Gracia N. Spatial hedonic models. ASU Working Paper 2008-02.
14. Goodman A, Thibodeau T. Housing market segmentation and hedonic prediction accuracy. Journal of Urban Economics, 2003, 12: 181-201.
15. Can A. Specification and estimation of hedonic house price models. Regional Science and Urban Economics, 1992, 22: 453-474.
16. Theriault M, Des Rosiers F, Villeneuve P. Modelling interactions of location with specific value of housing attributes. Property Manage, 2003, 21: 25-48.
17. Fik T, Ling D, Mulligan G. Modeling spatial variation in housing prices: A variable interaction approach. Real Estate Economics, 2003, 31: 623-646.
18. Paez A. Local analysis of spatial relationships: A comparison of GWR and the expansion method. Lecture Notes Computer Science, 2005, 3482: 162-172.
19. Xiaolu G, Yasushi A. Influence of spatial features on land and housing prices. Tsinghua Science and Technology, 2005, 10(3): 344-353.
20. Hongbo D, Mulley C. Transport accessibility and land value: A case study of Tyne and Wear. RICS Research Paper Series, 2007, 7, 3.
21. Wu Wenjie, Zhang Wenzhong, Liu Zhilin et al. Tempo-spatial analysis of the residential land's spatial pattern in Beijing. Geographical Research, 2010, 29(4): 683-692.
22. Cheshire P, Shepherd S. Estimating the demand for housing, land and neighborhood characteristics. Oxford Bulletin of Economics and Statistics, 1998, 60(3): 357-382.
23. Zheng S, Kahn M E. Land and residential property markets in a booming economy: New evidence from Beijing. Journal of Urban Economics, 2007, 63: 743-757.
24. Wu Wenjie, Liu Zhilin, Zhang Wenzhong. Determinants of residential land price: Structure equation model analysis usingl and-leasing parcel data in Beijing. Acta Geographica Sinica, 2010, 65(6): 676-684.
25. Wang Songtao, Zheng Siqi, Feng Jie. Spatial accessibility of housing to public services and its impact on housing price: A case study of Beijing's inner city. Progress in Geography, 2007, 26(6): 78-87.
26. Cassetti E. Generating models by the expansion method: Applications to geographical research. Geographical Analysis, 1972, 4: 81-92.
27. Cassetti E, Jones J P. Spatial aspects of the productivity slowdown: An analysis of US manufacturing data. Annals of the Association of American Geographers, 1987, 77(1): 76-88.
28. Brunsdon C, Fotheringham A S, Charlton M. Some notes on parametric significance tests for geographical weighted regression. Journal of Regional Science, 1999, 39(3): 497-524.
29. LeSage J P. Spatial econometrics. Toledo: Department of Economics, University of Tolendo, 1999.
30. Bernard F. Estimates of time to economic convergence: An analysis of regions of the European Union. International Regional Science Review, 1999, 22: 5-35.
31. Gu Yizheng, Zheng Siqi. The impacts of rail transit on property values and land development intensity: The case of No.13 Line in Beijing. Acta Geographica Sinica, 2010, 65(2): 213-223.
32. Li Qiang, Li Xiaolin. Analysis on the residents' working-trip characteristics in the inner-suburb of Beijing. Urban Affairs, 2007, (7): 55-59.