HEDONIC PRICE ANALYSIS OF URBAN HOUSING: THE EXPERIENTIAL RESEARCH ON THE HANGZHOU CITY

Owing to the heterogeneity of housing product,foreign scholars widely apply hedonic price model to study urban housing market.Literatures indicate the hedonic price theory mainly includes two content: Lancaster's partiality theory and Rosen 's characteristic market equilibrium analysis.18 housing characteristics were chose as independent variables by the interviewing,and a housing hedonic price model for the Hangzhou city was set up with the linear function form.With the 2 473 housing samples and the field survey data of 290 housing communities,the model was estimated.14 housing characteristics are found having significant influence on housing price,and the impact degree is different among housing characteristics.At the same,the impact degree is sorted according the hedonic price and divided into 4 grades.