Exploring the Factors Impacting on the Residential Land Price and Measuring Their Marginal Effects Based on Geographically Weighted Regression Model:A Case Study of Nanjing

The purpose of this paper is to explore the factors and their marginal effects that impact on the residential land prices in the Nanjing urban areas,which can be used as references for scientifically governing the urban land.Geographically Weighted Regression(GWR)model was employed in the study.The findings include that,(1)the marginal effects of the locations of metro stations,commercial network,water body,green space and public gardens that impact on the average residential land price are significant,while on the contrary those of the location of high schools,and hospitals do not show the same;(2)FAR is the most influential factor that leads the increase of marginal price of residential land among others,and the marginal effects of other factors are also different according to different plots.The paper is concluded with that GWR-based model can improve the traditional space regression methods and can be used to effectively estimate the spatial trends of marginal effects of the factors that impact on urban residential land price.The change of urban residential land prices are sensitive with the availabilities of rapid transportation system,the commerce and service facilities,and natural landscape due to the urban residents prefer these factors.Although the spatial trend of marginal effect of FAR on the incremental land price is weak from the viewpoint of the whole study area,it is always the most influential factors on individual plot.Due to its advantages in visualizing,GIS can be an effective tool in readjusting and controlling the main factors in urban planning,and improve the performance of governing the urban land.