Heterogeneity in housing attribute prices: A study of the interaction behaviour between property specifics, location coordinates and buyers’ characteristics
International Journal of Housing Markets and Analysis
ISSN: 1753-8270
Article publication date: 20 June 2008
Abstract
Purpose
The paper aims to analyse the Shenzhen housing market.
Design/methodology/approach
The paper uses an empirical case study using hedonic modelling that includes not only the property specifics, but also the spatial (via {X, Y} coordinates) and household (buyer's) characteristics. Two expansion models are employed to examine the spatial and socio‐economic heterogeneities in housing attribute prices.
Findings
The results provide strong evidence that the marginal prices of key housing attributes are not constant but vary with household profile and absolute‐location context within Shenzhen's housing market.
Research limitations/implications
Examining housing market behaviour in major Chinese cities should eventually be approached more explicitly with the development of China's official statistical system.
Originality/value
Largely supported by the valuable transaction data, this paper makes initial and valuable attempts to examine the interaction behaviour between property specifics, location coordinates and buyers’ characteristics within one of the very complex and immature housing markets, namely Shenzhen, China.
Keywords
Citation
Xu, T. (2008), "Heterogeneity in housing attribute prices: A study of the interaction behaviour between property specifics, location coordinates and buyers’ characteristics", International Journal of Housing Markets and Analysis, Vol. 1 No. 2, pp. 166-181. https://doi.org/10.1108/17538270810877781
Publisher
:Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited