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Articles

Quantile Decomposition Method and Empirical Analysis of Price Difference between Urban Housing Sub-market

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  • Department of Real Estate, College of Urban and Rural Construction, Hebei Agricultural University, Baoding 071000, China

Received date: 2015-05-18

  Revised date: 2015-12-07

  Online published: 2017-08-26

Abstract

On account of heterogeneity of houses, the variation in housing characteristics and prices by location is a fundamental feature of the urban housing market. In this paper, Baoding city is taken as a case, segments house market according to the azimuth, hedonic housing price model is established by quantile regression. Using the Q-JMP method, the housing price changes distribution has been decomposed into housing characteristic variables change and hedonic function, and then the causes of price changes, and the rules of changes in the prices of different spaces between each market are analyzed. The study finds that differences in housing prices is mainly caused by the disproportion housing characteristics, and decrease with the increase of the quantiles.

Cite this article

CHENG Ya-peng . Quantile Decomposition Method and Empirical Analysis of Price Difference between Urban Housing Sub-market[J]. Chinese Journal of Management Science, 2017 , 25(6) : 39 -49 . DOI: 10.16381/j.cnki.issn1003-207x.2017.06.005

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