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Inpacts of the Daming Palace National Heritage Park Construction on the Price of Surrounding Residential

Author: WangJieLin
Tutor: LanFeng
School: Xi'an University of Architecture and Technology
Course: Technology Economics and Management
Keywords: Daming Palace National Heritage Park house price ecological environment Hedonic Model principal component analysis
CLC: F224;TU986
Type: Master's thesis
Year: 2011
Downloads: 168
Quote: 1
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Abstract


With urbanization accelerating and people awareness of environment inproving ,the quality of life and ecological environment are pursued more tensly. People no longer just consider residential house the practicability and comfort, and environmental quality and landscape situation have been getting more and more attention to. Large numbers of green space and natual scenes in city parks not only provide a comfortable and entertaining environment, but also play an important role of purifying air, adjusting the climate and beautifying the city. In 2009, our urban per capita green area covers 9.71 square, and green coverage reaches 37.37%. Urban greening starts opening new strides. At present, park on the improvement of urban living environment are increasingly significant and the willing to pay for improvemental amenity has increased day by day.This article uses Hedonic Method to study inpacts of the Daming Palace National Heritage Park construction on the price of surrounding residential. The results indicate:(1) Daming Palace National Heritage Park on the surrounding residential price has a significant positive effect;(2) Daming Palace National Heritage Park affects approximately 2000m;(3) Marginally decrease of 100m in the distance from a house to Daming Palace National Heritage Park leads to 3.9% price increase. Meanwhile, this article compares different function forms of Hedonic Model, found that simulation results of based on principal component analysis Hedonic Model is better than that of linear function, and improves the linear relationship between the independent variables of linear function.Including by empirical research in this article, using Hedonic Model quantitatively assesses the factor of the Daming Palace National Heritage Park Construction which influences housing price and provides a new approach for real estate development and pricing ,provides theory and method foundation for subjective evaluations of both trade.

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