SCIENTIA GEOGRAPHICA SINICA ›› 2013, Vol. 33 ›› Issue (10): 1157-1165.doi: 10.13249/j.cnki.sgs.2013.010.1157

• Orginal Article •     Next Articles

Spatial Differentiation Patterns and Impact Factors of Housing Prices of China′s Cities

Yang WANG1(), De-li WANG2(), Shao-jian WANG3,4   

  1. 1. Guangzhou Institute of Geography, Guangzhou, Guangdong 510070, China
    2. Beijing Academy of Social Sciences, Beijing 100101, China
    3.Institution of Geographic Sciences and Natural Resources Research, Chinese Academy of Sciences, Beijing 100101, China
    4. University of Chinese Academy of Sciences, Beijing 100049, China
  • Received:2012-12-19 Revised:2013-06-20 Online:2013-10-20 Published:2013-10-20

Abstract:

In China′s high housing price times, housing price has become the core issue which was paid close attention by government and inhabitant. However, relatively little analysis is available on spatial differentiation patterns of housing prices in China′s cities according to taking more cities as analysis units in geographic field. And there is not unanimous conclusion in the main impact factors on spatial differentiation of housing price. In light of this, taking the housing prices and housing price-to-income ratio of 286 cities in China as basic data, we studied spatial differentiation patterns, global trends, spatial heterogeneities and correlations of housing prices and housing price-to-income ratio respectively. Furthermore, based on the law of supply-demand and urban hedonic price theory, we selected hypothetical 10 impact factors including 30 indicators on spatial differentiation for housing prices in China′s cities. Finally, the main impact factors were selected and analyzed according to regression analysis based on semilogarithmic model. The results show that: 1) There exist obviously spatial differentiation patterns for housing prices in China′s cities, and these differentiation patterns have features of the spatial agglomeration (between inland areas and three urban agglomerations of southeast coastal areas) and urban administrative level (between provincial capital and prefecture-level cities) simultaneously. 2) There are more number and larger scope with higher housing price-to-income ratio than that of housing prices. The number of cities of high housing affordability has been more than a half; 3) Both global differentiation trend and spatial heterogeneity of housing prices are stronger than that of housing price-to-income ratio; 4) Both the law of supply-demand and urban hedonic price theory can explain the phenomenon of spatial differentiation for housing prices in China′s cities. 5) The main impact factors on spatial differentiation of housing prices in China′s cities based on law of supply-demand are as follows: urban resident income and wealth level, urban housing price expectation and demand potential, urban residential construction cost. The main impact factors based on urban hedonic price theory are urban location and administrative level, urban natural environment, urban economic and producer environment, and urban infrastructure. Therein, urban resident income and wealth level and urban location and administrative level are two core impact factors on spatial differentiation for housing prices in China′s cities.

Key words: housing prices, housing price-to-income ratio, spatial differentiation, impact factors, semivariogram, semilogarithmic model, China

CLC Number: 

  • F293.3