Empirical analysis on the housing price in Harbin City based on hedonic model

This paper selects 9 housing characteristics as the independent variables for the market supply-demand equilibrium model to construct a housing hedonic model in a multiple linear functional form, and tests the model using sample data collected from more than 400 multi-storey housing buildings in Harbin City. Conclusion shows that the model can be used to analyze and explain the influence of housing characteristics on housing prices. It is found that the 9 housing characteristics have differing impacts on housing prices. Moreover, the paper also classifies and sorts different levels of influence of housing characteristics on the basis of hedonic prices.