Empirical Analysis of Average Area per Room and House Price based on Two-way Fixed Effects Model - Evidence from China

Author:

Rong Runsheng1ORCID,Liu Yushan1,Li Zhenhao1,Li Shanshan1,Li Jiahui1

Affiliation:

1. Xi'an Jiaotong-Liverpool University

Abstract

Abstract With the continuous warming and cyclical fluctuations of the real estate price in China, the housing price is out of balance. The method about how to make rational investment decisions has become a hot issue. Our paper aims to help people to scan properties for sale and filter out properties with the greatest potential for future appreciation, so as to greatly improve the accuracy of investment decisions. This paper uses the data provided by IEEE CyberC. Based on the daily data of China’s real estate prices and related influencing factors from 2012 to 2018, a mathematical model with as the base is established for housing prices and related factors through empirical research. The Ordinary Least Squares Model with double fixed effects is used for regression model. The modeling passes the endogeneity test using instrumental variables, the heteroskedasticity test is used to verify and adjust the heteroskedasticity of the model, and the MAD test is carried out on the fit degree of the model. This paper draws the following c

Publisher

Research Square Platform LLC

Reference9 articles.

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3. ‘Hedonic prices and implicit markets: Product differentiation in pure competition’;Rosen S;Journal of political economy,1974

4. ‘Analysis of the correlation between housing price rise and natural environment differential factors in typical cities of China’;Yang J;East China Economic Management,2007

5. He, S. (2006) Empirical Study on Several Factors Affecting China's Real Estate Price. Central China Normal University.

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