Estimating the House Price Gradient with respect to True Commuting Time in Beijing

摘要：

In this paper, we study the relationship between housing price and local commuting time in Beijing. Two unique data sets are employed: a large-scale residence survey and the housing transaction database in Beijing Construction Committee. The result of our empirical work supports the prediction of a negative commuting time house price gradient. The value of travel time, derived from the negative price gradient, is about half of the wage rate, which agrees fairly well with the traditional wisdom in transportation economics literature. This also indicates that market force has already played a dominant role in allocating location resource in Beijings housing market.

关键词： Commuting time house price gradient

作者: Zheng Siqi Yang Zhenpeng

作者单位: Institute of Real Estate Studies, Tsinghua University, Beijing P.R.China, 100084

会议类型: 国际会议

会议名称: 第六届管理学国际会议(Proceedings of ICM2007 the 6th International on Management)

会议地点: 武汉

会议语种:英文

页码: 1610-1614

在线出版日期: 2007-08-03（万方平台首次上网日期，不代表论文的发表时间）