A Research on Urban Land Prices Based on Hedonic Price Model

The influencing factors of land prices can be divided into two types: the macroscopic factors and the microscopic factors. the macroscopic factors refer to factors that have universal and common influence on changes of urban land price. The microscopic factors refer to factors having remarkable and special influence on land prices only within a certain period and within certain scope. Research on the microscopic influencing factors of urban land price can adopt the hedonic price theory. This article discusses the theory and modeling of hedonic price model, and uses it for empirical analysis. The urban land hedonic price model may support the land policy-makers of local governments for a better land use, and can give an analysis method to the land users and the property developers.