Emerging Polycentricity in Beijing: Evidence from Housing Price Variations, 2001–05

Abstract

This paper examines the emerging multiple centre urban spatial structure in Beijing using housing price variation as an indicator. A random sample of 3783 apartment units was used. These apartments were recent sales in 2001, 2003 and 2005. The dataset included transaction prices and main housing attributes gathered from the Beijing Construction Committee. A hedonic price model was calibrated to investigate the importance of the different urban centres to housing price variations. The results show that multiple urban centres (such as Tian’anmen, CBD, Zhongguancun and the Olympic Centre) explain more of the variations in housing price differences in the metropolitan space than any centre does alone. The findings also reveal changes in impacts from the individual centres in the study period. These outcomes confirm that Beijing is moving towards a polycentric urban form. The emerging multiple urban centres are key factors in understanding the spatial restructuring of Beijing, especially in modelling its emerging housing market.