Abstract
With the rapid development of the real estate market, housing prices at different price levels are significantly different from each other. Therefore, this paper selects the second-hand housing transaction data from 2007 to 2015 in Hangzhou, uses the hedonic price model, and introduces the quantile regression to compile the first quantile house price index in Hangzhou. Then we compare it with Ordinary Least Squares estimation to verify its feasibility and necessity. The empirical results show that the variation trend of the price index at different quantiles is the same, but the fluctuation range is significantly different. The rate of increase in housing prices from the high to low prices decline. This study can help the agencies compiling price index to expand their thinking, and provide a more scientific basis for government policy making, real estate agencies and buyers' decision-making.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
