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An Empirical Study on Influencing Factors of Residential Location Choice in Hangzhou, China

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Abstract:

With the rapid growth of Chinas real estate industry, the consumer behavior in housing market has become one of the issues with greatest concern to developers and the local government. Because of the problem of data, researches on housing choice behavior from the micro level are limited. In this paper, the author built the Logit model about housing choice of urban resident in Hangzhou, selected three main categories of family characteristics, house characteristics and psychological factors, and with division of the housing location in two ways: concentric urban districts and administrative division. The results show that residential location choice decision is largely affected by most of family characteristics, house characteristics and psychological factors. The administrative division of location has more practical significance than concentric urban districts division. The studys conclusion can provide advices for the government, enterprises, as well as residents making decisions.

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Info:

Periodical:

Applied Mechanics and Materials (Volumes 357-360)

Pages:

1747-1751

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.357-360.1747

Citation:

Cite this paper

Online since:

August 2013

Authors:

Xiao Bo Xie, Xiao Qing Bu, Mao Jian Zheng, Hai Zhen Wen

Keywords:

Discrete Choice Model, Housing Market, Location Choice

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