Work

Multiple factor flows and heterogeneous premium of urban house prices: Empirical evidence from Chinese cities

Year: 2024

Type: article

Abstract: Notable Regional heterogeneity is commonly observed in housing markets. This study examines how multiple factor flows affect urban house prices and the resulting premium. It utilizes over 100 million pieces of Chinese intercity factor flow data to construct a multi-layer network and introduces a new metric called multiple connectivity quality to measure a city's comprehensive factor connection capability. Empirical analysis reveals that cities with higher multiple connectivity quality tend to exhibit higher price premiums, making them more resilient to market fluctuations. This study offers fresh insight into regional heterogeneity within housing markets and holds practical significance for stabilizing these markets.

Source: Finance research letters

DOI: 10.1016/j.frl.2024.106287

Authors: Xirong Huang, Chen Geng, Xiuting Li, Jichang Dong

Institutions: University of Chinese Academy of Sciences, Beijing Institute of Big Data Research

Language: English

Topic: Housing Market and Economics

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Sustainable cities and communities

Open Access status: hybrid

Estimated APC paid: $3,350