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[ScienceDirect, via Biblio-SHS] Auteurs : Wen-Chi Liao, Xizhu Wang Paru dans : Journal of Housing Economics, Volume 21, Issue 1, March 2012, Pages 16-27 Abstract Despite its long history, hedonic pricing for housing valuation remains an active research area, and applications of new estimation methods continually push research frontiers. However, housing studies regarding Chinese cities are limited because of the short history of China's free housing market. Such studies may, nonetheless, provide new insights given the nation's current transitional stage of economic development. Therefore, this research makes use of publicly accessible sources to construct a new micro-dataset for an emerging Chinese city, Changsha, and it incorporates quantile regression with spatial econometric modeling to examine how implicit prices of housing characteristics may vary across the conditional distribution of house prices. Substantial variations are found, and the intuitions and implications are discussed. Additionally, the spatial dependence exhibits a U-shape pattern. The dependence is strong in the upper and lower parts of the response distribution, but it is little in the medium range. Highlights ► We incorporate quantile regression into spatial econometric modeling. ► We collect housing transactions' microdata, which are rare in China. ► Spatial dependence of house prices is U-shaped across the response distribution. ► Housing attributes' implicit prices vary greatly across the response distribution.

[Sur ScienceDirect via Biblio-SHS] Auteurs : Yan Songa, Yves Zenou Publié dans : Regional Science and Urban Economics, Volume 42, Issue 3, May 2012, Pages 495-505 Abstract The presence of urban villages is a unique product of China's urbanization. In this article, we explore the effects of urban villages on the formal housing market. For this purpose, we develop a hedonic housing price model to investigate whether the proximity to urban villages affects the selling price of urban housing units. Controlling for the structure and other characteristics of urban housing units, we find that housing prices are lower the closer the buildings are from urban villages. We then carry out a survey of households living nearby and explore how they are affected by urban villages. The results indicate that there are both positive and negative effects associated with these villages. Highlights ► In this article, we explore the effects of urban villages on the formal housing market in China. ► Propose a theoretical urban model of urban villages. ► We test the model and find that housing prices are lower the closer the buildings are from urban villages. ► Households declare that they are both positive and negative effects associated with these villages.