Spatial pattern and structural determinants of Shanghai's housing price: A GWR-based approach

Since the beginning of 1998, China has begun its gradual and but incremental implementation of housing reform nationwide. Over the last decade, residential housing is leading the growth and expansion of China's real estate market. There is a need to understand how housing prices are spatially structured and differentiated in metropolitan areas in order to provide relevant information for policy makers who aim to regulate overheated urban housing prices in China. In this paper, we attempt to use a geographically weighted regression model. According to the study, we find that the geographically weighted regression model is far better than the traditional ordinary least square model revealing structural determinants of housing price.