PROGRESS IN GEOGRAPHY ›› 2018, Vol. 37 ›› Issue (10): 1371-1380.doi: 10.18306/dlkxjz.2018.10.007

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Quantitative evaluation of the impacts of driving factors on urban residential land price and analysis of their spatio-temporal heterogeneity: A case study of Wuhan City

Shijin QU1,2(), Shougeng HU1,2,*(), Quanfeng LI3, Shengfu YANG1,2   

  1. 1. School of Public Administration, China University of Geosciences, Wuhan 430074, China
    2. Key Laboratory of Legal Assessment Project, Ministry of Land and Resources, Wuhan 430074, China
    3. College of Resources and Environment, Northeast Agricultural University, Harbin 150030, China
  • Received:2018-01-06 Revised:2018-07-26 Online:2018-10-28 Published:2018-10-28
  • Contact: Shougeng HU E-mail:qusj903@126.com;husg2009@gmail.com

Abstract:

Measuring the spatiotemporal differences of the impacts of main driving factors on residential land price quantitatively is a basic work to understanding the dynamic patterns and formation mechanism of land price, which is also helpful for the optimal allocation of urban land. The hedonic model improved by feasible generalized least squares (FGLS) was employed in this study. The results show that: the impacts of key factors on Wuhan City's residential land price between 2007-2015, ranked from high to low, were floor area ratio, hospitals, central business district (CBD), sub-CBDs, the metro, and parks. In the time series, the impact of CBD showed an upward trend; the impact of sub-CBDs showed a downward trend; the influence of hospitals increased exponentially and the impact of metro stations increased logarithmically; and the effect of parks decreased continuously. The impact of floor area ratio first decreased then increased. Among the different regions, within the second ring road parks and floor area ratio have greater regression coefficients, but factors including metro stations and hospitals had more obvious influences on residential land price in the areas outside the second ring road. The impacts of CBD and sub-CBDs on residential land price were obvious complementary in space. Based on the results of this study, current urban land management should pay attention to the protection and allocation of natural landscape and the determination of residential land parcel's floor area ratio.

Key words: residential land, influencing factors, spatiotemporal differentiation, hedonic model, Wuhan City