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Research on the Influencing Factors of Housing Price

In: Proceedings of the 3rd International Conference on Economic Development and Business Culture (ICEDBC 2023)

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  • Yushan Chen

    (University of Manchester)

Abstract

The change of commodity prices affects people’s lives. House prices have increased over the last 10 years, and more people are prepared to participate in the real estate market. This paper focuses on the influencing factors of housing price. And Examine the elements that influence the cost of the house. The paper mainly uses correlation analysis and linear regression analysis. Finally, under the verification of the two methods, it is concluded that the price of the house is significantly related to the distance from the house to the nearest MRT station, the age of the house, the number of convenience stores around the house and the dimension of the house. In particular, The closest MRT station’s proximity to the apartment has the biggest impact on the price of the apartment. Therefore, when investors choose to invest in real estate, they can choose suitable houses for investment according to these influencing factors.

Suggested Citation

  • Yushan Chen, 2024. "Research on the Influencing Factors of Housing Price," Advances in Economics, Business and Management Research, in: Shehnaz Tehseen & Mohd Naseem Niaz Ahmad & Rafia Afroz (ed.), Proceedings of the 3rd International Conference on Economic Development and Business Culture (ICEDBC 2023), pages 221-226, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-246-0_27
    DOI: 10.2991/978-94-6463-246-0_27
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