A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Constructing segmented rental housing indices : evidence from Beijing, China
Purpose – This paper aims to construct rental housing indices and identify market segmentation for moreeffective property-management strategies. Design/methodology/approach – The hedonic model was employed to construct the rental indices. Usingthe k-meansþþ and REDCAP (Regionalisation with Dynamically Constrained Agglomerative Clustering andPartitioning) approaches, the authors conducted clustering analysis and identified different marketsegmentation. The empirical study relied on the database of 80,212 actual rental transactions in Beijing,China, spanning 2016–2018. Findings – Rental housing market segmentation may distribute across administrative boundaries. Properlysegmented indices could provide a better account for the heterogeneity and spatial continuity of rental housingand as well be crucial for effective property management. Research limitations/implications – Residential rent might not only vary over space but also interplayswith housing price. It would be worth studying how the rental market functions together with the owneroccupied sector in the future. Practical implications – Residential rental indices are of great importance for policymakers to be able toevaluate housing policies and for property managers to implement competitive strategies in the rental market. Their constructions largely depend on the analysis of market segmentation, a trade-off between housing spatialheterogeneity and continuity. Originality/value – This paper fills the gap in knowledge concerning segmented rental indices construction,particularly in China. The spatial constrained clustering approach (REDCAP) was also initially introduced toidentify regionalised market segmentation due to its superior performance. ; QC 20220523
Constructing segmented rental housing indices : evidence from Beijing, China
Purpose – This paper aims to construct rental housing indices and identify market segmentation for moreeffective property-management strategies. Design/methodology/approach – The hedonic model was employed to construct the rental indices. Usingthe k-meansþþ and REDCAP (Regionalisation with Dynamically Constrained Agglomerative Clustering andPartitioning) approaches, the authors conducted clustering analysis and identified different marketsegmentation. The empirical study relied on the database of 80,212 actual rental transactions in Beijing,China, spanning 2016–2018. Findings – Rental housing market segmentation may distribute across administrative boundaries. Properlysegmented indices could provide a better account for the heterogeneity and spatial continuity of rental housingand as well be crucial for effective property management. Research limitations/implications – Residential rent might not only vary over space but also interplayswith housing price. It would be worth studying how the rental market functions together with the owneroccupied sector in the future. Practical implications – Residential rental indices are of great importance for policymakers to be able toevaluate housing policies and for property managers to implement competitive strategies in the rental market. Their constructions largely depend on the analysis of market segmentation, a trade-off between housing spatialheterogeneity and continuity. Originality/value – This paper fills the gap in knowledge concerning segmented rental indices construction,particularly in China. The spatial constrained clustering approach (REDCAP) was also initially introduced toidentify regionalised market segmentation due to its superior performance. ; QC 20220523
Constructing segmented rental housing indices : evidence from Beijing, China
Song, Zisheng (author) / Wilhelmsson, Mats (author) / Yang, Zan (author)
2022-01-01
ISI:000767345800001
Article (Journal)
Electronic Resource
English
| Engineering Index Backfile | 1947
| Engineering Index Backfile | 1947