Resource-residential dual drivers: an empirical study on regional heterogeneity in Beijing's secondary housing prices

This research explored the factors that determine housing prices and their regional differences in Beijing's second-hand housing market using complete transaction data from 2024 covering all 16 administrative areas, adopted the Hedonic Price Model and carried out separate Ordinary Least Squares (OLS) regressions for different sub-markets, the results showed a clear two-part difference in how prices were formed which was described as being "resource-driven" compared to "residence-driven", in central urban areas, housing prices were mainly influenced by proximity to top-quality public resources and there was a large price increase for apartments having three or more bedrooms, on the other hand, in suburban zones, market evaluations concentrated more on fundamental living features showing a definite preference for south-facing directions and medium to large sized units, moreover, the additional impacts of important structural elements varied significantly among these regions, the discoveries offered strong empirical proof to back location-specific regulatory measures for the existing housing supply in mega-cities such as Beijing and also provided useful information for market players including house buyers, builders and policymakers enabling them to make better-informed decisions in line with the main value influences in each market section.