Second-Hand Housing Market Analysis and Optimized Pricing Strategy - Taking Changsha as an Example

DOI

10.2991/978-2-38476-551-5_57How to use a DOI?

Keywords

Pre-Owned Housing Market; Hedonic Pricing Model; Regression; Intelligent Pricing

Abstract

Under the policy of “housing for living, not for speculation” and tailored city-specific policies, pre-owned homes have gradually become the mainstay of urban housing supply. Accurately assessing housing prices is crucial for stabilizing expectations and mitigating risks. Therefore, this study captured 1,500 listings from Shell Changsha, integrating three dimensions of property, neighborhood, and block into a unified framework. Descriptive statistics, correlation, variance, and multivariate linear, ridge, lasso, and random forest regression were employed to overcome the limited explanatory power of traditional hedonic pricing models. The results showed that area, type of house, renovation, year, and block had a decreasing impact on unit price. Furthermore, the relationship between floor level and housing price was nonlinear, with mid- and low-floor units commanding a premium in aging communities. Properties with north-south exposure had a 9.4% higher total price than those with pure north-facing properties. Multivariate linear and ridge regression yielded the best predictions (MSE = 0.115, R² = 0.628), while random forests were more adept at capturing nonlinear interactions, making them suitable for personalized recommendations.

Copyright

© 2026 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

TY  - CONF
AU  - Lian Qi
PY  - 2026
DA  - 2026/03/26
TI  - Second-Hand Housing Market Analysis and Optimized Pricing Strategy - Taking Changsha as an Example
BT  - Proceeding of 2025 8th International Conference on Humanities Education and Social Sciences (ICHESS 2025)
PB  - Atlantis Press
SP  - 517
EP  - 531
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-551-5_57
DO  - 10.2991/978-2-38476-551-5_57
ID  - Qi2026
ER  -