Research Article
The Impact of Marketing Labels on Housing Prices: An Empirical Study on Hangzhou City
@INPROCEEDINGS{10.4108/eai.2-12-2022.2328673, author={Yue He and Haizhen Wen and Hai Zhang and Zhongqing Du and Jiarong Chen}, title={The Impact of Marketing Labels on Housing Prices: An Empirical Study on Hangzhou City}, proceedings={Proceedings of the 3rd International Conference on Big Data Economy and Information Management, BDEIM 2022, December 2-3, 2022, Zhengzhou, China}, publisher={EAI}, proceedings_a={BDEIM}, year={2023}, month={6}, keywords={housing price marketing label hedonic model hangzhou}, doi={10.4108/eai.2-12-2022.2328673} }- Yue He
Haizhen Wen
Hai Zhang
Zhongqing Du
Jiarong Chen
Year: 2023
The Impact of Marketing Labels on Housing Prices: An Empirical Study on Hangzhou City
BDEIM
EAI
DOI: 10.4108/eai.2-12-2022.2328673
Abstract
As urbanization continues to advance, real estate development is gradually shifting from an incremental market to a stock market, and consumers' requirements for the "comfort" and "functionality" of residential properties have increased significantly. In the face of increasingly fierce market competition, developers are paying more and more attention to real estate marketing issues, and marketing labels such as green, ed-ucation, metro and garden have emerged. Taking Hangzhou as an example, this paper investigates the relationship between marketing labels and housing prices based on the marketing messages conveyed by real estate developers. The empirical results show that different marketing labels have different effects on housing price: the "official green marketing label-CGBL", "unofficial green marketing label", "rail transit market-ing label" and "garden marketing label" all have a positive impact on the price of resi-dential properties, with value-added rates of 13.6%, 5.2%, 1.6% and 1.4%; respec-tively. Compared with the marketing labels used by developers in advertising, the of-ficially certified label information has a stronger impact on housing prices.
