Analyzing Multiscale Spatial Relationships between the House Price and Visual Environment Factors

Abstract

House price is closely associated with the development of the national economy and people’s daily life. Understanding the spatial distribution characteristics and influencing factors of the house price is of great practical significance. Although a lot of attention has been paid to modeling the house price from structure and location attributes, limited work has considered the impact of visual attributes. Intuitively, a better visual environment may raise the surrounding house price. When aggregating multiple factors that influence house price, the multiscale geographically weighted regression (MGWR) provides a suitable solution. Specifically, the MGWR assigns each factor a bandwidth to model the spatial heterogeneity, e.g., a factor may have different influences at different places. In this paper, we introduce the visual environment factors into the MGWR method. In detail, we extract ten visual elements, e.g., sky, vegetation, road, from the Baidu street view (BSV) images, using a deep learning framework. We further define six visual environment factors to investigate their influence on house price. Based on the data from two representative Chinese cities, i.e., Beijing and Chongqing, we reveal the influence degree and spatial scale difference of six visual indexes on the house price in two cities. Results show that: (1) the influence intensity of our proposed six visual environment factors on the house price in different regions of the city can be identified, and the green view index (GVI) is the most important visual environmental factor; and (2) the influence of these view indexes changes significantly or even reversely depends on different areas.

Keywords

• house price
• Baidu street view (BSV)
• multiscale geographically weighted regression (MGWR)
• spatial heterogeneity