Spatially varying housing prices in Hangzhou revolutionize real estate market.
The study looked at housing prices in Hangzhou, China, and found that the prices of certain housing characteristics can vary across different areas. By using advanced models, the researchers were able to show that some housing features have different impacts on prices depending on where they are located. This means that not all housing characteristics affect prices in the same way everywhere. The new models used in the study were able to better capture these variations in housing prices across different locations.