And eliminate the influence of characteristic factors on real estate prices and the influence of time changes on housing and real estate prices. Many experts and scholars believe that Haas first applied the characteristic price theory in the calculation of farm land price in 1922, which established the origin of the characteristic price method. In 1928, Waugh[1] used the characteristic price method to study the vegetable price index. Until 1966, Lancaster[2] innovatively introduced the characteristic price method into the real estate field, and since then, the characteristic price method has been widely used in real estate price index and real estate value analysis. Follow-up scholars have gradually applied the characteristic price method to the calculation of influencing factors of real estate value and the evaluation of real estate value.
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