This paper focused on the relationship between the orientation of an apartment and its property value. Firstly, we used Hedonic model to decompose the characteristic prices of an apartment, and adopted FGLS to estimate the regression parameters to avoid the adverse consequences caused by heteroscedasticity phenomenon. The empirical result shows that the orientation is not the key factor in the demander's purchase process. Secondly, in the same community, we selected samples facing south and non-south as a test group and a control group. Through paired regression analysis, we find that in Chongqing's second-hand housing market, compared to the apartment having no south-facing orientation, those with it on average are valued only 1.42% .It is suggested that the evaluation practice should pay more attention to the orientation characteristics and measure orientation value according to local conditions.

The paper explores life value assessment methods in China from both the historical and modern perspectives. The historical perspective includes the death penalty ransom approach and government pricing approach, while the modern perspective contains the human capital method and willingness-to-pay method. The human capital method measures the economic value created by people and uses it as their life assessment value, and the willingness-to-pay method evaluates peoples’ life value indirectly through the trade-off between the death risk and benefit. The paper then puts forward improvement ideas for the two modern life value assessment models and proposes possible future research directions, meanwhile providing a reference for such practical issues as compensation policymaking for industrial injuries or deaths for the sustainable development of emerging countries.