Analysis of spatial variance clustering in the hedonic modeling of housing prices

2019 ◽  
Vol 36 (1) ◽  
pp. 1-26
Author(s):  
Sören Gröbel
Author(s):  
Vania Ceccato ◽  
Mats Wilhelmsson

This chapter examines the impact of crime and accessibility on housing prices. In particular, it assesses the effect of residential burglary on apartment prices in Stockholm, building on previous research that indicated residential burglary—not violence or vandalism—had the greatest effect on apartment prices in the Swedish capital. A review of the literature on hedonic modeling covering more than three decades shows that, despite different modeling strategies, these studies consistently find evidence that crime affects housing prices. Two measures of accessibility are used: a “global” distance decay from Stockholm city center and a “local” measure of accessibility to work expressed as travel costs. Results for all of Stockholm County confirm previous findings once limited to Stockholm municipality only, that residential burglary reduces apartment prices. However, such an effect varies across space and levels of accessibility.


2019 ◽  
Vol 16 (1) ◽  
pp. 70-81
Author(s):  
Azrul Azlan Iskandar Mirza ◽  
Asmaddy Haris ◽  
Ainulashikin Marzuki ◽  
Ummi Salwa Ahmad Bustamam ◽  
Hamdi Hakiem Mudasir ◽  
...  

The soaring housing prices in Malaysia is not a recent issue. It is a global phenomenon especially in developing and developed countries, driven by factors including land price, location, construction materials cost, demand, and speculation. This issue demands immediate attention as it affects the younger generation, most of whom could not afford to buy their own house. The government has taken many initiatives and introduced regulations to ensure that housing prices are within the affordable range. This article aims to introduce a housing price control element from the Shariah perspective, as an alternative solution for all parties involved in this issue. It adopts content analysis methodology on policy from Shariah approved sources.


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