A SPATIOTEMPORAL AUTOREGRESSIVE PRICE INDEX FOR THE PARIS OFFICE PROPERTY MARKET

2006 ◽  
Keyword(s):  
Price Index ◽  
Property Market

scholarly journals RENTAL PRICE CONVERGENCE IN A DEVELOPING ECONOMY: NEW EVIDENCE FROM NONLINEAR PANEL UNIT ROOT TEST

2010 ◽  
Vol 14 (3) ◽  
pp. 245-257 ◽  
Author(s):  
Mehmet Huseyin Bilgin ◽  
Chi Keung Marco Lau ◽  
Ender Demir ◽  
Nijolė Astrauskienė
Keyword(s):  
Unit Root ◽  
Price Index ◽  
Unit Root Test ◽  
Price Convergence ◽  
Developing Economy ◽  
Property Market ◽  
Panel Unit Root ◽  
Show Evidence ◽  
Price Divergence ◽  
New Evidence

We examine the hypothesis of nonlinear rental price convergence using relative rental price index of three major cities of Turkey namely, Istanbul, Izmir, and Ankara span from the period from January 1994 to February 2010. Our results indicate that all cities exhibit rental price convergence towards its national mean level for the period of January 1994 to December 2004. In contrast, none of the cities show evidence of convergence from January 2005 to February 2010. The evidence clearly shows rental price divergence in Turkish property market. Santruka Darbe tikrinama triju pagrindiniu Turkijos miestu — Stambulo, Izmiro ir Ankaros — netiesines rentos kainu konvergencijos hipoteze nuo 1994 m. sausio men. iki 2010 m. vasario men., taikant santykini rentos kainu indeksa. Tyrimu rezultatai rodo, kad nuo 1994 m. sausio men. iki 2004 m. gruodžio men. visuose miestuose rentos kainos artejo prie vidutinio nacionalinio lygio. Priešingai, tokios konvergencijos irodymu negauta ne vieno miesto atžvilgiu nuo 2005 m. sausio men. iki 2010 m. vasario men. Faktai aiškiai rodo Turkijos nekilnojamojo turto rinkos rentos kainu divergencija.

CONSTRUCTING HOUSING PRICE INDEX FOR TERRACED PROPERTIES IN JOHOR BAHRU, MALAYSIA

2021 ◽  
Vol 19 (17) ◽  
Author(s):  
Wendy Wen Xin Lim ◽  
Burhaida Burhan ◽  
Mohd Lizam Mohd Diah
Keyword(s):  
Price Index ◽  
Housing Prices ◽  
Housing Price ◽  
Hedonic Price ◽  
Property Market ◽  
Price Variation ◽  
Vector Property ◽  
Hedonic Price Analysis ◽  
Housing Price Index ◽  
Housing Attributes

Housing is a country’s biggest asset. Hence, the pattern of the housing price index (HPI) is an important topic to gain insight into the housing market while identifying the prevailing housing issues. The determinants of housing price vary for each city and state based on the different characteristics in each location. Accordingly, HPI should consider the property’s quality differences. Besides, national HPI is insufficient and restricted to the housing price at the state level. Thus, the study focused on constructing a specified HPI model for different cities, districts, and states. Effective HPI can give parties a better idea of the current property market situation and act as an analytical tool in managing the sector. Specifically, the study aims to examine the relationship between the heterogeneity housing attributes and housing prices of the terraced properties in Johor Bahru, Malaysia. Additionally, the study provides detailed information on the key determinants of the housing price variation in Johor Bahru. Hedonic price analysis is useful in constructing HPI, expressing housing price as a function of vector property characteristics. Furthermore, HPI is constructed based on the yearly indices and by pooling the data into certain periods. The results show the percentage of variance explained by the factors of HPI for the terraced properties in Johor Bahru. Correspondingly, the underlying correlation between the tested housing attributes with the housing price is explained through the analysis results.

scholarly journals Intrinsic bubbles and Granger causality in the Hong Kong residential property market

2019 ◽  
Vol 13 (1) ◽  
Author(s):  
Ting Lan
Keyword(s):  
Hong Kong ◽  
Granger Causality ◽  
Price Index ◽  
Residential Property ◽  
Property Market ◽  
Speculative Bubbles ◽  
Property Price ◽  
Show Evidence ◽  
Causality Tests ◽  
Housing Bubbles

Abstract This study uses the intrinsic bubbles detection method to identify housing bubbles in the Hong Kong residential property market. By using sample period data from 1993 to 2019, the empirical results show evidence of intrinsic bubbles. Based on the unit root and co-integration tests, I found that there are no rational speculative bubbles in the Hong Kong residential property market. Furthermore, by using the Granger causality tests of the corresponding asymmetric VECM specification, there is no causality from lagged changes in the rental price returns to changes in the property price returns. However, there is strong evidence to show that changes in the property price index returns can Granger cause changes in the rental price index returns.

Predicting property price index using artificial intelligence techniques

2019 ◽  
Vol 12 (6) ◽  
pp. 1072-1092 ◽  
Author(s):  
Rotimi Boluwatife Abidoye ◽  
Albert P.C. Chan ◽  
Funmilayo Adenike Abidoye ◽  
Olalekan Shamsideen Oshodi
Keyword(s):  
Artificial Intelligence ◽  
Real Estate ◽  
Price Index ◽  
Policy Formation ◽  
Support Vector ◽  
Ann Model ◽  
Property Market ◽  
Content Type ◽  
Property Prices ◽  
Property Price

Purpose Booms and bubbles are inevitable in the real estate industry. Loss of profits, bankruptcy and economic slowdown are indicators of the adverse effects of fluctuations in property prices. Models providing a reliable forecast of property prices are vital for mitigating the effects of these variations. Hence, this study aims to investigate the use of artificial intelligence (AI) for the prediction of property price index (PPI). Design/methodology/approach Information on the variables that influence property prices was collected from reliable sources in Hong Kong. The data were fitted to an autoregressive integrated moving average (ARIMA), artificial neural network (ANN) and support vector machine (SVM) models. Subsequently, the developed models were used to generate out-of-sample predictions of property prices. Findings Based on the prediction evaluation metrics, it was revealed that the ANN model outperformed the SVM and ARIMA models. It was also found that interest rate, unemployment rate and household size are the three most significant variables that could influence the prices of properties in the study area. Practical implications The findings of this study provide useful information to stakeholders for policy formation and strategies for real estate investments and sustained growth of the property market. Originality/value The application of the SVM model in the prediction of PPI in the study area is lacking. This study evaluates its performance in relation to ANN and ARIMA.

A Spatiotemporal Autoregressive Price Index for the Paris Office Property Market

2009 ◽  
Vol 37 (2) ◽  
pp. 305-340 ◽  
Author(s):  
Ingrid Nappi-Choulet Pr. ◽  
Tristan-Pierre Maury
Keyword(s):  
Price Index ◽  
Property Market

scholarly journals THE DEVELOPMENT OF PENANG SHOP PRICE INDEX (PSPI) USING LASPEYRES HEDONIC PRICE MODEL

2021 ◽  
Vol 19 (17) ◽  
Author(s):  
Mohamad Hafiz Jamaludin ◽  
Suriatini Ismail ◽  
Norziha Ismail
Keyword(s):  
Continuous Monitoring ◽  
Price Index ◽  
Hedonic Model ◽  
Hedonic Price ◽  
Price Model ◽  
Property Market ◽  
Pilot Studies ◽  
Commercial Property ◽  
Independent Variables ◽  
Property Price

The index is considered an important benchmark and is a decision-making tool in the financial and capital markets, as well as in the property market. In Malaysia, continuous monitoring of property price movements is important as almost half of banking exposure is on property. Further, NAPIC has published indicators displaying the performance of property such as MHPI and PBO-RI. However, indicators regarding the price of commercial property are still less widely published in Malaysia. This study was conducted to develop indicators related to the price of commercial property, especially to shop property. This study has focused on the state of Penang as a study area. The literature review methodology is used to identify existing methods and practices used in developing the index of commercial property both in Malaysia and internationally. In determining the appropriate form of hedonic functions for the development of PSPI, analysis of dependent and independent variables was performed. Meanwhile, the development of the index is based on the Laspeyres hedonic model which is the same as the development of MHPI and PBO-RI. The development of PSPI will be able to help the industry and investors to make decisions and benchmark the performance of shop. This is also one of the pilot studies in Malaysia to form an indicator of commercial property.

scholarly journals PEMBANGUNAN INDEKS HARGA HARTA TANAH WARISAN: KEDAI PRAPERANG (PW-SPI) PULAU PINANG, MALAYSIA

2021 ◽  
Vol 9 (1) ◽  
pp. 69-93
Author(s):  
MOHAMAD HAFIZ JAMALUDIN ◽  
SURIATINI ISMAIL ◽  
AINA EDAYU AHMAD
Keyword(s):  
Price Index ◽  
Rapid Development ◽  
Development Trend ◽  
Heritage Management ◽  
World Heritage Site ◽  
Hedonic Model ◽  
Property Market ◽  
Graphical Comparison ◽  
Property Price ◽  
George Town

Abstrak Pengiktirafan Bandar George Town sebagai Tapak Warisan Dunia (TWD) UNESCO telah membawa kepada usaha pemuliharaan harta-harta warisan seperti pelaksanaan Pelan Pengurusan Warisan dan pewartaan Akta Warisan Kebangsaan 2005. Antara elemen warisan yang perlu dipelihara berkaitan harta tanah ialah kedai pra-perang. Kedai pra-perang merupakan kedai yang telah dibina dan dibangunkan sebelum perang dunia pertama pada tahun 1914. Ciri-ciri warisan yang ada pada kedai pra-perang perlu dipelihara dari segi ciri fizikalnya. Walau bagaimanapun, dengan arus pembangunan yang semakin pesat, semua usaha ini perlu penglibatan para pelabur dalam sektor harta tanah. Justeru, objektif kajian ini adalah untuk membangunkan Indeks Harga Kedai Praperang Pulau Pinang (PW-SPI) bagi mewujudkan indikator yang dapat membantu para pelabur dalam membuat keputusan pelaburan dalam pasaran harta tanah praperang. Kajian ini melibatkan pembangunan PW-SPI menggunakan Model Hedonik Laspeyres. PW-SPI yang dibangunkan membolehkan perbandingan secara grafik dibuat ke atas pergerakan harga harta tanah warisan di Pulau Penang. Ia menunjukkan bahawa bagi tempoh 2008-2014, harta tanah kedai praperang di Pulau Pinang mempunyai pertumbuhan harga yang lebih baik berbanding kedai bukan praperang. Kajian pertama di Malaysia berkaitan indeks harga harta tanah warisan ini boleh diulang dengan melibatkan kawasan geografi yang lebih luas. Ini kerana ia terbukti dapat membantu para pelabur dalam membuat keputusan pelaburan berkaitan harta tanah kedai praperang melalui perbandingan.   AbstractThe recognition of George Town City as a World Heritage Site (TWD) UNESCO has led to the conservation efforts such as the implementation of the Heritage Management Plan and the publication of the National Heritage Act 2005. Among the elements of heritage that need to be preserved in relation to property are pre-war shops. Pre-war shops are shops that were built and developed before the first world war in 1914. The pre-war shops need to be preserved in terms of its physical features. However, with the rapid development trend, implementing this goal needs the involvement of investors in the real estate sector. Thus, the objective of this study is to develop the Penang Pre-war Shop Price Index (PW-SPI) in order to create an indicator that can help potential investors in making investment decisions related to the pre-war property market. PW-SPI was developed using the Laspeyres Hedonic Model. The developed PW-SPI has enabled a graphical comparison be made about heritage property price movement in Penang. It indicates that for the period 2008-2014 the pre-war shops in Penang had better price growth than the non pre-war shops. This earliest study of heritage property price index in Malaysia could be replicated to include data of other geographical areas. It is shown that it can help potential investors in making investment decision related to heritage property of shophouse through graphical comparison.

Sign in / Sign up

Export Citation Format

Share Document