scholarly journals Use of Geographically Weighted Regression (GWR) Method to Estimate the Effects of Location Attributes on the Residential Property Values

2017 ◽  
Vol 49 (1) ◽  
pp. 97 ◽  
Author(s):  
Mohd Faris Dziauddin ◽  
Zulkefli Idris
Keyword(s):  
Geographically Weighted Regression ◽  
Geographical Area ◽  
Property Values ◽  
Weighted Regression ◽  
Residential Property ◽  
Spatial Effects ◽  
Kuala Lumpur ◽  
Global Parameter ◽  
Residential Property Values ◽  
The Government

This study estimates the effect of locational attributes on residential property values in Kuala Lumpur, Malaysia. Geographically weighted regression (GWR) enables the use of the local parameter rather than the global parameter to be estimated, with the results presented in map form. The results of this study reveal that residential property values are mainly determined by the property’s physical (structural) attributes, but proximity to locational attributes also contributes marginally. The use of GWR in this study is considered a better approach than other methods to examine the effect of locational attributes on residential property values. GWR has the capability to produce meaningful results in which different locational attributes have differential spatial effects across a geographical area on residential property values. This method has the ability to determine the factors on which premiums depend, and in turn it can assist the government in taxation matters.

The spatial varying relationship between services of the train network and residential property values in Melbourne, Australia

Urban Studies ◽  
2020 ◽  
pp. 004209801989697
Author(s):  
Qianyao Li ◽  
Junwu Wang ◽  
Judith Callanan ◽  
Binbin Lu ◽  
Zeng Guo
Keyword(s):  
Local Level ◽  
Property Values ◽  
Residential Property ◽  
Spatial Effects ◽  
Hedonic Price ◽  
Residential Properties ◽  
Train Services ◽  
Service Frequency ◽  
Residential Property Values ◽  
The Relationship

This study investigates the spatial effects of the service frequency and transport interchange facilities of rail stations on residential property values for the entire metropolitan train network in Melbourne. Residential properties are classified as either detached or attached dwellings. Given that a traditional hedonic price model cannot handle the spatial dependence and spatial non-stationarity of the housing market, several geographically weighted regression (GWR) models are used and multicollinearity is considered; the model with the Euclidean distance metric outperforms others. Results indicate that the service frequency and facilities of the stations influence the residential property values in a spatially variable way. For every 1 km closer to the train stations, an increase in the frequency of the train services per unit results in a change in the residential property values ranging from −4.01% to 2.71%; an improvement in the transport interchange facilities per unit results in a change in the residential property values ranging from −29.93% to 47.04%. Crime and retail activities that indirectly affect the relationship between rail stations and residential property values are also identified. For every 1 km closer to the train stations, the crime density increases significantly from 5.64% to 42.88% and this occurs in one-fifth of the areas in Melbourne. In contrast, the relationship between retail activities and train stations remains spatially stable. This study complements the relatively scarce literature on the link between railway service levels and residential property values while extending the case study to the local level.

scholarly journals The impact of urban light rail transit on double-story terraced property values in the Greater Kuala Lumpur, Malaysia

2021 ◽  
Vol 53 (1) ◽  
Author(s):  
Mohd Faris Dziauddin
Keyword(s):  
Property Values ◽  
Urban Rail Transit ◽  
Urban Region ◽  
Residential Property ◽  
Light Rail ◽  
Rail Transit ◽  
Light Rail Transit ◽  
Kuala Lumpur ◽  
Residential Property Values ◽  
The Impact

Introducing a rail transit system into an urban region is expected to increase land values, and subsequently, residential property values. Despite this general belief, there has been limited research on the impact of proximity to urban light rail transit stations in developing countries setting. This study, therefore, investigates the impact of proximity to urban light rail transit on double-story terraced property values in the Greater Kuala Lumpur, Malaysia, using hedonic pricing model. The findings suggest urban light rail transit has a positive and significant impact on surrounding double-story terraced residential property values – estimated at a premium of 12.3% and 9.8% for properties located up to 1000 m and 1001 – 2000 m to the nearest light rail transit station respectively. The findings of the study are useful for investors and developers, namely to build more houses near urban rail transit infrastructure since they lead to significant appreciation in value.

The NWIMBY Effect (No Walmart in My Backyard): Big Box Stores and Residential Property Values

2009 ◽  
Author(s):  
Daniel K. N. Johnson ◽  
Kristina M. Lybecker ◽  
Nicole Gurley ◽  
Alex Stiller-Shulman ◽  
Stephen Fischer
Keyword(s):  
Property Values ◽  
Residential Property ◽  
Big Box ◽  
Residential Property Values

The Impact of Landfills on Residential Property Values

1992 ◽  
Vol 7 (3) ◽  
pp. 297-314 ◽  
Author(s):  
Alan Reichert ◽  
Michael Small ◽  
Sunil Mohanty
Keyword(s):  
Property Values ◽  
Residential Property ◽  
Residential Property Values ◽  
The Impact
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