scholarly journals Does Pet Policy in a Condominium Building Impact Property Values?

2021 ◽  
Author(s):  
Anita P. Muraleedharan
Keyword(s):  
Property Values ◽  
Impact Property ◽  
Hedonic Price Model ◽  
Price Difference ◽  
Hedonic Price ◽  
Price Model ◽  
Sales Data ◽  
Pet Owners ◽  
Real Price ◽  
Price Differences

Pets are permitted in some condominium buildings and not in others. Pet owners will therefore be attracted more towards buildings that welcome pets than otherwise. However, the pet-related regulations may altogether restrict all sorts of pets, including small pets, such as cats, while others may include restrictions on the number of pets allowed per unit, certain breeds or set restrictions on the permissible size of a pet. These restrictions may impact the price of condominiums. Using a hedonic price model, this research paper analyses whether and by how much allowance for pets in the building impacts property values in downtown Toronto using condominium sales data from January 2016 to December 2017 and information derived from a pet policy questionnaire. The findings suggest that the price differences are not statistically significant between buildings that allow pets or otherwise. In fact, the real price difference is observed for the degree of pet friendliness. Condominium buildings that allow two or more pets sell for higher prices than those that allow less than two pets. Furthermore, condominium buildings that allow two or more dogs sell for a higher price. Also, condominium buildings that impose weight, size or breed restrictions cost 5.7 percent more than those do not have those restrictions. Keywords: hedonic price model, pet policy, condominiums, GIS, Toronto

scholarly journals Does Pet Policy in a Condominium Building Impact Property Values?

2021 ◽  
Author(s):  
Anita P. Muraleedharan
Keyword(s):  
Property Values ◽  
Impact Property ◽  
Hedonic Price Model ◽  
Price Difference ◽  
Hedonic Price ◽  
Price Model ◽  
Sales Data ◽  
Pet Owners ◽  
Real Price ◽  
Price Differences

Pets are permitted in some condominium buildings and not in others. Pet owners will therefore be attracted more towards buildings that welcome pets than otherwise. However, the pet-related regulations may altogether restrict all sorts of pets, including small pets, such as cats, while others may include restrictions on the number of pets allowed per unit, certain breeds or set restrictions on the permissible size of a pet. These restrictions may impact the price of condominiums. Using a hedonic price model, this research paper analyses whether and by how much allowance for pets in the building impacts property values in downtown Toronto using condominium sales data from January 2016 to December 2017 and information derived from a pet policy questionnaire. The findings suggest that the price differences are not statistically significant between buildings that allow pets or otherwise. In fact, the real price difference is observed for the degree of pet friendliness. Condominium buildings that allow two or more pets sell for higher prices than those that allow less than two pets. Furthermore, condominium buildings that allow two or more dogs sell for a higher price. Also, condominium buildings that impose weight, size or breed restrictions cost 5.7 percent more than those do not have those restrictions. Keywords: hedonic price model, pet policy, condominiums, GIS, Toronto

scholarly journals The Influence of Floor Type of Multi-Family Residential on the Transaction Price and the Estimation of Utility Ratio among Floors

2020 ◽  
pp. 65-77
Author(s):  
Ho-Wen Yang ◽  
Hsien-Chi Hsieh
Keyword(s):  
Residential Buildings ◽  
Hedonic Price Model ◽  
Parking Space ◽  
Price Difference ◽  
Hedonic Price ◽  
Price Model ◽  
Floor Price ◽  
Zigzag Pattern ◽  
The Difference ◽  
Transaction Price

In Taiwan’s multi-family residential, there are some problems in the previous research on the utility ratio among floors, including the failure to consider the difference in total number of floors, the excessive research scope and the residential price without deducting the parking space price. This research hopes to improve the problems of previous research, select 1,172 data of multi-family residential with total number of floors of 12, 15 and 22, and use the hedonic price model to establish the utility ratio among floors of residential buildings, and then compare the difference between absolute floors and relative floors on the transaction price. The empirical results found that in the comparative analysis of absolute floors and relative floors, the variable of relative floors is significant, showing that the residential price is significantly different with different total number of floors, and the total number of floors is higher that the residential price is higher; the importance of absolute floors on the residential price isn’t high. In the model of utility ratio among floors of different total number of floors, the utility curves are distributed in zigzag pattern. Taking floor 4 as the base floor, the floor price difference is higher on floor 1 and near the top floors, and the floor price difference of other floors is not significant.

scholarly journals Lake Drawdown Revisited: The Value Of Two Inches Of Water

2016 ◽  
Vol 14 (1) ◽  
pp. 7-18
Author(s):  
Russell Kashian ◽  
Alexander Walker ◽  
Matthew Winden
Keyword(s):  
Water Level ◽  
Property Values ◽  
Water Levels ◽  
The Body ◽  
Hedonic Price Model ◽  
Hedonic Price ◽  
Price Model ◽  
The Impact ◽  
New Evidence ◽  
Objective Indicators

This paper uses a hedonic price model to estimate the impact of water level on the value of real estate on Lake Koshkonong in Wisconsin. Hedonic techniques are employed to show that a reduction in the lake’s water level has a significant effect on shoreline property values. The body of existing research demonstrates that changes in both the subjective and objective indicators of value are important for estimating the implicit value of water quality in hedonic analysis. This paper provides new evidence on the economic harm to lake communities created by the reduction of water levels.

scholarly journals Lake Drawdown: The Value Of 2 Inches Of Water

2011 ◽  
Vol 6 (1) ◽  
Author(s):  
Russell Kashian
Keyword(s):  
Water Quality ◽  
Water Level ◽  
Property Values ◽  
Water Levels ◽  
The Body ◽  
Hedonic Price Model ◽  
Hedonic Price ◽  
Price Model ◽  
New Evidence ◽  
Objective Indicators

This study uses the hedonic price model to estimate the effect a change in water level has on the value of real estate on Lake Koshkonong in Wisconsin.  Hedonic techniques are employed to show that a 2 inch reduction in the lake’s water level had a significant effect on Lake Koshkonong’s shoreline property values.  The body of existing research demonstrates that changes in both the subjective and objective indicators of value are important for estimating the implicit value of water quality in hedonic analyses.    This paper provides new evidence on the economic harm created by the reduction of water levels and the concurrent publicity created by the action.

Hedonic Price Model

2014 ◽  
pp. 2834-2837
Author(s):  
José-María Montero ◽  
Gema Fernández-Avilés
Keyword(s):  
Hedonic Price Model ◽  
Hedonic Price ◽  
Price Model

A hedonic price model of office rents

1998 ◽  
Vol 16 (3) ◽  
pp. 297-312 ◽  
Author(s):  
Neil Dunse ◽  
Colin Jones
Keyword(s):  
Hedonic Price Model ◽  
Hedonic Price ◽  
Price Model
Sign in / Sign up

Export Citation Format

Share Document