scholarly journals Multiscale Effects of Multimodal Public Facilities Accessibility on Housing Prices Based on MGWR: A Case Study of Wuhan, China

2022 ◽  
Vol 11 (1) ◽  
pp. 57
Author(s):  
Lingbo Liu ◽  
Hanchen Yu ◽  
Jie Zhao ◽  
Hao Wu ◽  
Zhenghong Peng ◽  
...  
Keyword(s):  
Public Service ◽  
House Prices ◽  
Housing Prices ◽  
Positive Influence ◽  
Policy Formulation ◽  
Public Facility ◽  
Factors Affecting ◽  
Public Facilities ◽  
Geographically Weighted Regression Model ◽  
The Impact

The layout of public service facilities and their accessibility are important factors affecting spatial justice. Previous studies have verified the positive influence of public facilities accessibility on house prices; however, the spatial scale of the impact of various public facilities accessibility on house prices is not yet clear. This study takes transportation analysis zone of Wuhan city as the spatial unit, measure the public facilities accessibility of schools, hospitals, green space, and public transit stations with four kinds of accessibility models such as the nearest distance, real time travel cost, kernel density, and two step floating catchment area (2SFCA), and explores the multiscale effect of public services accessibility on house prices with multiscale geographically weighted regression model. The results show that the differentiated scale effect not only exists among different public facility accessibilities, but also exists in different accessibility models of the same sort of facility. The article also suggests that different facilities should adopt its appropriate accessibility model. This study provides insights into spatial heterogeneity of urban public service facilities accessibility, which will benefit decision making in equal accessibility planning and policy formulation for the layout of urban service facilities.

scholarly journals Factors Affecting the Price of Commercial Housing in Haikou Housing

2018 ◽  
Vol 5 (5) ◽  
pp. 59
Author(s):  
Ji-Yan Wu ◽  
Wan-Yin Zheng ◽  
Xu-You Zeng
Keyword(s):  
Economic Growth ◽  
House Prices ◽  
Housing Prices ◽  
Consumer Price Index ◽  
Population Movements ◽  
Factors Affecting ◽  
Positive Effects ◽  
Correlation Degree ◽  
Grey Correlation Degree ◽  
The Impact

This paper uses the grey correlation degree and factor analysis method to carry out empirical research on the main influencing factors of residential price extraction in Haikou City according to the data of Haikou City from 2013 to 2018 as a sample. The research results show that the factors affecting housing prices can be divided into two aspects. From the economic level, the impact of population, regional GDP and per capita disposable income are positive effects. They promote economic growth to increase housing prices. From the perspective of expenditure levels, expected housing prices, investment costs, and consumer price index will affect housing prices by influencing consumers and investors spending decisions. On the whole, the key factors affecting house prices are mainly policies, population movements, economic growth, and total investment costs.

scholarly journals Does the Difference in Urban Public Facility Allocation Cause Spatial Inequality in Housing Prices? Evidence from Chongqing, China

2019 ◽  
Vol 11 (21) ◽  
pp. 6096 ◽  
Author(s):  
Zhang ◽  
Zhou ◽  
Mao
Keyword(s):  
Equilibrium State ◽  
Housing Market ◽  
Housing Prices ◽  
Spatial Inequality ◽  
Public Facility ◽  
Spatial Equilibrium ◽  
Public Facilities ◽  
Study Results ◽  
The Difference ◽  
The Impact

The current study argues that the capitalisation effect of urban public facilities on housing will be considerable when the accessibility or availability of facilities has a serious stake in the location or property rights of houses. The supply level and supply quantity of urban public facilities determine whether there is a significant difference in the accessibility or availability of facilities amongst neighbourhoods, and subsequently determines whether the capitalisation effect of facilities on surrounding houses is considerable, which ultimately affects the spatial inequality in housing prices (i.e. spatial dispersion of housing prices). However, previous studies have rarely considered the fact that the supply and demand of urban public facilities vary with the type of facilities. Thus, according to the law of diminishing marginal utility, the current study proposes a theoretical framework for the impact of the allocation of urban public facilities at different supply levels on the spatial inequity in housing prices and verifies this through a case study. Results indicate that the difference in urban public facility allocation caused by the unequal supply quantity or unbalanced spatial distribution has a notable impact on the spatial inequality in housing prices. There are three states of allocation of urban public facilities available according to different supply levels, namely, disequilibrium, quantitative equilibrium and spatial equilibrium:(І) Scarce and high-quality public resources that may always be in the disequilibrium state create a substantial capitalisation effect on nearby housing, and their presence will aggravate spatial inequality in housing prices; (П) Public facilities that can only reach the quantitative equilibrium state have a considerable capitalisation effect on nearby housing, and their supply densities have a positive impact on the spatial inequality in housing prices; (Ш) Public facilities in the spatial equilibrium state have a negligible capitalisation effect on nearby housing, and their supply densities have a negative impact on the spatial inequality in housing prices. Therefore, it is reasonable to argue that urban public facilities at different supply levels have a diversified impact on the housing market. This study can contribute to having a comprehensive and in-depth understanding of the diversified impact of urban public facilities on the housing market.

Has tourism driven house prices in Germany? Time-varying evidence since 1870

2021 ◽  
pp. 135481662110088
Author(s):  
Sefa Awaworyi Churchill ◽  
John Inekwe ◽  
Kris Ivanovski
Keyword(s):  
World War Ii ◽  
Historical Data ◽  
House Prices ◽  
Housing Prices ◽  
Time Varying ◽  
Data Set ◽  
Time Series Modelling ◽  
The Impact ◽  
Tourism Flows ◽  
Non Parametric

Using a historical data set and recent advances in non-parametric time series modelling, we investigate the nexus between tourism flows and house prices in Germany over nearly 150 years. We use time-varying non-parametric techniques given that historical data tend to exhibit abrupt changes and other forms of non-linearities. Our findings show evidence of a time-varying effect of tourism flows on house prices, although with mixed effects. The pre-World War II time-varying estimates of tourism show both positive and negative effects on house prices. While changes in tourism flows contribute to increasing housing prices over the post-1950 period, this is short-lived, and the effect declines until the mid-1990s. However, we find a positive and significant relationship after 2000, where the impact of tourism on house prices becomes more pronounced in recent years.

scholarly journals House Price Convergence on the Primary and Secondary Markets: Evidence from Polish Provincial Capitals

2019 ◽  
Vol 27 (4) ◽  
pp. 62-73 ◽  
Author(s):  
Mateusz Tomal
Keyword(s):  
Driving Forces ◽  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Secondary Markets ◽  
Factors Affecting ◽  
Long Run ◽  
Convergence Clubs ◽  
Shape Pattern ◽  
Convergence Model

Abstract The aim of this study is to identify whether there is a common house price trend across provincial capitals in Poland. The log t regression is the main method of analysis. Additionally, traditional convergence tests based on the concepts of β- and σ-convergence are used. The obtained results indicate that the cities do not share a common price in the long-run. There are, however, convergence clubs on both primary and secondary markets. In each club, house prices across cities tend to converge to their own steady state. Moreover, research on the driving forces of convergence reports that factors affecting housing prices differ among the clubs. Therefore, policymakers should adjust housing policies in accordance with the characteristics of a given club. In turn, the σ-convergence model demonstrated a very interesting finding, namely, a U-shape pattern of convergence, both on the primary and secondary markets. This pattern is strictly correlated with the level of prices on the markets.

Factors affecting electronic invoice adoption and tax compliance process efficiency

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yulan Qi ◽  
Anna Che Azmi
Keyword(s):  
Positive Impact ◽  
Tax Compliance ◽  
Positive Influence ◽  
Mediating Effect ◽  
Process Efficiency ◽  
Future Research ◽  
Least Squares Regression ◽  
Content Type ◽  
Factors Affecting ◽  
The Impact

Purpose The purpose of this study is to examine the factors that affect the adoption of electronic invoices and in turn the impact of these factors on the tax compliance process efficiency of companies. Design/methodology/approach A questionnaire survey was distributed to 276 users who adopted electronic invoicing. Partial least squares regression was used to analyze the collected data. Findings This study found that perceived benefits and trust in e-government had a positive influence on the adoption of electronic invoices. At the same time, the adoption of electronic invoice was found to have a positive impact on the overall efficiency of the tax compliance process. Moreover, the factors affecting adoption of electronic invoices can have a mediating effect on that adoption and tax compliance process efficiency. Research limitations/implications This study only explored these influencing factors on companies that have adopted electronic invoicing. Future research should distinguish between adopters and non-adopters. Practical implications The results of this study can guide tax authorities and other electronic invoice suppliers when promoting the adoption of electronic invoicing. Social implications This research can provide guidance to tax authorities to improve their own electronic invoice system by creating a workforce that have the skills to strengthen citizen’s trust in the electronic invoice system. Originality/value This study contributes to the electronic adoption literature by examining those factors that impact tax compliance processes efficiency.

The Impact of Neighborhood Characteristics on Housing Prices-An Application of Hierarchical Linear Modeling

2012 ◽  
Vol 1 (2) ◽  
pp. 31-44
Author(s):  
Lee Chun Chang ◽  
Hui-Yu Lin
Keyword(s):  
Empirical Study ◽  
Hierarchical Linear Modeling ◽  
House Prices ◽  
Housing Prices ◽  
Neighborhood Characteristics ◽  
Linear Modeling ◽  
Hierarchical Linear Modelling ◽  
Neighborhood Characteristic ◽  
Linear Modelling ◽  
The Impact

Housing data are of a nested nature as houses are nested in a village, a town, or a county. This study thus applies HLM (hierarchical linear modelling) in an empirical study by adding neighborhood characteristic variables into the model for consideration. Using the housing data of 31 neighborhoods in the Taipei area as analysis samples and three HLM sub-models, this study discusses the impact of neighborhood characteristics on house prices. The empirical results indicate that the impact of various neighborhood characteristics on average housing prices is different and that the impact of house characteristics on house prices is also moderated by neighborhood characteristics.

scholarly journals A new Mass Rapid Transit (MRT) line construction and housing wealth: Evidence from the Circle Line

2017 ◽  
Vol 1 (1) ◽  
pp. 64 ◽  
Author(s):  
Mi Diao ◽  
Yi Fan ◽  
Tien Foo Sing
Keyword(s):  
House Prices ◽  
Phase 1 ◽  
Housing Prices ◽  
Wealth Effects ◽  
Housing Wealth ◽  
Rapid Transit ◽  
Treatment Zone ◽  
Housing Wealth Effects ◽  
The Impact ◽  
Mass Rapid Transit

This study uses the opening of the new Mass Rapid Transit (MRT) in stages between 2010 and 2012 in Singapore as the exogenous event to empirically test the impact of the new Circle Line (CL) on housing wealth. Applying a "differences-in-differences" approach to the non-landed private housing transaction data covering the period from 2009 to 2013, we find that the average housing prices increase by 1.6% in the post-opening of the CL. We find significant capitalization of the new CL into housing prices, especially households living within a 400-meter radius (the treatment zone) from the closest MRT stations on the CL. The treatment effects that are measured by the “marginalwillingness to pay” for houses located within the treatment zone is 13.2% relative to houses located outside the treatment zone. The new CL opening creates an estimated S$1.23 billion housing wealth effects for households living in close proximity to the CL MRT stations. However, we do not find significant "anticipative" effects on house prices in the six-month window prior to the opening of CL. The strongest treatment effect is found after the opening of the phase 1 of CL, and the treatment intensity declines in phases 2 and 3 of the CL opening.

Causal effects of immigration inflows on house prices in a traditionally non-destination country

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Woei Chyuan Wong ◽  
Jan-Jan Soon
Keyword(s):  
Fixed Effects ◽  
Positive Impact ◽  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Developed Countries ◽  
Annual Data ◽  
Content Type ◽  
Variable Approach ◽  
The Impact

Purpose The purpose of this study is to examine the causal impact of international immigration inflows on housing prices at the state level in Malaysia from 2007 to 2018. Design/methodology/approach Hedonic regressions using both fixed effects and first difference approaches are used to estimate the impact of immigration inflows on house prices in Malaysia. This study deals with potential endogeneity of immigrants’ choices of destination states in Malaysia by using a shift-share instrument variable approach. Specifically, historical shares of immigrants in a state are used to predict current immigrant inflows to a particular state. The predicted value of immigration flows is then inserted into the house price regression models in place of the actual immigration flows. Findings Using annual data for 14 states from 2007 to 2018, this study documents the positive impact of immigration inflows on house prices in Malaysia. The authors find that a 1% increase in immigration inflows is associated with an increase of 10.2% (first difference) and 13.4% (fixed effects) in house prices. The economic impact is larger in magnitude than that found in developed countries. Contrary to existing studies that find immigration inflows to be associated with native flight, the authors find support for the attraction effects hypothesis, where immigration inflow is positive and significantly related to net native flows. Research limitations/implications The effects of immigration inflows are economically significant, considering that the effects are 10 times larger than those documented in the USA. Policymakers in Malaysia ought to monitor house price trends in immigrant-popular states to ensure that natives are not priced out by new immigrants. Originality/value To the best of the authors’ knowledge, this is perhaps the first study to focus on the relationship between immigration inflows and house prices in Malaysia. Focusing on Malaysia has at least two originality aspects. First, Malaysia is relatively not an immigrant-popular destination. Second, Malaysia has a multiracial and heterogenous society among its natives. The findings, obtained within these two settings, would therefore provide a wider scope of result generalization, and natural experiment grounds for causal implications of our results.

Factors affecting housing prices in Izmir, Turkey: a quantile regression approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Onur Özsoy ◽  
Hasan Şahin
Keyword(s):  
Quantile Regression ◽  
House Prices ◽  
Housing Prices ◽  
Least Square ◽  
Policy Implications ◽  
Content Type ◽  
Factors Affecting ◽  
Ordinary Least Square ◽  
Major Factors ◽  
Quantile Regression Method

Purpose The purpose of this paper is to investigate empirically the main factors that affect the house prices in Izmir, Turkey using the quantile regression and ordinary least square approaches. Design/methodology/approach Sample data about the housing market for Izmir collected from the web pages of various real estate agencies during June 2018. Following this, the quantile regression method is used to estimate all possible effects of variables on each interested quantile to determine the factors that affect house prices to guide the potential consumers, house developers, city planners and the policymakers in Izmir, Turkey. Findings Results show that the age of the house, central heating and parking have no significant effect on prices. The size of the house, the existence of an elevator, fire and security have a positive and significant effect on prices. The number of rooms has lower values for high-priced houses, while the floor, the number of balconies, air conditioning, proximity to schools have a higher value for high-priced houses. The number of toilets, the number of bathrooms and the distance to the hospital have a lower value on the high-priced housing. The value of the distance from the city center and the shopping center is almost uniform in all quantiles and lowers the value of the higher-priced houses. With the exception of the value of the houses in the 10th percentile in Balcova district, the value of the houses in Konak, Balcova and Narlidere is lower prices in Karsiyaka. Originality/value This is the first comprehensive research to determine the major factors that affect house prices in Izmir. The second contribution of this paper is that it includes all possible variables and accordingly derives adequate policy implications, which could be used both by the public housing authority and private housing constructing companies in designing and implementing effective housing policies.

scholarly journals Energy Performance Certificates and Its Capitalization in Housing Values in Sweden

2019 ◽  
Vol 11 (21) ◽  
pp. 6101 ◽  
Author(s):  
Mats Wilhelmsson
Keyword(s):  
Propensity Score ◽  
House Prices ◽  
Housing Prices ◽  
Housing Price ◽  
Energy Performance ◽  
Control Group ◽  
Propensity Score Method ◽  
Propensity Score Methods ◽  
Price Distribution ◽  
The Impact

The impact on energy performance certificates on housing prices has been investigated extensively in recent years. However, the results of these investigations are mixed. We add to the literature by more specifically controlling for potential biases, by employing a combination of alternative approaches to estimate the causal relationship between house prices and energy performance certificates. We use a traditional hedonic modeling approach, but we additionally employ propensity score methods to be able to compare treated houses with a control group. We also investigate the impact of the outliers, spatial dependency, and parameter heterogeneity of our estimates. Moreover, we use the quantile regression technique to test the hypothesis that the capitalization effect varies across the price distribution. Our results, analyzing more than 100,000 observations, indicate there is an upward bias if one is not controlling for outlier and selection bias. Regardless of the propensity score method approach, the results are lower than a model (around 3 percent capitalization, compared to 6 percent). However, our results do not support that the impact of energy performance certificates varies in the price distribution. Consequently, the certificates are not differently capitalized in the high-end housing price segment. Finally, our results support the hypothesis that the energy performance certificate should be more capitalized into house prices in the northern and colder parts of Sweden than in the southern regions.

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