scholarly journals A Study on the Impact of Unconventional (and Conventional) Drilling on Housing Prices in Central Oklahoma

2021 ◽  
Vol 13 (24) ◽  
pp. 13880
Author(s):  
Kangil Lee ◽  
Brian Whitacre
Keyword(s):  
Housing Prices ◽  
Housing Price ◽  
Local Environment ◽  
Underground Water ◽  
Environmental Pollutant ◽  
Hedonic Price ◽  
Development Activity ◽  
Home Buyer ◽  
The Impact ◽  
Unconventional Drilling

Shale energy development activity may benefit some aspects of a regional economy (such as increased jobs or tax revenue); however, there may also be negative impacts to the local environment, such as noise and underground water contamination. We study the impact of unconventional drilling activity on housing price in an area of the country with a long history of crude oil production. A prospective home buyer may want to avoid a place near sites that have been drilled using unconventional drill technologies such as horizontal fracturing. Adopting a hedonic price model, we estimate the impact of distance to and density of unconventional drilling on housing prices in two central counties in Oklahoma during the period 2001–2016. We also apply a semiparametric approach to deal with the possibility that the relationship between an environmental pollutant source and housing price is nonlinear. The empirical results are consistent in terms of physical housing characteristics and locational aspects in all cases, with drilling activity having only a minimal effect in benchmark models. Further, the semiparametric estimation results support the findings that drilling activity has only limited impacts on local housing prices.

scholarly journals Heterogeneity Analysis of Urban Rail Transit on Housing with Different Price Levels: A Case Study of Chengdu, China

Land ◽  
2021 ◽  
Vol 10 (12) ◽  
pp. 1330
Author(s):  
Pengyu Ren ◽  
Zhaoji Li ◽  
Weiguang Cai ◽  
Lina Ran ◽  
Lei Gan
Keyword(s):  
Housing Prices ◽  
Housing Price ◽  
Ordinary Least Squares ◽  
Urban Rail Transit ◽  
Rail Transit ◽  
Hedonic Price ◽  
Least Squares Regression ◽  
Price Levels ◽  
Urban Rail ◽  
The Impact

The impact of urban rail transit on housing prices has attracted the extensive attention of scholars, but few studies have explored the heterogeneous impact of rail transit on housing prices with different price levels. To solve this problem, we adopted the hedonic price model based on ordinary least squares regression as a supplementary method of quantile regression to study the heterogeneous impact of the Chengdu Metro system on low-, middle-, and high-priced housing. The result shows that the housing price rises first, then falls with the distance from the housing to the nearest subway station. Besides, the influence of transportation accessibility on low-, middle-, and high-priced housing decreases progressively. This research can provide a reference for the government’s transportation planning and decision-making.

scholarly journals THE EFFECTS OF A SHOPPING MALL ON HOUSING PRICES: A CASE STUDY IN HANGZHOU

2018 ◽  
Vol 23 (1) ◽  
pp. 65-80 ◽  
Author(s):  
Ling Zhang ◽  
Jiantao Zhou ◽  
Eddie C. M. Hui ◽  
Haizhen Wen
Keyword(s):  
Housing Prices ◽  
Housing Price ◽  
Shopping Mall ◽  
Hedonic Price ◽  
Shopping Malls ◽  
Time Dimension ◽  
Positive Effects ◽  
The Impact ◽  
Positive Effect

There are few studies on the externalities of shopping malls affecting the housing market. This study aims to discuss two issues: (1) What is the intensity of the impact of a shopping mall? (2) When does the external influence of a shopping mall begin to reveal itself? The West Intime Shopping Mall in Hangzhou offers a unique situation to research the questions. By dividing the study area into nine blocks, using hedonic price theory, and the price gradient approach with housing price data from 2011 to 2015, we found that in the space dimension, the mall exerted a significantly positive effect on the housing prices of nearby blocks. With the increase in distance from the mall, the positive effect decreased. There were more significantly positive effects in blocks far away from the city center. In the time dimension, the effects of West Intime did not reveal themselves until the mall had started to operate and gradually matured over time, implying that the mall did not have the obvious expected impact on housing prices before the mall had begun operating.

scholarly journals Temporal and Spatial Effects of Urban Center on Housing Price — A Case Study on Hangzhou, China

2018 ◽  
Vol 5 (1) ◽  
pp. 89 ◽  
Author(s):  
Luhong Chu ◽  
Haizhen Wen
Keyword(s):  
Rapid Development ◽  
Housing Prices ◽  
Housing Price ◽  
Urban Land ◽  
Urban Housing ◽  
Spatial Effects ◽  
Hedonic Price ◽  
Urban Center ◽  
Center City ◽  
The Impact

<em>With the acceleration of urbanization and the rapid development of real estate, people pay more and more attention to the change of urban housing prices. Over time, the change of city center will inevitably affect the urban land or housing prices, which is reflected in the spatial distribution of urban land or housing prices. Therefore, this article attempts to explore the impact of urban center on housing prices from the perspective of multi-center city and study separately from two aspects of time and space. This paper takes the six main urban districts of Hangzhou as the research scope. At the time level, we select the residential data from 2007 to 2015 to construct models respectively based on the hedonic price theory and find that the influence of different urban center on housing price shows a certain change with time. On the spatial level, this paper choses the residential data in 2012 to construct geographic weighted regression model and the result shows that the impact of three centers on housing prices shows a certain degree of spatial heterogeneity.</em>

scholarly journals The Impact of Micro-Level Influencing Factors on Home Value: A Housing Price-Rent Comparison

2018 ◽  
Vol 10 (12) ◽  
pp. 4343 ◽  
Author(s):  
Nana Cui ◽  
Hengyu Gu ◽  
Tiyan Shen ◽  
Changchun Feng
Keyword(s):  
Influencing Factors ◽  
School Quality ◽  
School Attendance ◽  
Housing Prices ◽  
Housing Price ◽  
Living Environment ◽  
Hedonic Price ◽  
Micro Level ◽  
Employment Center ◽  
The Impact

The housing sales market in China has flourished and gained considerable interest, while the housing rental market has lagged behind and been ignored over the past two decades. With the acceleration of urbanization, the housing rental demand is rising rapidly. Exploring and comparing the influencing factors on housing sale prices and rental prices has significance for sustainable urban planning and management. Using house purchase transaction and rent transaction data in 2017, as well as the average housing price and rent data in 2016 in Beijing, China, this paper compares the spatial distribution and it employs the hedonic price model and quantile regression model to quantify the average and distributional effects of micro-level influencing factors on housing prices and housing rents. Results show that housing prices and housing rents both have a decentralized distribution with multiple centers, but rents of residential communities with high housing prices may not necessarily be high. Both homeowners and renters prefer properties with good structural, locational, and neighborhood characteristics, as well as a good school attendance zone, whereas they still differ in terms of preferences. Homeowners prefer a higher-quality living environment. Renters are more concerned with proximity to an employment center and public transit convenience. Moreover, the price premium of school quality for homeowners exceeds the premium for renters. Higher-priced homeowners or renters differ in the preferences from lower-priced homeowners or renters. Higher-priced homeowners and higher-priced renters are more willing to live in property with a larger number of bedrooms, proximity to a major employment center, park, or school, as well as a location in a school attendance zone with higher school quality.

scholarly journals Precarious Suicide Behavior According to Housing Price Gap: A Case Study on South Korea

2021 ◽  
Vol 18 (18) ◽  
pp. 9877
Author(s):  
Sungik Kang ◽  
Hosung Woo ◽  
Ja-Hoon Koo
Keyword(s):  
South Korea ◽  
Urban Areas ◽  
Statistical Significance ◽  
Economic Inequality ◽  
Housing Prices ◽  
Housing Price ◽  
National Health Survey ◽  
Primary Analysis ◽  
The Impact

In 2018, the suicide rate in South Korea was the highest among the Organisation for Economic Co-operation and Development countries, and socioeconomic inequality has intensified. This study analyzes the impact relationship between suicidal impulses and economic inequality in South Korea. This study measures suicidal impulses thoughts National Health Survey Data and economic inequality based on the housing prices gap in the country. The primary analysis results were as follows: First, suicidal impulses were positively associated with the high index of housing price inequality; this correlation has become tight in recent years. Second, it was confirmed that the higher the income level, the higher the correlation between suicidal impulses with the index of housing price inequality. Third, the correlation between housing price inequality with suicidal impulse increased consistently in highly urbanized areas, but the statistical significance was low in non-urban areas.

The Impact of Tourism, Game of Thrones and Income on Croatian Housing Prices

2021 ◽  
Author(s):  
Billie Ann Brotman
Keyword(s):  
Price Index ◽  
Housing Prices ◽  
Housing Price ◽  
Least Squares Regression ◽  
Television Show ◽  
Tourism Impact ◽  
Housing Price Index ◽  
The Republic ◽  
The Impact ◽  
Game Of Thrones

The Game of Thrones television program was widely seen throughout the world. The show acted as an advertisement for travel and home purchases in the Republic of Croatia. A hedonic least squares regression model adjusted for autocorrelation is used to consider the impact of the television show, tourist visits to the country and domestic personal income on the housing price index. The descriptive statistics and regression results suggest that the television show and tourism impact existing housing prices. Visitors to the country purchased or rented enough housing to cause demand to increase for residential properties which results in a higher housing price index. Per capita domestic income is not a significant factor influencing the housing price index for existing dwellings.

International Real Estate Review

2020 ◽  
Vol 23 (3) ◽  
pp. 417-432
Author(s):  
Yen-Jong Chen ◽  
◽  
Cheng-Kai Hsu ◽  
Keyword(s):  
Urban Areas ◽  
Housing Prices ◽  
Housing Price ◽  
Hedonic Price ◽  
Rapid Transit ◽  
Transit Oriented Development ◽  
Transaction Data ◽  
Hedonic Price Models ◽  
Transit Accessibility ◽  
Different Types

Constructing multimodal stations is one of the considered ways to implement transit-oriented development (TOD), with the goal of synergizing land use and transportation to promote both greater transit accessibility and sustainability in urban areas. Improvements in such accessibility have led to an uplift in land value and housing prices. These price changes have been primarily studied by analyzing the effects of proximity to stations of a single line or multi-line mass rapid transit (MRT) system. However, little attention has been paid to investigating the effects of different types of multimodal MRTs and railway joined stations. The aim of this study is to investigate the different types of multimodal stations in Kaohsiung City, Taiwan. We use publicly available housing transaction data to construct hedonic price models. The results show that in the Kaohsiung MRT stations, an increase of 100 m in distance from the stations results in a TWD 258,000 decrease in the average housing price. The housing price elasticity with respect to a 1% increase in distance from these stations is -0.067%.

The effect of ISO14001 certification in property management on property price

2014 ◽  
Vol 12 (2) ◽  
pp. 97-117 ◽  
Author(s):  
Eddie Chi-man Hui ◽  
Cheuk-kin Tse ◽  
Ka-hung Yu
Keyword(s):  
Hong Kong ◽  
Public Relations ◽  
Housing Price ◽  
Environmental Management System ◽  
Property Management ◽  
Hedonic Price ◽  
Content Type ◽  
Property Price ◽  
The Impact ◽  
A Company

Purpose – As environmental awareness has become increasingly pronounced among various stakeholders such as governments and communities, many businesses start to adopt a more environmental-friendly approach in their operations. Even a service-oriented industry such as property management is no exception. One way to showcase a company's commitment to this cause is to become ISO14001-certified, under which it is required to implement an environmental management system. In light of this, this paper aims to investigate the impact of this certification in property management, along with two other well-known management certifications/awards in ISO9001 and Hong Kong Management Association Quality Award (HKMAQA), on property price. Design/methodology/approach – The hedonic price model was used to determine whether or not there is a relationship between ISO14001 certification (as well as ISO9001 and HKMAQA) and property price, and if so, its impact. Three districts from different parts of Hong Kong, including 17 private residential developments, were covered in this research. Findings – The results show that a flat managed by a company with ISO9001 certification is 8.87 percent higher than another flat managed by a non-ISO9001-certified property management companies (PMC); the adoption of ISO14001 certification appears to help generate a premium of about 3.65 percent in property price for a PMC which has already been ISO9001-certified; and for a company already with both ISO9001/14001 certifications, the obtaining of HKMAQA brings about an extra 15.37 percent in housing price. It can be said that the impact of ISO14001 certification on property value is smaller than that of the other two management standards. Research limitations/implications – The findings do not necessarily suggest that the adoption of ISO14001 (or HKMAMA) generates the exact same premium to a residential property by itself, as two or more components in tandem may create more value than the sum of the parts. Nonetheless, considering that most companies have already been ISO9001-certified prior to considering an ISO14001 certification, they, as separate variables, are inevitably highly correlated which could be an issue when using methods such as hedonic models. This renders the assessment of the impact on property price solely attributed to ISO14001 rather problematic if they are studied together. Practical implications – In the short run, ISO14001 certification, as a public relations tool, might actually help flats within these developments to gain an advantage over the competitors within the district, or at least offset the adverse impact of some of its intrinsic defects in order to stay competitive (for instance, the age issue and the smaller brand name effect due to the development's lack of scope), but not in the long run. Originality/value – The paper has provided some insights regarding the effect of various management standard certifications in property management, from the perspective of the end-users (i.e. homebuyers), rather than from that of those involved in the operations as seen in previous studies. This serves as a reference for developers, property managers, buyers, and users alike.

scholarly journals The Unequal Impact of Natural Landscape Views on Housing Prices: Applying Visual Perception Model and Quantile Regression to Apartments in Seoul

2020 ◽  
Vol 12 (19) ◽  
pp. 8275
Author(s):  
Hyejin Lee ◽  
Byoungkil Lee ◽  
Sangkyeong Lee
Keyword(s):  
Visual Perception ◽  
Quantile Regression ◽  
Housing Prices ◽  
Housing Price ◽  
Value Added ◽  
Wealth Inequality ◽  
Ordinary Least Squares ◽  
Hedonic Price ◽  
Natural Landscape ◽  
Perception Model

Natural landscape views have positive sides, such as providing restorative effects to urban residents, and negative sides, such as deepening wealth inequality. Previous studies have mainly focused on the positives and rarely on the negatives. From this perspective, this study aimed to analyze the unequal impact of natural landscape views on housing prices for apartments in Seoul. We proposed a visual perception model to analyze natural landscape views and, based on a hedonic price model, we used ordinary least squares and quantile regression to estimate the marginal impacts on housing prices. The results show that: (1) natural landscape views had positive impacts on housing prices, but their impacts did not reach the level of structural and locational characteristics such as apartment area and the distance to subway stations; (2) natural landscape views had different marginal impacts by housing price range and, in particular, had much higher value-added effects on higher-priced apartments, meaning that if old apartment complexes are redeveloped into high-rise ones, the improvement in natural landscape views generates great profit for apartment owners and intensifies wealth inequality; (3) the geographic information system-based visual perception model effectively quantified the natural landscape views of wide areas and is thus applicable for the rigorous analysis of various landscape views.

Application of ARMA Regression Model of Housing Prices Influence Factors of Xi'an

2013 ◽  
Vol 405-408 ◽  
pp. 3340-3342
Author(s):  
Hui Zhi ◽  
Yue Fan Wang
Keyword(s):  
Real Estate ◽  
Regression Model ◽  
Housing Prices ◽  
Influence Factors ◽  
Housing Price ◽  
The Real Estate ◽  
Housing Price Index ◽  
Long Run ◽  
The Government ◽  
The Impact

By selecting the relevant factors affect the real estate price, with the qualitative analysis method to analyze the housing prices changes of Xi'an, and then establish ARMA regression model of the housing price index, found that the factors exist long-run co-integration. In order to better reflect the actual, the government policy as a dummy variable is introduced into the model to make regression results more significantly, showing that government policies play an important role in the control of the impact on real estate prices.

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