scholarly journals HEDONIC ANALYSIS OF PRICE IN THE ISTANBUL HOUSING MARKET

2008 ◽  
Vol 12 (2) ◽  
pp. 125-138 ◽  
Author(s):  
Berna Keskin
Keyword(s):  
Housing Prices ◽  
Housing Price ◽  
Urban Housing ◽  
Earthquake Risk ◽  
Hedonic Price ◽  
Modelling Framework ◽  
Price Determinants ◽  
Housing Submarket ◽  
Living Area ◽  
Storey Building

The purpose of this paper is to explore the factors that affect housing prices in Istanbul. A hedonic price model is employed in order to examine housing price determinants with respect to property characteristics, socio‐economic characteristics, neighbourhood quality characteristics, and locational factors. The results reveal that housing prices are affected by these factors: living area size, being in a low storey building, being in a secured site (with swimming pool and garage), and age of the building. In addition to these determinants, the length of time the inhabitants have lived in Istanbul, the average income of the household, neighbour satisfaction and earthquake risk of the area have effects on the residential prices in Istanbul. Further research is suggested by constructing a second model that includes neighbourhood dummy variables as a proxy for submarkets, and a multi‐level modelling framework will be employed in order to analyse the urban housing submarket system. Santrauka Šiame darbe siekiama išnagrinėti veiksnius, kurie daro įtaką būsto kainoms Stambule. Pa si tel kus hedoninį kainų modelį, tyrinėjami būsto kainas lemiantys veiksniai, atsižvelgiant į nekilnojamojo turto charakteristikas, socialinius-ekonominius veiksnius, apylinkių kokybės bruožus ir vietos veiksnius. Rezultatai rodo, kad būsto kainoms įtaką daro tokie veiksniai: gy ve namosios teritorijos dydis, pastato aukštingumas, buvimas sklype ir pastato amžius. Be šių veiksnių, būsto kainas Stambule veikia ir laikas gyventas mieste, vidutinės namų ūkio pajamos, patinkantys kaimynai bei žemės drebėjimų rizika toje terito ri jo je. Siūloma atlikti tolesnius tyrimus, suformuojant antrą fi ktyviuosius apylinkių kintamuosius apimantį modelį, kuris bus taikomas kaip subrinkų pakaitalas, o naudojant daugialypę modeliavimo struktūrą bus siekiama išanalizuoti miesto būsto subrinkos sistemą.

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>

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%.

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.

scholarly journals School Desegregation and Urban Change: Evidence from City Boundaries

2012 ◽  
Vol 4 (1) ◽  
pp. 85-108 ◽  
Author(s):  
Leah Platt Boustan
Keyword(s):  
Public Schools ◽  
Metropolitan Areas ◽  
Housing Prices ◽  
Housing Price ◽  
Urban Housing ◽  
Urban Residents ◽  
Urban Residence ◽  
Tax Base ◽  
Central Cities ◽  
The City

I examine changes in the city-suburban housing price gap in metropolitan areas with and without court-ordered desegregation plans over the 1970s, narrowing my comparison to housing units on opposite sides of district boundaries. Desegregation of public schools in central cities reduced the demand for urban residence, leading urban housing prices and rents to decline by 6 percent relative to neighboring suburbs. Aversion to integration was due both to changes in peer composition and to student reassignment to nonneighborhood schools. The associated reduction in the urban tax base imposed a fiscal externality on remaining urban residents. (JEL H75, I21, I28, J15, R23, R31)

scholarly journals The House Price Dynamics and the Macro-Economy: an Empirical Perspective of UAE

2019 ◽  
Vol 2 (1) ◽  
pp. 28-33
Author(s):  
Yahya Hamad Al Zaabi ◽  
Genanew Bekele
Keyword(s):  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Housing Price ◽  
Future Research ◽  
Hedonic Price ◽  
Policy Makers ◽  
Empirical Perspective ◽  
House Condition ◽  
Internal And External Factors

Objective: The paper aims to examine house price drivers in Dubai, addressing the effect of internal and external factors afecting house prices   Design/methedology/approach: Using the Hedonic price model, the study examined the implications of house size (space), the availability of bathrooms, bedrooms, waterfronts, and pool and cell phone towers within residential area as auxiliary determinant factors to housing price within developed cities by using the Hedonic Modelling. Also, study highlight the effect of the green strategies that been followed by developer on the housing prices.   Findings: The study is expected to reveal results with significant ramifications for researchers, practitioners and policy makers. From a policy perspective, there is an obvious interest in understanding whether the price of housing is affected by different attributes differently along its distribution.   Research limitations/implications: The data used in this study could be limited, and depends on information to be provided by the Dubai Land Department. There is a room for future research to include more data (such as on other house attributes such as house condition, plot numbers and configuration).

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.

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.

Study on Commodity Residential House Price Volatility of the Guanzhong Urban Agglomeration Using Spatial Econometric Analysis

2014 ◽  
Vol 638-640 ◽  
pp. 2436-2441
Author(s):  
Feng Lan ◽  
Ying Tian
Keyword(s):  
Housing Prices ◽  
House Price ◽  
Great Influence ◽  
Housing Price ◽  
Price Volatility ◽  
Urban Housing ◽  
Urban Agglomeration ◽  
Spatial Econometric ◽  
Residential House ◽  
House Price Volatility

This paper was based on the theory of spatial econometric model. It selected the panel datas of the guanzhong urban agglomeration of five core cities from 1998 to 2012, and inspected the commodity residential house price if there is a space dependency relationship between the two cities. On the basis to analyze the main factors influencing the commodity residential house price volatility and research on the influence of the housing price direction. Results show that the sample is significant spatial correlation between urban housing prices. Xi 'an have great influence on regional cities housing price. The urban population, household disposable income, land acquisition costs, sales area are the main influence factors affecting housing price volatility.

scholarly journals The influence of a mortgage interest and capital deduction policy on house prices

2020 ◽  
Vol 38 (6) ◽  
pp. 563-577
Author(s):  
Wouter Vangeel ◽  
Laurens Defau ◽  
Lieven De Moor
Keyword(s):  
Interest Rates ◽  
Fixed Effects ◽  
Design Methodology ◽  
House Prices ◽  
Housing Prices ◽  
Housing Price ◽  
Content Type ◽  
Mortgage Interest ◽  
Price Determinants ◽  
Fixed Effects Regression

PurposeSince 2005, Belgian housing prices have strongly increased. As the timing coincides with the implementation of a new fiscal package in order to stimulate homeownership, our study attempts to provide an understanding whether the mortgage interest and capital deduction (MICPD) policy has had the side-effect of increasing housing prices while, at the same time, controlling for key housing price determinants.Design/methodology/approachA fixed-effects regression model is used on a panel dataset of the three Belgian regions over the period 1995–2015.FindingsEstimations are carried out separately for different house types, being useful as our empirical analysis ascertains a significant price-increasing effect for ordinary houses and apartments but a significant price-reducing effect for villas. In addition, we find, among other things, that interest rates' influence has been less substantial than commonly thought.Originality/valueThese results are relevant for all governments willing to stimulate homeownership through fiscal stimuli.

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.

Sign in / Sign up

Export Citation Format

Share Document