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%.

Modeling Urban Systems

2012 ◽  
pp. 322-351 ◽  
Author(s):  
John D. Landis
Keyword(s):  
Land Use ◽  
Urban Growth ◽  
Travel Behavior ◽  
Growth Models ◽  
Urban Systems ◽  
Economic Base ◽  
Hedonic Price ◽  
Hedonic Price Models ◽  
Different Types ◽  
Behavior Models

This article examines the different types of urban model used in urban planning in North America, and to a lesser extent, in Europe, Asia, and South Americam, which include the population-projection models, economic base models, hedonic price models, and travel-behavior models. It describes emerging procedures such as land-use change and urban-growth models, and looks at Charles Tiebout's model of efficient public choice and Thomas Schelling's model of spatial segregation.

scholarly journals SPATIAL CLASSIFICATION OF TRANSPORT NETWORKS AND ITS CONNECTION WITH THE TYPOLOGY OF TRANSIT-ORIENTED DEVELOPMENT FOR THE CITIES OF NAJAF AND KUFA OF THE PROVINCE OF NAJAF

2020 ◽  
Vol 5 (9) ◽  
pp. 57-66
Author(s):  
A. Al-jaberi
Keyword(s):  
Land Use ◽  
Urban Areas ◽  
Road Network ◽  
Structural Features ◽  
Transit Oriented Development ◽  
Spatial Classification ◽  
The Road ◽  
Different Types ◽  
Gis Environment

Transport is a link between territories with different types of land use in urban areas. At the same time, the improved accessibility associated with the transport network can lead to increased segregation and a change in land use. The article analyzes the road network of the Najaf and Kufa cities, Najaf province, Iraq, in order to identify the spatial classification of roads and streets. Based on the analysis, three main types of roads and streets are identified with respect to their structural features and characteristics: regional, city and district. The dependence of the typology and location of transit-oriented zones on the classification of the road network is indicated. In the process of analyzing the study area, the most optimal points for the practice of transit-oriented development (TOD) are identified, the territories most favorable for the location of transit-oriented zones of regional, city and district significance are introduced, the main characteristics of these zones are given. In order to reach goals, this article includes the collection of data and the creation of a database for land use applying a geographic information systems (GIS) environment. The result of the spatial analysis are five regional nodes, six urban nodes and seven district nodes

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.

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 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 LOCATION HOUSING AFFORDABILITY INDEX: ANALYSING THE RELATIONSHIPS

2021 ◽  
Vol 19 (15) ◽  
Author(s):  
Mohd Azren Hassan ◽  
Yusfida Ayu Abdullah ◽  
Dasimah Omar ◽  
Muhammad Hakim Danial
Keyword(s):  
Urban Areas ◽  
Housing Prices ◽  
Housing Price ◽  
Sampling Technique ◽  
Simple Random Sampling ◽  
Housing Affordability ◽  
Primary Data ◽  
Klang Valley ◽  
The Relationship

Previous studies claimed that Malaysia is inclined towards a severely unaffordable housing price. Despite such crucial studies, the topics do not provide sufficient empirical evidence to establish a relationship between housing prices, housing and transportation expenditure in Malaysia. Therefore, this study examines the role of these variables in determining the Location Housing Affordability Index. The research had therefore identified measurement items that contribute to Location Housing Affordability Index. The primary data was obtained from urban areas in the Klang Valley using questionnaires, where a total of 363 respondents were selected using the Simple Random Sampling technique. The Partial Least Squares (PLS) method was adopted in analysing the collected data to determine the relationship. The outcome demonstrated the relationship between housing price, housing and transportation expenditure, indicating the significance of the Location Housing Affordability Index and can be a reference for housing policymakers.

scholarly journals Hedonic Analysis of Housing Prices and Development in Kaunas: Heritage Aspect

2019 ◽  
Vol 75 (2) ◽  
pp. 15-27
Author(s):  
Kastytis Rudokas ◽  
Mantas Landauskas ◽  
Odeta Viliūnienė ◽  
Indrė Gražulevičiūtė - Vileniškė
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Housing Prices ◽  
Positive Influence ◽  
Hedonic Price ◽  
The Real ◽  
The Real Estate ◽  
Heritage Buildings ◽  
New Construction ◽  
Real Estate Prices

The urban economists have stressed the importance of various amenities for the attractiveness of urban areas for residents and businesses and built cultural heritage can be considered as one of such amenities, the benefits of which should not be overlooked. This research was aimed to analyze the influence of heritage aspect including the heritage status or features of the building and the historic built environment in general on the real estate prices and development in Kaunas using hedonic price method. Two sets of data were collected for the analysis - general, including heritage buildings and including new construction since 2013. The research has demonstrated that heritage status and the year of construction (as older buildings can be considered having heritage features) have no significant positive influence on the real estate prices. Meanwhile, the location, heritage context and the architectural distinctiveness of new architecture have a direct influence on the real estate prices. The heritage context correlates with architectural quality of new construction as well. This reveals the benefits of heritage context both for the real estate developers and households; however, the study shows the unemployed social-economic potential of historic buildings as generators and maintainers of heritage context.

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.

Sign in / Sign up

Export Citation Format

Share Document