1record_id,doi,title,year,venue,authors,abstract,citations,oa_pdf273a99ac2da1279767fc4c587efa3df827085007e,10.48550/arxiv.2403.19915,Using Images as Covariates: Measuring Curb Appeal with Deep Learning,2024,arXiv.org,Ardyn Nordstrom; Morgan Nordstrom; M. Webb,"This paper details an innovative methodology to integrate image data into traditional econometric models. Motivated by forecasting sales prices for residential real estate, we harness the power of deep learning to add""information""contained in images as covariates. Specifically, images of homes were categorized and encoded using an ensemble of image classifiers (ResNet-50, VGG16, MobileNet, and Inception V3). Unique features presented within each image were further encoded through panoptic segmentation. Forecasts from a neural network trained on the encoded data results in improved out-of-sample predictive power. We also combine these image-based forecasts with standard hedonic real estate property and location characteristics, resulting in a unified dataset. We show that image-based forecasts increase the accuracy of hedonic forecasts when encoded features are regarded as additional covariates. We also attempt to""explain""which covariates the image-based forecasts are most highly correlated with. The study exemplifies the benefits of interdisciplinary methodologies, merging machine learning and econometrics to harness untapped data sources for more accurate forecasting.",2.0,3986d015372d1678cec83049efff0ba17173cd181,10.1080/14445921.2022.2110370,Feng Shui and superstition in Hong Kong’s residential housing market,2021,Pacific Rim Property Research Journal,Kwok-Chiu Lam,"ABSTRACT Many studies are undertaken in Hong Kong or elsewhere to explore the impact of Feng Shui on house values. However, most of them seemingly mix it up with numerical superstition and seldom consider genuine Feng Shui factors except water view. Others simply treat those elements as environmental attributes and miss the most essential ingredient underlying Feng Shui’s Form School approach – orientation of dwellings. Moreover, under Compass School approach, there are entirely different meaning of the digits 1 to 9. Using a local private residential estate, we collect 622 sales transactions over 2018Q1 – 2021Q3 for analysis. We encompass diverse Feng Shui variables in a log-linear hedonic model and assess their price impacts. We find that southwest is the best facing direction of houses under Period 8. Whereas sea view can fetch a price premium of 2.46%, a great discount of 6.45% has to be offered for a residence facing Sha Qi. As Sha Qi diminishes with higher floors, homebuyers are willing to pay extra 0.1% for each upper floor. Hong Kong residents appear not numerological superstitious, but they do favor certain environmental attributes in accord with Feng Shui.",2.0,423eba8065bb9aa835ca65c0dfa035edaea29c37b,10.1108/ijhma-06-2022-156,Editorial 15-3 International Journal of Housing Markets and Analysis,2022,International Journal of Housing Markets and Analysis,R. Reed,The methodology uses hedonic regression and propensity score matching econometric techniques to analyse the price of single-family housing prices. [...]the study combines data about zoning changes at the parcel level with nearby housing sales transactions to study any potential externality effects because of rezoning induced by private parties. The seventh paper from South Africa examines the dynamic relationship between house prices and household income per capita in the lower- and low middle-income housing segments. The tenth paper from Australia examined the impact of the recently completed light rail on the level of residential property values.,2.0,https://www.emerald.com/insight/content/doi/10.1108/IJHMA-06-2022-156/full/pdf?title=editorial-15-3-international-journal-of-housing-markets-and-analysis59f82fcff9aa5609e5707d7253a3c9869f58f283b,10.1145/3469213.3470371,Research on Real Estate Appraisal Method Based on Feature Engineering and BP Neural Network,2021,International Conference on Artificial Intelligence and Information Systems,Xiaoman Zhao; Xin-Wei Liu; Xu Cao,"With the rapid development and maturity of China’s real estate industry, the financial risk of the real estate industry is crucial as the banking financial risk and the real estate mort-gage evaluation system of the real estate market. Based on the GIS theme crawler framework, this paper collects data on related websites and combines the price theory of residential real estate to establish a Hedonic commodity housing price influencing factor model. The results of goodness-of-fit test and analysis of variance are performed on the various indicators of commodity housing. In order to study the influence of different factors on the price of commercial housing, and scientifically select the influence indicators that affect the price of commercial housing. According to the implementation steps of BP(Back Propagation) neural network prediction, explore the application of BP neural network in predicting the price of commercial housing in Hefei, obtain the price prediction value of commercial housing, and achieve high fitting accuracy. It has a certain guiding effect on the research of commercial housing prices in Hefei.",2.0,6975ec88fb9de4853d91bb229d0731693eafa6609,10.17230/ecos.2015.40.4,Efecto de un estadio deportivo en los precios de arrendamiento de viviendas: una aplicación de regresión ponderada geográficamente (GWR),2015,,Jorge Enrique Agudelo Torres; Gabriel Alberto Agudelo Torres; Luis Ceferino Franco Arbeláez; L. J. F. Ceballos,"Researchers have determined that real estate prices vary in continuous ways as a function of spatial characteristics. In this study we examine whether geo- graphically-weighted regression (GWR) provides different estimates of price effects around a sports stadium than more traditional regression techniques. We find that an application of GWR with hedonic prices finds that the stadi- um has a negative external effect on housing rents that extends outward 560 meters, in contrast to the positive external effect on housing rents found using a conventional estimation technique.",2.0,https://doi.org/10.17230/ecos.2015.40.477ba8bd6b03de5fed857cf21637fa470b5340bb7f,10.1108/ijhma-04-2026-0096,"Machine learning-based property price prediction in an emerging market: evidence from Islamabad, Pakistan",2026,International Journal of Housing Markets and Analysis,H. Raza,"8 9 This study develops and evaluates machine-learning (ML) models to predict residential property prices in Islamabad, Pakistan, addressing the acute information asymmetry and valuation opacity that characterize real estate markets in emerging economies. The purpose of this paper is to also offer a theoretical refinement of the hedonic pricing framework for markets characterized by within-neighborhood quality heterogeneity.10 11 12 13 A data set of 116,033 property listings was collected from an online real-estate portal. After preprocessing by including standardization of locally formatted price notations (Crore/Lakh) and heterogeneous area units (Kanal/Marla), a final sample of 59,035 records was analyzed. Six regression algorithms were trained and evaluated in Python (scikit-learn and the XGBoost package): Linear Regression, Support Vector Regression (SVR), Decision Tree, Random Forest, Gradient Boosting and Extreme Gradient Boosting (XGBoost). The best-performing model was further refined through grid-search hyperparameter optimization, and feature attribution was analyzed using both tree-split importance and Shapley Additive exPlanations (SHAP). Predictive accuracy was assessed u",1.0,14e394619e75bc279acb2dcae052f4850d38d8b154,10.5353/th_b4727800,Spatial autocorrelation and liquidity in Hong Kong’s real estate market,2010,,Chun-Wah Li,"Spatial autocorrelation is commonly found in the Hedonic Pricing model for real estate prices,1516but little attention has been paid to identify the causes behind. The primary objective of this1718research is to examine the causes of spatial autocorrelation in housing prices. Observed1920autocorrelation is often attributable to the omission of important location characteristics in the2122modelling process. Since it is practically impossible to exhaustively include all location2324characteristics, some variables may eventually be omitted, leaving spatially autocorrelated2526residuals in the Hedonic Pricing model. This thesis proposes a new source of spatial2728autocorrelation: real estate market liquidity. We hypothesize that liquidity affects the2930geographical boundary within which buyers and sellers search for price information. When the3132“immediate vicinity” of a property has few transactions, buyers and sellers may have to search3334for price information from more distant locations. Therefore, low liquidity in the vicinity of a3536property should strengthen the spatial autocorrelation of real estate prices.3738A Spatial - Liquidity Hedonic Pricing (SLHP) model is proposed to test the above hypothes",1.0,https://doi.org/10.5353/th_b4727800392d5062b633e25ceaf8877d3b26abf6c4fd403dba,10.15396/eres2012_294,Impacts of commuter rail transit on property values - The Montreal North Shore case,2012,,Jean Dubé; F. D. Rosiers; M. Thériault,"This paper looks at the impact of the commuter rail transit (CRT) system that serves the Montreal North Shore area, Quebec, Canada, on the market value of single-family houses located nearby four stations along the Montreal/Saint-JErUme route. The research rests upon a combination of hedonic modelling and spatial analysis methods used to compute a series of spatio-temporal accessibility indices by access mode to CRT (car, bus and on foot). Real estate data come from the Greater Montreal Real Estate Board (GMREB) and include 63,784 properties sold over the study area between 1992 and 2009. The data contain detailed information on sale price, asking price, date and context of sale, dwelling type, property age, building and land attributes, outbuilding attributes as well as on any renovation to the house. Information relative to location, neighbourhood and environmental characteristics of the property is also available. As for information relative to the CRT, it was provided by the Montreal Transit Agency (MTA) and deals with station location, user volumes and trip structure based on 2005 and 2008 on-board surveys. Findings suggest that the implementation of a CRT service on the Montr",1.0,https://eres.architexturez.net/system/files/pdf/eres2012_294.content.pdf40f2f2e8d4e0c68be7054271b21b3018d65c7e131c,10.20472/efc.2020.014.013,THE CALCULATION OF REGIONAL INDEX OF DWELLING PRICES IN CROATIA,2020,"Proceedings of the 14th Economics & Finance Conference, Lisbon",Tanja Slišković; Tomislav Sekur,": In the existing literature in the field of housing economics, great attention has been paid to modeling housing prices. Residential property prices are generally very important indicator as they may indicate developments in the local economy. Moreover, many existing research have proven that there is a strong interdependence of the movement of housing prices with economic developments. Therefore, different market participants (home owners, potential buyers, lessors, tenants etc.), as well as subjects from broader economic environment (banks, local government, researchers etc.) are interested in trends on housing market, and in particular in housing prices. For that reason, constant improvement of housing prices statistics is very important for all mentioned entities. In Croatia, the issue of housing prices has become topical in the last 15 years due to the turbulent developments in the domestic housing market. Generally, the indicator which is most available to the general public is average price which is published by real estate agencies and advertisers. Such indicator fails to reflect real prices movements since it encompasses the difference in quality of the offered/sold housi",1.0,http://iises.net/proceedings/15th-economics-finance-conference-lisbon/table-of-content?cid=114&iid=013&rid=13128410d749c58da0b3282e774a34a3cbd378d57ba0801,10.48264/vvsiev-20233304,The capitalization of geomantic attributes: evidence from the housing market in Guangzhou [L’effetto di capitalizzazione degli attributi geomantici sul valore di mercato degli immobili: il caso del mercato immobiliare di Guangzhou],2023,Valori e Valutazioni,Xiaojing Li; Chiara D'Alpaos; Paolo Bragolusi; Gang-Zhi Fan,"This study examines empirically the impacts of geomantic attributes on housing prices in Guangzhou. Using second-hand housing transaction data from one Guangzhou’s largest second-hand transaction agency, we construct a hedonic price model to analyze the determinants of housing purchase behavior. We find that unfavorable geomantic attributes, such as proximity to graveyard, funeral parlor, hospital, slaughterhouse, and highway, have significant negative effects on housing prices. However, favorable geomantic attribute close to the Pearl River has a significant positive impact on housing prices. Lucky floor numbers and lucky address numbers are also found to be capitalized into housing prices. Moreover, we find that the demand for housing improvement as housing purchase motivation is an important channel to determine which of geomantic attributes are unfavorable when residents have higher living requirements ll presente contributo esamina, attraverso un’analisi em- pirica, l’effetto degli attributi geomantici sui prezzi degli immobili a destinazione residenziale a Guangzhou. A partire dalle informazioni relative alle transazioni di immobili non di nuova costruzione di una delle più g",1.0,https://siev.org/wp-content/uploads/2023/07/04_LI-ET-AL.pdf42b3911e100e43278a0d85948b17dd0e029042bb65,10.12691/jgg-9-3-2,"Analysis of Spatial Factors Affecting Rental House Prices: A Case Study of Nyeri Town Constituency, Kenya",2021,Journal of Geosciences and Geomatics,E. N. Kimani; B. Kuria; M. M. Ngigi,"Rental properties transactions have steadily increased annually by 2.7% globally since 2017. For a developing country like Kenya the transactions contributes 8.1% of Kenya’s gross domestic product according to 2019 national accounts statistics as it forms the basis of basic human need, shelter. It is projected to increase to 22% by 2020 in line with Government’s ‘big four’ agenda among them affordable housing, thus attracting investors constructing both commercial and residential houses. Investors in the real estate sector use a range of methods to determine rental house prices. Diverse factors have been noted to influence rental house prices some having higher effect than others. This research endeavors to analyze the spatial factors that affect rental houses prices in Nyeri town constituency, Kenya and determine their relationship to their current respective prices. Primary data was collected from rental house owners and assigned managing estate agents via structured questionnaires distributed through purposive sampling method. Guided by literature and data collected, roads, land value, houses and population data alongside secondary data was acquired and analyzed using the spatia",1.0,https://doi.org/10.12691/jgg-9-3-2438c0982f7a40d9c8b0824d4027f942ae36a32aeea,10.32468/be.1072,Modelos hedónicos con efectos espaciales: una aproximación al cálculo de índices de precios de vivienda para Bogotá,2019,,Wilmar Alexander Cabrera-Rodríguez; Juan Sebastián Mariño-Montaña; Carlos Andrés Quicazán-Moreno,"En este documento se estima un indice de precios de vivienda nueva para la ciudad de Bogota empleando la base de datos de La Galeria Inmobiliaria, empresa dedicada a la recoleccion de informacion del mercado inmobiliario en Colombia. La metodologia de precios hedonicos aqui propuesta presenta tres ventajas con respecto a los indices de vivienda que se calculan en la actualidad para esta ciudad: i) considera que un inmueble es un bien diferenciado, cuyo precio esta definido en funcion de sus caracteristicas, ii) incorpora de manera parsimoniosa la ubicacion de las viviendas por medio de un modelo de econometria espacial, y iii) utiliza una ventana de tiempo para la estimacion del indice, haciendo que no sea susceptible a modificaciones ante incorporaciones de nuevos datos. Los resultados muestran que la bondad de ajuste del indice resultante es significativamente mayor a la de los que se producen en la actualidad, que los coeficientes presentan el comportamiento esperado y son estables en el tiempo, y que el indice es robusto a cambios en la participacion de inmuebles que se ubican en las colas de la distribucion de precios, gracias a la modelacion de vecindarios en la estimacion es",1.0,https://doi.org/10.32468/be.107244doi_10_2139_ssrn_2203679,10.2139/ssrn.2203679,Un índice de precios espacial para la vivienda urbana en Colombia: Una aplicación con métodos de emparejamiento (A Spatial Price Index for Urban Housing in Colombia: A Matching Approach),2013,,Luis Armando Galvis; Bladimir Carrillo Bermúdez,"La formulación de un índice que permita la comparación de precios de vivienda en el espacio es relevante para aspectos económicos tales como la asignación del gasto social habitacional. Desafortunadamente en el contexto colombiano no existe un índice que permita hacer comparaciones sobre los costos de la vivienda entre diferentes regiones geográficas. El presente trabajo se propone llenar vacíos existentes en este respecto. Para este efecto se emplea el método de emparejamiento PSM (por sus siglas en inglés: Propensity Score Matching), donde se simulan escenarios contrafactuales en los que se identifican viviendas de una ciudad base, en nuestro caso Bogotá, que son estadísticamente similares a las de otras ciudades. Con dicho método se busca establecer comparaciones más homogéneas entre los inmuebles de cada ciudad al evaluar el diferencial de precios. Se realizan dos ejercicios adicionales, que consisten en: (i) comparar las viviendas según rangos de precios (bajo, medio y alto) entre las ciudades empleando regresiones hedónicas por cuantiles; (ii) examinar cómo cambia la diferencia promedio de precios cuando varía la canasta de características de la unidad habitacional. Entre los",1.0,4552cbefc12720084fe56091430bf37e9fbeba96b9,10.1007/s10901-024-10144-3,Do 5G cell phone towers decrease house prices? Evidence from Warsaw,2024,Journal of Housing and the Built Environment,Bartłomiej Marona; R. Gaca; Michał Głuszak,"This study investigates the impact of telecommunication infrastructure on residential property prices in Poland. This study contributes to the discussion of economic externalities related to new public infrastructure within the urban landscape. We use hedonic regression, matching techniques, and a difference-in-differences estimator to assess the impact of base transceiver stations on apartment prices in Warsaw, the capital of Poland, which covered market data on the sales of residential premises located in Miasteczko Wilanów estate in Warsaw from 2016 to 2021. In the analysed period, 1,825 residential sales were recorded and used for econometric modelling. The results do not confirm the influence of the vicinity of the wireless communication technology infrastructure on residential real estate prices in the studied local market. In particular, we did not observe a detrimental effect of cell phone towers on housing prices. Additionally, we investigate whether residential sale prices in proximity to BTS changed significantly after the introduction of the 5G standard. This particular issue has not been addressed in the economic literature. We found that the sale prices of apartments ",1.0,https://link.springer.com/content/pdf/10.1007/s10901-024-10144-3.pdf464891d48de205d7d2d2555303eef3e46f4ecd27c0,10.66884/kesj.2025.xrbblz6e,"SMART CITY TECHNOLOGIES AND REAL ESTATE PRICINGS IN ABUJA, NIGERIA: A HEDONIC PRICING APPROACH",2025,Kaduna State University Environmental Sciences Journal,J. Sakariyau; Oluwatunmise S. Moradeyo; Taiwo Q. Yusuff; C. Dibi; R. O. Alao,"<p>47 <strong>Purpose:</strong> Limited empirical evidence exists on the effects of smart technologies on property values in African cities. This study investigates how smart city initiatives influence real estate development and property pricing in Abuja, Nigeria’s Federal Capital Territory, using a hedonic pricing regression model.48 </p>4950 <p>51 <strong>Design/methodology/approach:</strong> To achieve this aim, using a hedonic pricing regression model. The analysis utilized 1,247 property transactions and associated market data from 2020–2024. Primary data were obtained from consultations with Abuja Geographic Information Systems (AGIS) officials and real estate developers, while secondary data were sourced from major Nigerian property portals. Key smart city indicators including smart building features, digital connectivity, and proximity to technology-driven urban projects were incorporated into the model.52 </p>5354 <p>55 <strong>Findings:</strong> Findings show that smart city attributes affect property values: properties with smart features command higher prices, areas with stronger digital connectivity appreciate faster, and proximity to major smart city projects is linked to inc",1.0,5621f92e2d5d1e4c5e1599eb9eabbd0fe74e014993,10.22178/pos.40-5,Transportation Accessibility Benefit and the Dynamic Pattern of Real Estate Prices: Emerging Literature,2018,Path of Science,A. Aliyu; O. Kemiki; M. Bello,"Location preference is a repeatedly debated subject in urban land economics. By and large, these deliberations are either empirical or theoretical in nature. A sizeable number of the previous studies tackle the question of most favorable location provisional on a certain set of constrictions. Moreover, other studies are dedicated to elucidating the nature (worth) of a real property at a particular location. Nevertheless, the problem of ascertaining the indicators that influence real property price is general to both sets of studies. The current body of knowledge on the impact of transportation infrastructure on real estate prices is diverse in its outcome and result with particular reference to degree or extent of impact as well as bearing, ranging from a negative to an unimportant or a positive effect. On the literature results, multiple spatial lag variables were found to be statistically significant signifying that a number of features or attributes of adjoining residential accommodations have significant influence on the subject residential property's value. Whereas the largest part of earlier hedonic price empirical studies considered only selected factors (such as, positive a",1.0,https://pathofscience.org/index.php/ps/article/download/564/580571ee0dacc3b949b426906a8d3d2b328f93c7b14a8,10.15396/eres2012_212,Four years and counting,2012,,M. Bondar'; S. Sayce,"Four years remain to achieve the Government target that all new homes from 2016 should be built to a Code for Sustainable Homes (CSH) ezero carboni rating. Zero carbon was originally defined by a CSH level 6 rating, however following the March 2011 Budget it is now equivalent to level 5. (NHBC, 2012) Since its introduction in April 2007 less than 100 private sector registered dwellings have received a CSH Post Construction Stage level 5 or 6 rating. (DCLG, 2012) An independent report commissioned by the UK Government (Callcutt, 2007) claimed: Without [UK] Government intervention, it is unlikely that the majority of house builders -left to their own devices - would do much to deliver any form of sustainability. Unless and until house buyers are prepared to pay a premium for quality and sustainability that would make such a product cost effective, it would not be in the financial interests of any house builder to adopt such initiatives unilaterally. RICS is calling for residential property valuers to be fully aware of sustainability characteristics and consider these when undertaking valuations. (RICS, 2011) The National House Building Council (NHBC) also recommends that valuers and ",1.0,https://eres.architexturez.net/system/files/pdf/eres2012_212.content.pdf58e85224a29406de6cf31ab534d735a47d91a34eb0,10.1088/1755-1315/1314/1/012061,"Willingness to pay for flood risk mitigation among residents living near river’s confluence in Yogyakarta, Indonesia",2024,IOP Conference Series: Earth and Environment,Endah Saptutyningsih; Nursetiawan,"Both property buyers and owners are concerned about the impact of flooding on residential property price. Although several studies have investigated the possibility of property devaluation in flood-prone areas, there are still few that have looked into the effects of flooding on residential properties in Sriharjo, Imogiri, Indonesia. This study aims to examined housing characteristics such as structure, neighborhood, and environment on residential property value. We also created an interaction variable between flood and structural attributes to see whether the impact of flood inundation on property value varies depending on the age of the building, the size of the building area, and the number of bedrooms. Using the hedonic pricing model, we found that flooding reduces the market value of residential property value. The characteristics of property like land square, building square, building age, and number of rooms have influence on property price. The characteristics of neighborhoods are also influence to property price such as distance to city, distance to main road, distance to school and distance to the river. Only one environmental characteristic which influence to property pr",1.0,https://doi.org/10.1088/1755-1315/1314/1/012061597911aee0a7358c433ece355200b045eef66b508c,10.15396/eres2012_145,The impact of energy efficiency and green performance on the value of corporate real estate portfolios,2012,,Ingrid Nappi-Choulet; Aurélien Décamps,"This article investigates the impact of energy efficiency on the economic value of existing buildings in a real estate investoris portfolio. The improvement of sustainability in real estate is largely supported by a reinforced regulation and the emergence of rating systems which certifies buildings for sustainability. However, it also allowed the actors to consider the potential value of sustainable buildings. Following this, a body of research studying igreen buildingsi has emerged. The potential value of green buildings is attributed to attractiveness for occupiers and decreased risk for investors. Several empirical works demonstrate that these advantages can turn into rental premium, higher occupancy rates and thus higher asset values. These works concern mainly U.S. buildings from the CoStar database which are certified Energy-Star or LEED and use hedonic regression modelling to estimate the impact of green labels on rent and sales prices. This highlights the interest to study the potential valuation of sustainable practices for existing buildings. The aim of this article is to contribute to the growing literature on igreen buildingsi by conducting a patrimonial approach using ",1.0,https://eres.architexturez.net/system/files/pdf/eres2012_145.content.pdf60a0d0a07828e6a5525911b1d1ebfbca6c5b1d3a0f,10.22313/reik.2022.20.4.85,The Effect of AI Smart Housing Construction on Apartment Transaction Prices in Seoul,2022,Residential Environment Institute Of Korea,Yong-Kyung Cho; Young-Ho Yoon,"The AI smart housing market is expected to grow, but there is no study on the effect of the installation of AI smart housing on housing prices in terms of activation. It was attempted to demonstrate whether there is a housing price as a characteristic of a house through the hedonic model, which is most commonly used. 61The empirical data was used by combining the K-apt apartment management fee disclosure data and the apartment price and apartment characteristics data provided by Real Estate 114 Reps. According to the apartment management cost information provided by K-apt, 2,144 (12.15%) of 17,638 apartment complexes nationwide for which the AI Smart Housing maintenance fee is charged as an AI Smart Housing were installed. In the case of Seoul, an AI Smart Housing was installed in 213 (8.59%) of the total 2,479 apartment complexes. 62As a result of attaching price information to the management cost information, a total of 12,073 apartment transaction price data were used, and 1,598 pieces of AI Smart Housing installation complexes were used for the analysis. As a result of the empirical analysis, as in the general hedonic model, the house sale price per unit area was higher as the tr",1.0,630ce3fe88a1c7202d8a2a9d78f61d5b7af8475b89,10.1016/j.erss.2026.104700,Willingness-to-pay for energy efficient homes: New insights from the 2022 energy crisis in the United Kingdom,2026,Energy Research & Social Science,Yunbei Ou; Nick Bailey; D. P. McArthur; Qunshan Zhao,"Improving the energy efficiency of the housing stock is essential for decarbonising the housing sector. However, achieving large-scale improvements requires substantial private investment, underscoring the importance of housing market incentives. An extensive literature shows a positive willingness-to-pay (WTP) for housing energy efficiency. However, the methodological issue of omitted variable bias (OVB) has weakened claims of a causal effect. It is also unclear whether any WTP reflects a concern with energy costs or a more symbolic “ green ” consumption. The recent exogenous shock of the 2022 global energy crisis offers a novel opportunity to examine both. If WTP changes significantly after the energy crisis, it effectively removes OVB issues and indicates that WTP for energy efficiency is driven (at least in part) by energy cost savings. Using over 170,000 listings for second-hand house sales in Greater Manchester, UK (2017 – 24), we model WTP for energy efficiency before and after the energy crisis using multilevel hedonic regressions. We find that WTP for more energy efficient homes increased after the energy crisis, largely because the penalty for the most inefficient homes i",1.0,https://doi.org/10.1016/j.erss.2026.10470064dc3aea90996b3854e0c37cc4ba3e4298c46e3d0f,10.15611/fins.2024.2.02,Cointegration and Regression Analyses as Alternative Methods to Verify the Protective Properties of Inflation Hedge Investments,2024,Financial Sciences,Rafał Wolski,"Aim: In the face of rising inflation, a variety of financial tools are increasingly important to protect capital from loss of value. This leads to questions about which investment to choose to protect capital from loss of value. The purpose of the work was to determine whether selected investment directions on the Polish capital market can protect capital against inflation-related loss of value. Methodology: The study used a cointegration analysis using the Engle-Granger test and a regression analysis using the OLS method. The research covered the period from Q4 2008 to Q4 2022, using the bond TBSP index, Bitcoin and gold, the WIG index, the WIG Real Estate stock index and the NBP hedonic index of property prices in the seven largest cities in Poland. These investments were related to the HICP harmonised inflation index published by the European Statistical Office (EUROSTAT). Findings: The analysis revealed different results depending on the survey methodology adopted. The co-integration analysis pointed to Bitcoin as an inflation hedging investment, whereas the regression analysis pointed to gold and residential property as inflation combined. Implications: The study enables a bet",1.0,https://doi.org/10.15611/fins.2024.2.02658d72041adf1ce186d66f1aadac25faaaea043c7a,10.1093/acrefore/9780199389414.013.449,Use of Property Values and Location Decisions for Environmental Valuation,2018,Oxford Research Encyclopedia of Environmental Science,La-La Ma,"The economics literature has developed various methods to recover the values for environmental commodities. Two such methods related to revealed preference are property value hedonic models and equilibrium sorting models. These strategies employ the actual decisions that households make in the real estate market to indirectly measure household demand for environmental quality. The hedonic method decomposes the equilibrium price of a house based on the house’s structural and neighborhood/environmental characteristics to recover marginal willingness to pay (MWTP). The more recent equilibrium sorting literature estimates environmental values by combining equilibrium housing outcomes with a formal model of the residential choice process. The two predominant frameworks of empirical sorting models that have been adopted in the literature are the vertical pure characteristics model (PCM) and the random utility model (RUM). Along with assumptions on the structure of preferences, a formal model of the choice process on the demand side, and a characterization of the supply side to close the model, these sorting models can predict outcomes that allow for re-equilibration of prices and endogen",1.0,66https://openalex.org/W3108461546,10.1088/1757-899x/953/1/012057,Hedonic Pricing in the Modern Housing Market of the Novosibirsk Agglomeration,2020,IOP Conference Series Materials Science and Engineering,Yuri Yu. Kazantsev,"Abstract The paper is devoted to the search for hedonic markups for residential properties in the Novosibirsk agglomeration in 2020. Method of hedonic regression is being tested in relation to the Russian housing market, based on the experience of similar foreign studies. The object of observation is a typical housing stock, legacy of the Soviet economy and urban planning. The use of hedonic model of pricing for real estate objects is presented in the works of many foreign researchers, but they considered them in relation to local housing markets, which have their own specifics, so their experience is not applicable in Russia. Our obtained results in numerical terms are comparable with similar data of foreign colleagues. This study is methodologically based on the studies’ results of hedonic pricing, obtained by Russian scientists, using materials from the Siberian region. As a matter of fact, these studies were carried out in the early 2000s, and their results related to the early development of the real estate market in Siberia. Hedonic method was applied in the analysis of real estate prices in the Novosibirsk agglomeration in 2020, an attempt was also made to minimize the entir",1.0,https://iopscience.iop.org/article/10.1088/1757-899X/953/1/012057/pdf67129023b53e859d480f057e1aa633ff7548d6c727,10.54254/2754-1169/14/20230815,Anchoring Effect in Chinas Real Estate Market,2023,"Advances in Economics, Management and Political Sciences",Siyu Chen; Wenhao Wang; Lu-Hong Zhong,"Since the reform and opening up, China's real estate industry has prospered rapidly and has become an important force driving rapid economic growth and promoting urbanization. In recent years, China's real estate industry has entered an inflection point of development, and real estate bubbles and cyclical sharp fluctuations in the real estate market have occurred from time to time. Behavioral finance has provided a new research direction for how to explain this fluctuation. Based on this, this essay uses the classic anchoring effect theory in behavioral finance theory to study the existence and characteristics of anchoring effect in China's real estate market from the micro level, and explains the entire mechanism through three applications. The first application empirically tested the existence of the anchoring effect in China's real estate market, and analyzed the difference between the anchoring effect in the eastern and western regions of China. It verified that the decision of housing prices in the central region was affected by the anchoring effect of the micro subject, while the anchoring effect in the eastern and western regions was not significant. The second application a",1.0,https://aemps.ewapublishing.org/media/aa2b948c15574aa0a505b963feed819b.marked_3WynpOj.pdf681956ccee53765fb417ccdc3f95db189441def931,10.64711/dq21w997,Analyzing the Impact of Accessibility on Residential Property Price: A Case study of Hanoi's Central Districts,2025,Tạp chí Khoa học liên ngành và Nghệ thuật,Le Minh Son; L. T. K. Ly; Trang Thu Doan,"This research focuses on real estate values in central Hanoi, with the objective of analyzing factors influencing real estate prices, with particular emphasis on locational characteristics, for the case of Hanoi’s central districts. A geographically weighted regression (GW)R model is employed to address the limitations of traditional Hedonic Pricing Models (HPM), based on data from 1,545 properties across 12 central districts of Hanoi during the period from November 2024 to March 2025. The study evaluates the impact of 7 accessibility variables: distance to hospitals, parks, schools, universities, shopping centers, administrative offices at various levels, and the city center. Results show that the relationship between distance to public amenities and property prices varies significantly according to geographic location - a characteristic not reflected in traditional HPM models. Notably, many variables that lack statistical significance in the HPM model show differentiated impacts at specific locations in the GWR model, with higher coefficients of determination, demonstrating better explanatory power for real estate price variations. The research has demonstrated spatial heterogene",1.0,https://joisa.edu.vn/index.php/joisa/article/download/38/18691bb045dbb3876b5536dbf7babc3d8080ba59702b,10.1155/2020/5975243,"Analyzing Indicators Affecting Commercial Property Value in Metro Station Accessible Area Using Walking Time Consumption: Case of Xi'an, China",2020,Complex,Zhen Cao; Xing-Liang Liu; Bin Lei; Changjiang Liu; Lizhu Jing,"In studies investigating the property value enhancements along metro lines, study ranges in most cases are measured in Euclidean distance. However, city roads are not always straight, and Euclidean distance sometimes does not equal to actual distance the passenger travels from the public transport station to their home or a commercial spot. To solve this problem, this study analyzed the indicators affecting commercial property value in metro station accessible area in Xi’an, using walking time consumption in measuring the study range. Following a conceptual framework, considering empirical evidences in related studies, information in city structure, and metro distribution, the initial indicator set is built. Using hedonic price model (HPM), spatial autoregressive model (SAR), and error term (SEM), significant indicators affecting commercial property value are investigated. In this study, 14 significant indicators are determined and quantified. Threshold distance equals to 900 m is found to be appropriate in addressing the autocorrelation problem with the weighted decision matrix tool. Compared to HPM and SEM, SAR is found to perform the best in evaluating the significant indicators",1.0,https://downloads.hindawi.com/journals/complexity/2020/5975243.pdf70855f8c9e0508b319a7022588b7485215b722768f,10.31548/energiya5(69).2023.088,A RECURRENT NEURAL NETWORK FOR FOR REAL ESTATE PRICE ESTIMATION,2023,Energy and automation,O. Tymchuk; A. Pylypenko; Артем Кича,"The paper considers the problem of estimating the price of real estate. Automation of the solution to the specified problem is one of the methods of providing an objective assessment, which excludes such subjective factors as an arithmetic calculation error, assessment under the influence of emotions, assessment under the influence of the pursuit of one's own goals. Most often, regression analysis (hedonic regression) and machine learning methods are used to solve the problem of estimating the price of real estate. The purpose of this research is to build a model for estimating the price of real estate not only on the basis of the usual quantitative indicators (for example, area, number of rooms, floor, etc.), but also on the basis of the textual description of the real estate. In this paper we consider a real estate in new residential builings in the Kyiv. To achieve the goal, a mathematical model was developed for the classification of real estate class based on a textual description using a recurrent neural network. The model is developed as a multi-layer feed-forward neural network that accepts textual data describing a new residential building and passes it through a series of",1.0,https://journals.nubip.edu.ua/index.php/Energiya/article/download/energiya5%2869%29.2023.088/1562971https://openalex.org/W1587476646,10.22004/ag.econ.19547,Hedonic Housing Prices and Agricultural Pollution: An Empirical Investigation on Semiparametric Models,2005,RePEc: Research Papers in Economics,"Christophe Bontemps; Michel Simioni; Yves Surry; Bontemps, Christophe; Simioni, Michel; Surry, Yves R.","Many empirical studies challenged the parametric approach to estimate nonlinear house price models and to use instead nonparametric or semiparametric model specifications. In the area of environmental analysis using house price models, Stock (1991) and McMillen and Thorsen (2000) applied semi-parametric models to estimate the impact of hazardous wastes on house prices. Furthermore, estimating nonparametricaly house price models is gaining now additional momentum because Ekeland et al. (2002) provided a theoretical justification to use such an empirical approach to estimate hedonic price models. The objective of this paper is to assess the impact of agricultural pollution in a livestock intensive region of France using alternative non-parametric and semi-parametric hedonic price models. We propose a two stage estimation procedure were the first step is based on the partially linear model introduced by Robinson (1988). In the second step, once the parametric part of the model has been estimated on the house characteristics, we propose four specifications for the remaining functional form on the environmental variables. A parametric, a fully nonparametric, an additive, and a single in",1.0,http://ageconsearch.umn.edu/record/247097230bb06cf60733bf6f9bbacbca2bbc1d2e8d63b85,10.4038/ss.v51i1.4729,Construction of Residential Property Price Indices Using the Hedonic Approach: An Application to the Residential Real Estate Market in Sri Lanka,2021,Staff Studies,S. Gunawardhana,"Monitoring real estate property prices is crucial for policy makers all over the world, particularly for central banks due to their interconnections with the monetary and financial system stability of an economy. As a result, compiling property price indices has increasingly gained attention from policymakers. However, compiling property price indices is believed to be difficult due to the highly heterogeneous nature of properties, requiring reliable data sources and a methodological approach that is different to those used in compiling other price indices. Against this backdrop, this paper attempts to compile price indices for residential properties in Sri Lanka with a view to supporting policymakers to monitor the price movements in the real estate sector. Considering the relatively less heterogenous nature of condominiums and stages of the buying and selling process, price indices are first developed for advertised condominiums and new condominiums using the Hedonic Regression based Rolling Window Time Dummy method, which is identified as the most suited property price index compilation method in the Sri Lankan context. Further, internationally accepted model specification impro",1.0,https://doi.org/10.4038/ss.v51i1.4729731076844f99e9f35c7768a4e64f2c167ab26b5afd,10.64389/isp.2025.01220,Predicting Housing Prices in Riyadh: A Comparative Analysis on Machine Learning and Hedonic Regression,2025,Innovation in Statistics and Probability,Mohamed Ezzeldin; Mahmoud Abouagwa,"This study investigates the performance of hedonic regression against artificial neural networks and random forest for real estate price prediction in Riyadh, Saudi Arabia. Using data from a major property platform collected in Q3 2024, the analysis spans 2,997 residential units across five major districts. The study is situated within the context of Vision 2030 and addresses the challenges of real estate valuations in a rapidly evolving urban environment. Twelve locational and structural features were analyzed using a 70/30 training-testing split. Random Forest led with test R²=0.9065, RMSE=0.1911, MAE=0.1353, outperforming Artificial Neural Network (R²=0.8968, RMSE=0.2008, MAE=0.1450) and Hedonic Regression (R²=0.8034, RMSE=0.2673, MAE=0.1970). Random Forest feature importance: North of Riyadh (0.768659), West of Riyadh (0.612986), building type (0.180799), entrances (0.171134), size (0.127103). Random Forest and Artificial Neural Network excelled in capturing non-linear and spatial price trends in Riyadh’s housing market. This study supports the incorporation of machine learning models into workflows for predicting property prices, especially in cities like Riyadh that are quick",1.0,https://sphinxsp.org/journal/index.php/isp/article/download/20/267471a2f8a0af3e00fb77bb5a3c7e34234f9d6c71e7,10.3390/urbansci8040183,The Effect of War on Spatial Differentiation of Real Estate Values and Urban Disorder in the Damascus Metropolitan Area,2024,Urban Science,Mounir Azzam; Valerie Graw; A. Rienow,"The Syrian war, which commenced in 2011, transformed the Damascus real estate market due to heightened insecurity and tenure disputes. Using the hedonic price models, including 2411 housing transactions over the period 2010–2022, this study aims to understand the spatial dynamics of the real estate market in wartime. Our findings indicate that war variables have had a significant impact on the differentiation of property prices. Notably, property attributes have a more substantial impact on real estate values than district location, with severely damaged buildings in Damascus City resulting in an 89% decline in prices, while prices in Rural Damascus districts have decreased by 50%. Additionally, this study examines the urban texture of Damascus using correlation and homogeneity statistics derived from the gray-level co-occurrence matrix obtained from Google Earth Engine. Our findings show that correlations were highly differentiated, particularly among Rural Damascus districts, with a total decline of 87.2%. While homogeneity values decreased overall between 2015 and 2019, they improved slightly after 2019. This study guides decision makers in mitigating severe property value varia",1.0,https://doi.org/10.3390/urbansci804018375doi_10_1108_14714170810867023,10.1108/14714170810867023,"Hedonic models, internet-based technologies, and the provision of online property appraisal",2008,Construction Innovation,Stephen W.K. Mak; Lennon H.T. Choy; Winky K.O. Ho,"Purpose The objective of this paper is to propose the use of transaction data, hedonic model and internet-based technologies to provide potential home buyers and sellers with instant and online property appraisal services by real estate-related firms. Design/methodology/approach Hedonic price model is performed to estimate the price index of individual housing estate. The values of the coefficients of the attributes may change in response to a changing environment. A professional judgment should be given by appraisers on time intervals to re-run the hedonic price models, if needed. Once the algorithms have been updated, authenticated users can connect to the system via a secure socket layer. They can browse and search the valuation reports by entering search criteria of premises into the system that filters the results instantly according to the request of users, and a detailed asset valuation report will be displayed in the browser. Findings This sort of online services is believed to save consumers' time, by offering timely property appraisal services that facilitate property transactions. Originality/value Currently, local large property developers, agencies and surveying firms ",1.0,7630337b8193b6beddb917cb1fbd796d62bcc95e46,10.1108/jpif-03-2024-0037,"Multilevel modelling, location and property valuations: an application to the Italian residential market",2024,Journal of Property Investment & Finance,Gaetano Lisi; Erika Ghiraldo; David Nardelli,"PurposeThe use of statistical methods in the field of real estate appraisals presents a trade-off between the efficiency of the estimates (that would require the use of sophisticate econometric models) and the ease of the economic interpretation of the outcomes (that characterises the hedonic pricing models). This paper shows that multilevel modelling (MLM) can represent a suitable solution to this trade-off.Design/methodology/approachThis paper uses the so-called “multilevel modelling” (henceforth MLM). MLM can represent a further step forward in the use of statistical methods in property appraisals. MLM is easy to implement and the MLM estimates have a clear economic meaning. Furthermore, MLM provides more efficient estimates of hedonic prices (the prices of housing attributes) with respect to standard hedonic pricing models. Finally, MLM is particularly suitable for the housing market analysis, where the feature “location” plays a key role.FindingsFor the Italian context, characterised by many “benchmark locations” (small municipalities that share similar geographic, historic, and socioeconomic characteristics), the paper finds that multilevel modelling (MLM) is needed to correc",1.0,7747d297a585b5495e509eaba1809109caf8e80e1c,10.3390/buildings15050667,Spatiotemporal Evolution and Influencing Factors of Residential Prices in Zhengzhou,2025,Buildings,Ya-Fei Wang; Tian Cui; Wenyu Zhong; Wen-Kai Liu; Qing-Feng Hu; Bing Zhang,"The dynamic fluctuations in the real estate market significantly impact the development of the national economy. Investigating the spatiotemporal characteristics of housing prices can assist the government in formulating rational regulatory policies. Taking Zhengzhou City as the research subject, this study analyzed the spatiotemporal characteristics of housing prices based on housing price data and POI (Point of Interest) data from January 2022 to March 2024, utilizing a spatial scale of 500 m × 500 m grids. A hedonic price model and a geographically weighted regression (GWR) model were constructed to examine the mechanisms of 12 influencing factors on housing prices. The results indicate that housing prices in the eastern part of Zhengzhou are higher than those in the west, with an overall declining trend observed in Zhengzhou’s housing prices. Among the influencing factors, the age of the house exerts the greatest impact on housing prices, while finance has the least influence. The GWR model demonstrates superior fitting performance compared to the hedonic price model. The mechanisms of the influencing factors exhibit spatial heterogeneity. This study provides valuable insights ",1.0,https://doi.org/10.3390/buildings1505066778d8c5e068bdd181f5678fd59dbe595efa9c0046ec,10.21608/jur.2015.89792,Economic Dimensions of Gated Communities in Egypt,2015,Journal of Urban Research,Ahmed Shalaby; Sarah A. Elariane,"The Gated communities represent a rather new development product on the housing market in Egypt. This type of development is spreading fast since the nineties of the last century. A large number of research has been conducted on the topic of gated communities in a number of different countries. However, in Egypt, this topic needs to be more discussed and researched. Therefore the topic of gated communities in Egypt will be further explored and analyzed, focusing on the economic dimensions and the impact of such developments on the Egyptian real estate market. This study specifically focuses on the city of El Sheikh Zayed where most of the gated communities are located. The objective of this research is to identify the main factors that can influence the housing prices in Egypt in order to know in what extent the gated communities affect positively or negatively the housing price especially for those units located inside. In this sense, a comparative study is applied between the prices of gated and non-gated housing units using simple regression analysis as well as Hedonic Pricing Model, in order to understand the influence of gated communities on the value of the housing units. Thi",1.0,https://jur.journals.ekb.eg/article_89792_f1491ec5cd5ca1efe8f659bc3ec4123d.pdf79323b30d53cb25830c8397eeb95e569a5dc5a3044,10.2478/jos-2022-0004,Sub-National Spatial Price Indexes for Housing: Methodological Issues and Computation for Italy,2022,Journal of Official Statistics,Ilaria Benedetti; L. Biggeri; T. Laureti,"Abstract It is essential to measure within-country differences in housing costs in order to evaluate costs of living, assessing and comparing poverty levels, quantifying salaries and disposable income of families and finally for designing housing policies at local level. To the authors knowledge, no studies have yet been carried out on the computation of Space Price Indexes for Housing Rents (SPIHRs). In this article we computed preliminary estimates of sub-national SPIHRs by using hedonic regression model, which is an extension of the Country Product Dummy method, for all the Italian regions. The hedonic regression is generally used to obtain multilateral spatial indexes, thus allowing us to obtain multilateral SPIHRs for the Italian regions. The estimates have been done using 2017 data from the Real Estate Market Observatory which is a part of the Italian Agency of Revenue and Tax. This data source is the most comprehensive source of information on Italian houses price rents with a wide geographical coverage, including data for each Italian municipality. The obtained results show significant differences across the Italian regions, thus highlighting the importance of calculating S",1.0,https://sciendo.com/pdf/10.2478/jos-2022-0004800efab0cf4d03f7bf46b6ddeee11c4b26c02ef98d,10.1088/1755-1315/1586/1/012090,"Does Industrial air pollution reduce property value? A lesson from South Sumatra, Indonesia",2026,IOP Conference Series: Earth and Environment,Endah Saptutyningsih; Alda Diovani,"Industrial growth frequently generates externalities that impact environmental quality and local housing markets. This study examines the influence of air pollution generated by Baturaja industry on residential property values in the Baturaja District of South Sumatra, Indonesia. This research employs the Hedonic Price Method (HPM) to quantify the impact of structural, locational, and environmental variables on housing prices. Primary data were gathered from 395 families within a 4 km radius of the factory using strategic random sampling. The variables analysed encompass building area, number of rooms, ownership status, closeness to the city, distance to school, park, and concentrations of ambient sulfur dioxide (SO2) as an indicator of air pollution. Multiple regression analysis results demonstrate that air pollution exerts a statistically significant adverse impact on property values. The marginal willingness to pay (MWTP) was assessed to indicate the extent to which inhabitants are implicitly prepared to invest in enhancements to environmental quality. This study offers empirical evidence for policymakers to integrate environmental externalities into spatial planning and industr",1.0,https://doi.org/10.1088/1755-1315/1586/1/0120908109caaf09cd085f29d8f22c8f28dd86b492ec121d,10.3846/ijspm.2020.11096,"ESTABLISHING DYNAMIC IMPACT FUNCTION FOR HOUSE PRICING BASED ON SURRENDING MULTI-ATTRIBUTES: EVIDENCE FROM TAIPEI CITY, TAIWAN",2020,,Jieh-Haur Chen; Li-Ren Yang; V. T. Azzizi; Eric-Liluan Chu; Hsi-Hsien Wei,"The objective of the research is aimed for a solution that is to establish the dynamic impact function of surrounding multi-attribute for house pricing. It is also able to measure the ripple effect and allows the hedonic parameter estimates to vary from point-to-point. A comprehensive literature review is carried out to obtain an adequate theoretical basis for the corresponding hypothesis and concepts. The proposed dynamic impact function for multiattributes is then constructed based on the characteristics of surrounding facilities. Adopting the convenience sampling criteria of 95% confidence level on the data sampling and 10% limit of error in a 5−95% proportion, we collect the empirical data of 39 yearly house sales in the investigated urban areas of Taipei city focusing on housing prices and then utilize them for evaluating and adjusting the function. The actual house price and that of proposed function affected by Mass Rapid Transit (MRT) stations are analysed, resulting in the correlation coefficient at 0.946 (single attribute) and 0.944 (multi-attribute), respectively. The findings support that proposed function can highly represent the house pricing pattern and be an accurat",1.0,https://journals.vgtu.lt/index.php/IJSPM/article/download/11096/95758238e677ecc4f3e99304c53c3662cc6b1a2353f1b1,10.3368/lj.44.1.1,A Systematic Literature Review of the Economic Effects of Stormwater Best Management Practices (BMPs) on Housing Prices,2025,Landscape Journal,Boyoung Park; B. Kweon,"Abstract The growing frequency and intensity of flooding is a global challenge. Stormwater best management practices (BMPs) have emerged as promising nature‐based solutions for mitigating runoff and promoting climate change adaptation and benefits to humans that encompass environmental, social, and economic values. Despite extensive research on their environmental and social impacts, the linkages between the economic effects and associated housing sale prices remain unclear. We systematically reviewed 34 years of research, focusing on three questions: 1) How do stormwater BMPs affect housing prices? 2) What kinds of BMPs that affect housing prices have been studied over the last 34 years? 3) What other variables used in a standard hedonic pricing model contribute to the economic effects of BMPs on housing prices? Using the PRISMA approach, we reviewed articles from January 1990 to September 2024 across Google Scholar, ProQuest, and EBSCOhost search engines, narrowing down more than 20,000 studies to 33 relevant articles. The study results show that studies of BMPs (trees, detention basins, retention basins, parks, etc.) use various measurements (e.g., percent coverage, proximity) t",1.0,83ee614ea3540dfee7e7f8f87032016a28f849c4b0,10.1007/s11146-025-10032-9,Price Indices for Austrian municipalities - Hedonic models based on Microlevel Data,2025,Journal of real estate finance and economics,Sabrina-Sigrid Spiegel,"84 Austrian municipalities must re-evaluate their real estate portfolios every year. The existing Austrian house price datasets (based on the Austrian land register) cannot fully fulfill these requirements due to a lack of descriptive variables. When constructing a hedonic model, it is vital to assemble a dataset as complete as possible to minimize the extent of the omitted variables problem. This paper shows how an existing micro-level dataset can be improved and extended to raise the data’s explanatory power. Then, these data are used to compile different temporal hedonic models for the nine regional capitals of Austria. The results show that the right choice of method is essential for smaller cities with fewer transactions. For bigger cities, with more transaction data, the choice of hedonic model is less important (with all suggested model formulations giving similar results). For smaller cities, the Average Characteristics and Rolling Time Dummy hedonic methods provide good results, but the Repricing method should be avoided. Thus, it is vital to consider the data structure and number of transactions when deciding on a hedonic method for small regions (cities).",1.0,https://link.springer.com/content/pdf/10.1007/s11146-025-10032-9.pdf85356d0182e5558ca7e9b4927e59ec0ba135956af6,10.4102/jef.v8i1.82,Municipal assessments versus actual sales prices in hedonic price studies,2015,,M. du Preez; M. Sale,"In most hedonic price model studies, the actual sales price of a property is employed as the dependent variable in the parametric regression analysis. Although the use of this price is pervasive, alternatives to it do exist. One such alternative is the assessed property value, which is more readily available than the actual property price. The aim of this study is to compare implicit price estimates of property characteristics (both structural and locational) based on actual sales price data and assessed property values. To this end, a seemingly unrelated regression with two hedonic price equations is used, one which employs actual market prices as the dependent variable and the other which employs assessed values. The results show that the hypothesised influence of structural and locational housing characteristics on residential property prices is the same for assessed values, and actual market prices cannot be accepted. This finding should act as a caution for hedonic practitioners not to base their conclusions and recommendations solely on the use of assessed values in hedonic price models.",1.0,https://jefjournal.org.za/index.php/jef/article/download/82/78862b66b0c77449ab2a9ace0d183532875c2b1f79af,10.1111/roiw.70055,"Real Estate Price Measurement Since the Global Financial Crisis: Methods, Data and Policy Developments",2026,The Review of Income and Wealth,Robert J. Hill; Miriam Steurer,"87 The global financial crisis (GFC) highlighted the crucial role of real estate markets for financial stability and revealed significant weaknesses in the quality, timeliness, and coverage of real estate price indices. Since then, policymakers and statistical institutes have expanded the scope of residential and commercial real estate statistics and strengthened methodological guidance. This paper reviews key developments in real estate price measurement since the GFC, covering data availability, index methodology, and institutional infrastructure. We compare the strengths and weaknesses of the main index construction methods, including hedonic, repeat sales, hybrid and state‐space approaches, and discuss their relevance for both financial stability monitoring and cost‐of‐living measurement. Special attention is given to the challenges involved in compiling commercial real estate (CRE) price indices. We also examine new data sources—such as list prices, energy performance certificates and geospatial information—and recent work integrating machine learning tools into index compilation.",1.0,https://doi.org/10.1111/roiw.7005588bc08588bf03f532b9ec1b144163fe1f549acf683,10.36253/aestim-17865,Using a spatial econometric approach to identify the main determinants and spillover effects of residential property prices in La Spezia (Italy),2025,Aestimum,L. Giuffrida; G. Cucuzza; Daniela Tavano; Francesca Salvo; G. Signorello; M. De Salvo,"We employ a spatial econometric approach to investigate the factors influencing residential property prices in La Spezia province (Italy). Unlike traditional hedonic models, which often overlook spatial dependencies, our methodology explicitly accounts for spatial autocorrelation, thereby yielding more robust and accurate estimates. Diagnostic spatial tests reveal significant spatial dependence in both property prices and context variables. To address this, we adopt the Spatial Durbin Error Model (SDEM), using a first-order Queen contiguity weight matrix. This model not only enhances explanatory power but also improves predictive accuracy. By incorporating spatial effects, the SDEM enables the disentanglement of direct and spillover influences, offering a more comprehensive understanding of the determinants of property prices. The findings demonstrate the importance of spatially-aware models not only in the formulation of effective housing policies and urban development strategies but also in appraisal practices, where they improve the accuracy of real estate valuation.",1.0,https://oaj.fupress.net/index.php/ceset/article/download/17865/1405289758c13a836c699cd9d896f56b838bb21cbe69b43,10.1080/02673037.2023.2244908,Demand for rent-regulated apartments in the Swedish housing market,2023,Housing Studies,Mats Wilhelmsson,"Abstract We are analysing Stockholm, Sweden’s regulated rental housing market, by analysing the distribution of rental apartments based on a person’s position in the housing agency queue. Our objective is to examine queue times and estimate the demand for rent-regulated apartments, as well as the market’s income elasticity. Using the hedonic two-step approach, we use empirical data from rental contracts provided by the Stockholm Housing Agency to investigate the relationship between individual waiting times and their characteristics, such as income, age, and family composition. The empirical analysis found a strong willingness to pay for rent-regulated apartments, especially for larger homes in better locations with lower regulated rent. The demand for rental apartments increases with increasing income, but this effect is less pronounced in the current distribution system. The findings will be valuable to real estate developers, property owners, and city planners to improve policies for the rental housing market.",1.0,https://www.tandfonline.com/doi/pdf/10.1080/02673037.2023.2244908?needAccess=true&role=button90c457882224ad7235eecc5a3f2b95232d76a155e7,10.36253/aestim-17418,Unleashing the hidden green value: assessing the impact of energy certification and environmental amenities on real estate through hedonic modelling,2025,Aestimum,Carolina Bonardi Pellizzari; T. Tempesta; C. Franceschinis; Mara Thiene; D. Vecchiato,"Rapid population growth and urbanization have intensified energy demand and climate vulnerability in cities, elevating the importance of urban green spaces and energy-efficient properties, which impact real estate values. This study uses a hedonic pricing model to assess how environmental amenities and energy efficiency influence property prices. We analysed sales contracts from 2022–2023 in Padua (Italy), enriched with spatial data on key environmental factors. Findings reveal a notable price premium associated with proximity to green spaces and waterways: for each hectare of park area, properties located within 100 m experience a 5.4% price increase, while each additional 100 meters from a waterway reduces apartment value by 3.7%. Additionally, apartments in energy class A or higher command a 30% higher price per square meter with respect to other energy classes. This research offers valuable insights into how urban green spaces and energy efficiency shape real estate values in rapidly urbanizing settings.",1.0,https://oaj.fupress.net/index.php/ceset/article/download/17418/14064914aa7e3adf56ec0b7960f64d58737282681e073c6,10.2991/hsmet-19.2019.72,The price premium for properties near shopping centers: Evidence from China,2019,"Proceedings of the 4th International Conference on Humanities Science, Management and Education Technology (HSMET 2019)",Zhaosheng Zhang,"Commercial layout and location strategy is one of the key factors affecting the economic development of the city, and it is also an important basis for the citizens to make optimal decisions to purchase houses. Therefore, the main purpose of this paper is to investigate the relationship between house prices and commercial location in Xiamen in recent years. By inquiring the price data from one of the biggest real estate agency website, according to the satellite map and subject knowledge, the paper summarizes the data, establishes the hedonic pricing model, and carries on the related linear regression analysis on the basis of the model, obtains the results and makes the analysis. Finally, we can conclude that bus stops, seaside parks, shopping malls and other factors have a greater impact on housing prices, but school districts have little impact on housing prices. Most importantly, every increase in shopping center, the housing price will increase 57.93 thousand yuan.",1.0,https://doi.org/10.2991/hsmet-19.2019.72927e18b78e284165f033b0b1f190dbd13d1cba0052,10.1515/jbnst-2024-0088,Data on Repeated Offerings in the German Housing Market Based on RWI-GEO-RED,2025,Jahrbücher für Nationalökonomie und Statistik,P. Breidenbach; Lukas Hoernig; Thorben Wiebe,"Abstract This paper introduces a repeated-sales algorithm tailored for the German real estate market, addressing the lack of such data. Utilizing the dataset RWI-GEO-RED from FDZ Ruhr at RWI, which exploits data from ImmobilienScout24.de, the algorithm classifies repeat-sales and repeat-rent listings, overcoming challenges like measurement errors and deviations in property characteristics. The methodology, based on nearest centroid classification, ensures accurate clustering of similar listings. The paper compares the new repeated-sales indices with the traditional hedonic price index, revealing more conservative estimates of rent growth. Additionally, the data’s panel structure allows for detailed analysis of unit-level dynamics and mispricing. The study highlights the advantages of this approach and suggests potential research avenues, providing a valuable tool for economists and policymakers to assess housing market trends in Germany.",1.0,https://www.degruyter.com/document/doi/10.1515/jbnst-2024-0088/pdf93497dd9371af7d1b9ce0e0d5c3b0fe9dac4ef90eb,10.12660/rbfin.v9n2.2011.2899,Modelagem dos Preços de Imóveis Residenciais Paulistanos,2011,,D. C. de Oliveira Alves; Joe Akira Yoshino; Paula Carvalho Pereda; Carla Jucá Amrein,"Hedonic modeling has become a benchmark for pricing real assets with several intrinsic characteristics. This work tests also others dimensions for asset pricing: the quality of life in the housing neighborhood and macroeconomic variables. The data is about the real estate market in Sao Paulo city from January 2001 to March 2008. The main results were: the longer the maturity of mortgage financing, the larger the housing price, but decreasing interest rate spread stimulate the real estate market, and the interactions between the dummy for the boom period and either housing characteristics or bank interest rates spread show that the hedonic model loses its relative importance for pricing, while market risk variables become much more relevant. Thus, these new findings suggests that for modeling a house price index it is not sufficient to consider only average prices or a hedonic approach, but both the market and credit risks as well.",1.0,http://bibliotecadigital.fgv.br/ojs/index.php/rbfin/article/download/2899/2225949ac1b28d2aefdc731468fbf6fa61d2492689e720,10.4324/9780429503832-2,Factors Influencing,2018,Teacher Effectiveness,Marjorie E Powell; J. W. Beard,"The article examines the main factors influencing the price of three-room apartments in the housing market. The aim of the study is to conduct a quantitative analysis of the relationship between housing prices and apartment characteristics based on data from different districts of the city of Almaty. In addition, a forecast of price dynamics for the near future was developed based on the obtained results. The analysis was carried out in the Gretl software using correlation analysis and hedonic regression (OLS). The data were obtained from publicly available advertisements for the sale and rental of apartments and houses in the city of Almaty. The study is based on data from the largest metropolis of Kazakhstan – the city of Almaty. The results obtained allow for a deeper understanding of the patterns of price formation in the residential real estate segment and make it possible to assess potential changes in the market in the future. The study has practical significance for construction companies, analysts, and potential buyers. The analysis showed that the main factors affecting the price of three-room apartments are the district location, total area, and technical condition of th",1.0,952aa353f0c03f7cc4081bfb6e0d4413476f7f8e96,10.2139/ssrn.3797374,Real Estate Transaction Taxes and Credit Supply,2021,Social Science Research Network,A. Mavropoulos; M. Koetter; Philipp Marek,"We exploit staggered real estate transaction tax (RETT) hikes across German states to identify the e ect of house price changes on mortgage credit supply. Based on approximately 33 million real estate online listings, we construct a quarterly hedonic house price index (HPI) between 2008:q1 and 2017:q4, which we instrument with state-speci c RETT changes to isolate the e ect on mortgage credit supply by all local German banks. First, a RETT hike by one percentage point reduces HPI by 1.2%. This e ect is driven by listings in rural regions. Second, a 1% contraction of HPI induced by an increase in the RETT leads to a 1.4% decline in mortgage lending. This transmission of scal policy to mortgage credit supply is e ective across almost the entire bank capitalization distribution.",1.0,https://www.econstor.eu/bitstream/10419/231316/1/1749310759.pdf9673e121c361e5f5f62c862ab7e871ac4360ea1089,10.1108/jerer-07-2021-0039,Hijacking the auction – seller's or buyer's curse?,2022,Journal of European Real Estate Research,Marte Flått; J. Olaussen; A. Oust; O. Sønstebø,"PurposeThis paper aims to investigate the likelihood and price effects of auction hijacking – transactions conducted before a planned auction – in the residential real estate market.Design/methodology/approachUsing a sample of 84,203 residential properties in Oslo, Norway for the period 2007–2017, the authors employ a probit sales choice model to study the likelihood of auction hijacking and hedonic models, fixed effects models and propensity score matching to investigate the price effects.FindingsThe authors find that auction hijacking is more likely to occur in periods of higher market activity and that hijacked auction properties sell at a premium of approximately 4% compared with properties sold at regularly conducted auctions. One possible explanation for the premium could be that risk aversion among buyers leads to a higher likelihood of hijacking offers and higher prices due to the risk reduction premium that sellers can extract.Originality/valueFor most households, buying a home is an investment of great economic significance, and understanding the different aspects of the auction is paramount for both buyers and sellers. Policymakers need to be aware of the market effects ",1.0,9774fd65f55ecd2b2a2cf089bbbe1e9de41eec6c9c,10.15396/eres2019_329,Text-Based Rental Rate Predictions of Airbnb Listings,2019,26th Annual European Real Estate Society Conference,Norbert Pfeifer,"The validation of house price value remains a critical task for scientific research as well as for practitioners. The following paper investigates this challenge by integrating textual-based information contained in real estate descriptions. More specifically, we show different approaches surrounding how to integrate verbal descriptions from real estate advertisements in an automated valuation model. By using Airbnb listing data, we address the proposed methods against a traditional hedonic-based approach, where we show that a neural network-based prediction model—featuring only information from verbal descriptions—are able to outperform a traditional hedonic-based model estimated with physical attributes, such as bathrooms or/and bedrooms. We also draw attention to techniques that allow for interrelations between physical, locational, and qualitative, text-based attributes. The results strongly suggest the integration of textual information, specifically modelled in a 2-stage model architecture in which the first model (recurrent long short-term memory network) outputs a probability distribution over price classifications, which is then used along with quantitative measurements in",1.0,9853186cb8794950e5eded6c1c393152fc7871f0e6,10.2991/isss-16.2016.12,Analysis of the Effect of Xi'an Metro Line 2 on Housing Price along the Line on Different Time Points,2016,,Yu-ling Jiao,"Urban rail transit is a kind of large public infrastructure with significant economic externality, and its efficient access can improve the house price along significantly. This paper, taking Line 2 of Xi 'an metro as an example, carries on the regression analysis on the influencing factors of real estate prices on building Hedonic model from regional characteristics, neighborhood characteristics, structure features, and collecting the related data on different time. The empirical results show that the effect of urban rail transit on appreciation of the real estate is different on different time point, and the subway has network effect. Along with the increase in subway lines, the influence of a single line increases gradually.",1.0,https://www.atlantis-press.com/article/25853944.pdf9929c0373c207f8d1505773566a7ff7f8b35beb10c,10.1108/ijhma-01-2025-0018,An empirical case study on the effect of Al Aweer sewage plant odours on housing prices in Dubai’s International City,2025,International Journal of Housing Markets and Analysis,Nada Karim Abou-Gad; M. Myers; E. Aidoo,"Purpose100This study aims to investigate the impact of proximity to the Al Aweer sewage treatment plant (STP) on residential property values in Dubai’s International City. It hypothesises that properties closer to the plant experience greater value diminution due to odour emissions.101102Design/methodology/approach103The research uses traditional hedonic pricing models to analyse the impact of odour emissions on property values. Advanced machine learning techniques and spatial econometric models were considered but deemed less appropriate due to the small, homogeneous data set. The study uses a comprehensive data set of residential flats within International City.104105Findings106The results indicate a significant negative impact of odour emissions on property values. Properties closer to the STP show a marked decrease in value, highlighting the importance of environmental factors in real estate valuation.107108Originality/value109This study is unique in the United Arab Emirates, focusing on the environmental issue of odour emissions in a stigmatised area. It provides valuable insights for policymakers and real estate professionals, emphasising the need for accurate environmental impact assessments in",1.0,110a12ab3680acd1460637d1d820b06eff200f72a20,10.2139/ssrn.4636004,Round-Number Effects in Real Estate Prices: Evidence from Germany,2023,Social Science Research Network,Florian Englmaier; Andreas Roider; Lars Schlereth; Steffen Sebastian,"Round numbers affect behavior in various domains, e.g., as prominent thresholds or focal points in bargaining. In line with earlier findings, residential real estate transactions in Germany cluster at round-number prices, but there are also interesting (presumably cultural) differences. We extend our analysis to the commercial real estate market, where stakes are even higher and market participants arguably more experienced. For the same type of object, professionals cluster significantly less on round-number prices compared to non-professionals. We employ machine learning and show that transactions of family homes and condominiums at round-number prices are 2–7% above their hedonic values.",1.0,https://doi.org/10.2139/ssrn.4636004111d30f8d31523b0056e9c62b2c6a7cac6a77b89778,10.1051/matecconf/201819305041,Analysis of factors affecting Ho Chi Minh city’s office rental price using HEDONIC model,2018,,V. Le; Quynh H. Nguyen; V. Nguyen,"Research on the application of Hedonic model in analyzing factors which affect office rental price in HCM city CBD area. The author uses primary data source comprised of 146 observations collected in district 1 and district 3 during the first 6 months of 2015. By using OLS method, together with three regression models commonly used in researches on the application of Hedonic model, the result shows significant impact of factors, such as building classification, management fee, road on which the building is situated, and district location on office rental price. The result of this research can be applied in the field of real estate management, investment consulting, office rental.",1.0,https://www.matec-conferences.org/articles/matecconf/pdf/2018/52/matecconf_esci2018_05041.pdf112310f8a3e68666eaad2f9906d49200c046114ada1,10.1145/3664968.3664994,The Implications of the Legacy of the 19th Asian Games on Housing Price Dynamics: Using Transaction Big Data for Hedonic Price Model-Based Empirical Analysis,2024,2024 6th International Conference on Management Science and Industrial Engineering,Fangziyi Huang; Chao Zhou; Fengjiao Tang; Haizhen Wen,"Hosting mega sporting events is of great significance to urban development. Quantitative research on the legacies of mega sporting events through the real estate market has attracted extensive attention among scholars. Taking the 19th Asian Games as a case study, we conducted an empirical analysis of one of the newly constructed sports facilities associated with the Asian Games. With the in-depth application of big data, the study utilized data from 18,016 housing transactions in Hangzhou, China from April 2019 to August 2023. The hedonic price model, covering building, neighborhood and location characteristics, was constructed. The results indicate that linear distance close to the Asian Games Park has an impact on housing prices, varying across different distance ranges. Housing prices increase by 5.9% in the range of 3-6km away from the Asian Games facility, with a larger growth observed within a 3km radius at 17.0%. However, there is a slight decrease within 6-9km. This implies that the legacy of the Asian Games exhibits different externalities across varying distances.",1.0,1137de41ea5f998e11b3cc730af7771c0a4b73baa2f,10.22271/maths.2022.v7.i4b.849,Approach to hedonic model and analyzing factors affecting real estate prices in Hanoi,2022,International Journal of Statistics and Applied Mathematics,Nhat Hong Nguyen; Quang Duy Phung,"In real estate valuation techniques and housing market research, real estate prices are often analyzed using The Hedonic model based on factors that affect real estate prices. The Hedonic model shows the factors that affect real estate prices. The determinants of real estate prices in Hanoi in this article use 240 observations. The variables that have the greatest influence on real estate prices are the location of the property, the area of the land, the area of the house, the distance from the property to the city center, and the distance from the property to the street frontage.",1.0,https://www.mathsjournal.com/pdf/2022/vol7issue4/PartB/7-4-7-142.pdf114doi_10_1108_02637470310508662,10.1108/02637470310508662,Hedonic estimation of income multipliers,2003,Property Management,Christian T.L. Janssen,"Income multipliers are commonly used in the valuation of income streams. All income dollars, however, are not alike, and investors make distinctions based on the nature and source of the income. The income multiplier is adjusted for the characteristics of the investment. The present study deals with major apartment buildings and concerns the estimation of income multipliers from market observations. Regression analysis is used to estimate the gross and net income multipliers, as well as adjustments for differences in property features, zoning aspects, and economic conditions. The multipliers are then used in the valuation of two subject properties. An important issue is reconciling the estimates when the two multipliers lead to somewhat different values. The sample consists of high‐rise buildings in the West End area of downtown Vancouver, Canada, but the approach is general and widely applicable.",1.0,115https://openalex.org/W4399457525,10.59091/2460-9196.1746,Earthquakes and Housing Rental Prices in Urban Indonesia: A Hedonic Price Analysis,2024,Bulletin of Monetary Economics and Banking,Aloysius Gunadi Brata; Yenny Patnasari,"This paper examines the influence of earthquakes on housing rental prices in the urban areas of Indonesia. We employ the household and community data from the Indonesian Family Life Surveys (IFLS) 4 and 5 and estimate a hedonic price model of housing rental prices. We also add a set of variables representing housing attributes and a set of variables related to the community attributes. We find that current earthquakes have had a statistically significant impact on the housing rental prices, confirming the shortterm impact of the earthquakes. There is no evidence that earthquakes have long-term impacts on housing rental prices. We find that earthquakes have a short-term effect on the housing rental prices for self-owned houses only. This finding confirms that different statuses of houses respond differently to earthquake disasters.",1.0,116https://openalex.org/W2781558266,10.12677/mm.2017.76058,Influencing Factors of Housing Prices in Chengdu Based on Hedonic Pricing Theory,2017,Modern Management,霜 周,"本文应用特征价格理论分析成都市住宅价格的影响因素，首先根据文献回顾梳理出成都市的住宅特征变量，然后基于搜集到的成都市的住宅样本数据建立成都市住宅市场的特征价格模型。本文定量地研究了多个成都市住宅特征对住宅价格的影响程度，结果表明有9大住宅特征显著影响着成都市的住宅价格。 In this paper, the hedonic price model is used to explore the key influencing factors of residential prices in Chengdu. Based on the extensive literature review and the availability of actual data, we selected 22 residential characteristic variables in Chengdu and 101 valid research samples. Then, we use hedonic price model to establish regression relationship between the various features of residential housing prices, with changes in the quantity of housing characteristics to explain the price of residential. The results show that the 9 major residential features have a significant impact on the residential prices in Chengdu.",1.0,11740a400adea28e3222d175da2aec907341e4b0664,10.2495/ut110261,Validating Stated Preference Surveys through the Use of Hedonic Regression Models with an Application to Housing Prices around Transit Oriented Developments,2011,,Brett Smith; D. Olaru,,1.0,http://www.witpress.com/Secure/elibrary/papers/UT11/UT11026FU1.pdf118a9c2136ce5527532fc81a4fdfe185388198d68ad,10.1111/rsp3.12307,Where is the consumer centre? A case of St. Petersburg,2020,Regional Science Policy & Practice,K. Kholodilin; I. Koroleva; Darya Kryutchenko,"In an urban economy, the distribution of people and real estate prices depends on the location of the central business district of a city. As distance from the city centre increases, both prices and population density diminish, for travel costs increase in terms of time and money. As manufacturing gradually leaves the cities, the importance of consumer amenities as attractors of population to the urban areas increases. The role of a business centre is being replaced by the consumer centre. In this paper, we identify the location of the consumer centre of St. Petersburg — the second largest city in Russia and its former capital. For this purpose using the data from open sources in the Internet regarding the location of many different types of urban amenities, the indices of their spatial density are computed. Using the weights based on coefficients of spatial variation and survey-based weights, the individual indices are aggregated to two general centrality indices. Their unique maxima correspond to the city centre of St. Petersburg, which is located on Nevsky prospekt, between Fontanka river and Liteinyi prospekt. En una economía urbana, la distribución de las personas y de los pre",0.0,https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/rsp3.123071191d1b5c3e41712cd13ef61e1fd289406927fb1110,10.26686/wgtn.17139980.v1,Economics of disaster recovery and earthquake insurance: Five essays on New Zealand,2019,,Cuong Nguyen,"The Canterbury earthquake sequence (2010-2011) was the most devastating catastrophe in New Zealand‘s modern history. Fortunately, in 2011 New Zealand had a high insurance penetration ratio, with more than 95% of residences being insured for these earthquakes. This dissertation sheds light on the functions of disaster insurance schemes and their role in economic recovery post-earthquakes. The first chapter describes the demand and supply for earthquake insurance and provides insights about different public-private partnership earthquake insurance schemes around the world. In the second chapter, we concentrate on three public earthquake insurance schemes in California, Japan, and New Zealand. The chapter examines what would have been the outcome had the system of insurance in Christchurch been different in the aftermath of the Canterbury earthquake sequence (CES). We focus on the California Earthquake Authority insurance program, and the Japanese Earthquake Reinsurance scheme. Overall, the aggregate cost of the earthquake to the New Zealand public insurer (the Earthquake Commission) was USD 6.2 billion. If a similar-sized disaster event had occurred in Japan and California, homeown",0.0,https://openaccess.wgtn.ac.nz/articles/thesis/Economics_of_disaster_recovery_and_earthquake_insurance_Five_essays_on_New_Zealand/17139980/1/files/31695422.pdf120628b9dcff7a5fd7ed0d80bdbeab68af8df9185ba,10.1186/s13750-026-00389-6,Existing evidence on the impact of climate risk on real estate valuations: a systematic map,2026,Environmental Evidence,Tommaso Piseddu; F. Vanhuyse,"Global climate change is set to create a future where natural hazards become more catastrophic and more frequent, with impacts on real estate expected to be substantial. At the same time, the transition to a low-carbon economy is reshaping asset values, with high-emission assets becoming less attractive. We adopted a systematic map approach to assess how the impact of climate risks, i.e., physical climate risks and transition climate risks, has been assessed in the academic and grey literature related to real estate valuation, published between 2014 and 2023. The retained corpus of 130 documents was coded according to a pre-defined coding framework, covering geographic distribution, evaluation methods, the type of real estate assets and impact assessment methods. Across the 130 included documents (peer-reviewed and grey literature), the evidence base is dominated by studies that quantify physical climate risk effects on real-estate values, most often using econometric capitalization approaches (e.g., hedonic regressions, DiD, repeat-sales). The most frequently studied hazards are hydrological ones, especially coastal and fluvial floods, typically operationalized using official haza",0.0,https://link.springer.com/content/pdf/10.1186/s13750-026-00389-6.pdf12114acc857ac2d69fb28ca0dc6e4cc291e46ec0882,10.15396/eres2023_42,A methodology for local housing price index in France,2022,28th Annual European Real Estate Society Conference,Michel Baroni; Pierre Vidal; Carmelo Micciche,"Real estate accounts for 61% of France's national net wealth. Housing is the largest item of expenditure of French households. Indices that track real estate prices evolution are thus crucial instruments for decision makers of all kinds: households, investors, the scientific community, local governments, etc. Yet, the available public statistics fail to cope with the heterogeneity of the housing prices dynamics across the country. In France, Notaire-Insee indices are considered as the reference, especially because their methodology and indices are open source. Quarterly, the institute produces indices for apartments and houses in big agglomerates. With 9 indices for house prices in France, the division proposed by this methodology hides a lot of disparities. For instance, the “Province” house index includes more than 25000 cities as diverse as Toulouse (450k inhabitants) and Malroy (350 inhabitants), which represents 36% of the French housing stock. This indicator does not make it possible to highlight the differences in dynamics between cities geographically distinct and drived by different fundamentals due to different economic conditions. This work aims at producing a library of",0.0,https://eres.architexturez.net/system/files/P_20230228193744_5241.pdf1222e640676ba3b4f3213c798d84200cc2427936ec1,10.1108/jerer-11-2019-0045,Decarbonising real estate,2020,Journal of European Real Estate Research,S. Wilkinson; S. Sayce,"123Purpose124About 27 per cent of the total UK carbon emissions are attributed to residential buildings; therefore, improvements to the energy efficiency of the stock offers great potential. There are three main ways to achieve this. First is a mandatory approach, minimum energy efficiency standards are set and applied to new and existing buildings. Option 2 is voluntary, using energy ratings that classify performance to stimulate awareness and action. Third, financial measures, incentives and taxes, are applied to “nudge” behaviours. Most westernised countries have adopted a combination of Options 2 and 3, with the belief that the market will incentivize efficient properties. The belief is voluntary measures will stimulate demand, leading to value premiums. This paper aims to seek a deeper understanding of the relationship between energy efficiency and the value of residential property in Europe and, by so doing, to determine whether stronger policies are required to realise decarbonisation.125126127Design/methodology/approach128This paper reviews the current academic literature and large-scale quantitative studies conducted in Europe, mostly using hedonic pricing analysis to seek a relations",0.0,https://centaur.reading.ac.uk/89550/1/Decarbonising%20Real%20Estate-%20paper%20submitted%20rev%202%20with%20Table%20and%20amended%20references%20%20clean%20in%20landscape_%20%28002%29.pdf129cd69c19215c014ced9a1bb1de13955773bf5da11,10.3389/fbuil.2026.1819501,A multi-metric assessment of housing affordability in Jeddah with policy-scenario modeling under vision 2030,2026,Frontiers in Built Environment,S. Baesse,"130 131 Conventional housing affordability measures, such as rent-to-income ratios, support comparability but often mask transport burdens and welfare deficits across household types. This study addresses the need for a multidimensional framework that captures the full complexity of housing stress in car-dependent metropolitan contexts.132 133 134 135 We develop and apply a multi-metric affordability framework for Jeddah, Saudi Arabia, aligned with SDG 11.1 and Vision 2030 reforms. The framework integrates three lenses: (i) ratio-based housing cost overburden (40% threshold, with 30% sensitivity benchmark); (ii) residual-income (shelter poverty) diagnostics comparing post-housing income to minimum essential budgets; and (iii) Housing-plus-Transport (H+T) affordability combining housing and commuting costs (≤45% benchmark). Data are drawn from the Ejar Rental Index, GASTAT’s Real Estate Price Index (REPI), national household expenditure surveys, and institutional parameters from SAMA and the National Housing Company, all standardized to a 2025Q4 baseline. Ex-ante policy simulations evaluate financing adjustments, supply-side interventions, transport improvements, and integrated scenarios using ",0.0,https://www.frontiersin.org/journals/built-environment/articles/10.3389/fbuil.2026.1819501/pdf1363d0e5ce93e8c61889fca9eb0841b9e2bb3a70a76,10.5353/th_b4988480,An empirical study on the effects of the cross-boundary infrastructureon property market in Hong Kong,2012,,Distinction Chan,"While regional infrastructures are being actively pursued by the Hong Kong governments in recent years, the impacts brought by the cross-boundary infrastructures have not been comprehensively scrutinized. This study is aimed to fill in the research gap by examining the interrelationships between regional planning, transport planning and real estate economics. 137 138As concerns on accessibility and transport convenience are key factors determining the price of a flat, transport improvements made to the residential area should lead to an increase in residential property prices. On the other hand, as regional infrastructures are often justified with their impacts in fostering further economic development, retail rental prices in the service coverage areas should experience positive impacts. Therefore, changes in price gradient of residential properties, and that in transaction prices of commercial properties will be both taken into consideration in understanding the impacts of regional infrastructures. When examining these impacts, an additional dimension will be incorporated to investigate the impacts across the initial stage, planning stage, post-feasibility stage, construction stage a",0.0,https://doi.org/10.5353/th_b49884801394541442153fb2d18b8949cafaa5b6f2f956b3413,10.31292/wb.v6i1.285,Pengaruh risiko lingkungan pesisir terhadap harga penawaran properti residensial di Jakarta Utara,2026,Widya Bhumi,Muthi'a Sekhar Negari; Syahna Marisah; M. Saefulloh; Hardana Gading Perdana Putra; Maria Putri Paramita,"The coastal areas of North Jakarta face structural threats due to a combination of tidal flooding and land subsidence, which have the potential to affect residential property asking prices. This study aims to analyze the impact of coastal environmental risks on residential property asking prices in North Jakarta (excluding PIK) using the Hedonic Price Model (HPM) approach. The data used includes 141 observations of property asking prices sourced from the Kaggle platform and analyzed using Multiple Regression Analysis (MRA) with robust standard errors, extended with spatial econometric models (SAR and SEM). The results indicate that land subsidence is the only significant environmental risk variable, where a 1 cm/year increase in the subsidence rate reduces property asking prices by 28.32%. Conversely, the flood hazard variable showed no significant effect, suggesting limited utilization of risk information by market participants. Meanwhile, the distance to the seawall showed a significant positive coefficient, indicating that proximity to the seawall serves as a proxy for risk rather than a protection premium. These findings suggest that the real estate market tends to be more resp",0.0,https://jurnalwidyabhumi.stpn.ac.id/index.php/JWB/article/download/285/69140321020c85c887f7ad61bb8d1f09394712d8967af,10.70382/ajbegr.v8.i4.031,"Effects of Crime Rate on Residential Property Values: A Case Study of Ibadan North Local Government Area, Oyo State",2025,Journal of Built Environment and Geological Research,Ibidapo Shonibare; Akinsanya Alade Mohammed,"The relationship between crime rate and property values has become a subject of growing concern in urban studies and real estate research. In many developing cities, insecurity increasingly dictates residential mobility, investment choices, and the overall sustainability of housing markets. This study investigates the effects of crime on residential property values in Ibadan North Local Government Area (LGA), Oyo State, Nigeria. Using a mixed-method approach, the research examines how different types of crime—including burglary, theft, and armed robbery—shape the residential property market and influence both capital and rental values. Crime constitutes a significant neighborhood externality. As Gibbons (2004) noted, “crime operates as a disamenity factor, reducing the attractiveness of communities and lowering housing demand” (p. 588). In the Nigerian context, studies have highlighted how rising insecurity in urban areas has altered housing preferences and property transactions (Ajayi, 2018; Oduwaye, 2019). Drawing from these insights, this study employed a structured survey of 200 respondents, complemented with police crime records and estate market data. By integrating hedonic p",0.0,https://africanscholarpub.com/ajbegr/article/download/867/868141977cf3cb612acac340bf96b35c08a288b1674082,10.30574/ijsra.2023.8.1.0035,Artificial Intelligence-Based Forecasting of the Impact of Clean Energy Adoption on Property Values: A Systematic Review of Global Evidence,2023,International Journal of Science and Research Archive,U. K. Obinna,"The accelerating global transition towards low-carbon economies has fundamentally reshaped the role of the built environment in achieving climate mitigation objectives. Residential and commercial buildings account for a significant proportion of global energy consumption and greenhouse gas emissions, positioning clean energy adoption within property markets as both an environmental imperative and an economic concern. In recent years, governments, financial institutions, and market participants have increasingly linked energy efficiency improvements, renewable energy installations, and smart energy technologies to property value formation. However, empirical evidence on the extent, persistence, and distribution of these valuation effects remains fragmented and methodologically inconsistent. Traditional econometric approaches, particularly hedonic pricing models, have dominated this research domain but often fail to capture the non-linear, spatially heterogeneous, and temporally dynamic nature of property markets. In response, a growing body of literature has introduced artificial intelligence (AI) and machine learning techniques to enhance forecasting accuracy and interpret complex ",0.0,https://ijsra.net/sites/default/files/IJSRA-2023-0035.pdf14250bf3aceb15c317b23e85a508047a24651ec1462,10.24940/theijbm/2020/v8/i2/bm2001-063,An Application of House Sales Methodology on Turkish Real Estate,2020,International journal of business management,Bouchra Labrahmi; U. Sener,"possible to work around this problem by using regular appraisals performed by real estate professionals, instead of transaction prices. These indices of expertise are particularly important for the commercial real estate market, given limited comparability of goods and reduced number of transactions in this market. However, even if the properties that make up the index are not all traded between two index calculation dates, it remains possible to determine the evolution of a transaction index. The real estate sector is very heterogeneous in nature, which makes it difficult to have a single price approach because the price formation of different goods is influenced by intrinsic characteristics (area, number of rooms, age, etc.) and geographical location of real estate. Similarly, changes in average prices may occur due to changes in the composition of dwellings sold from one period to another and thus result in a price evolution profile that does not reflect the actual conditions of supply and demand in the real estate market. By way of illustration, the transactions may concern mainly high-end apartments during a quarter and mainly involve economic apartments in the following quart",0.0,http://www.internationaljournalcorner.com/index.php/theijbm/article/download/151426/1055541431de98f2166ef79a7affeaa8a8266a52eb67ccf80,10.15396/eres2019_242,Huff Inspired Gravity Model in Valuation of homes near Scenic lands -- A geographically weighted regression based hedonic model,2019,26th Annual European Real Estate Society Conference,Sweta Byahut; Jay Mittal,"This research uses a hedonic Price modelling framework to assess the marginal implicit price effect of conservation easements (CE) lands on single family houses in Worcester, MA. The house price premium is anticipated with the growing visual accessibility from home to conservation easements lands. The CE lands of interest here are voluntarily protected, privately owned, scenic lands and are based in the urbanized area of City of Worcester, MA. The premium, and the visual accessibility was measured using the transaction of the surrounding homes, and homes spatial relationship with the CE lands. These protected CE lands are perpetually protected with natural, historic, and scenic characteristics that are attractive to the environmental amenity seekers. The home premiums as capitalized due to the visual accessibility of protected lands was measured using a combined weighted measure of ‘view’ and ‘proximity.' This was developed using the Huff's gravity model inspired index -- Gravity Inspired Visibility Index (GIVI). First, a detailed digital elevation model (DEM) raster with all view obstructing buildings and physicals structures stitched an the topography surface was generated and th",0.0,https://eres.architexturez.net/system/files/P_20190131233916_3555.pdf1440a56ff9c5aeeb80c811f28d082785dd37d837fcc,10.15760/etd.6640,Determining the Property Value Impact of Landfills,2000,,O. G. Uba,"An abstract of the dissertation of Okwuchukwu Gerald Uba for the Doctor of Philosophy in Urban Studies presented November 5, 1993. Title: Determining the Property Value Impact of Landfills The decline in property value can be due to owner's act or exogenous act from the operation of landfills. Landfill neighbors, especially home owners, perceive landfill operation to pose environmental safety problem such as ground water contamination and methane gas leakage that could affect home value. Owners of landfills, especially those landfills that accept only dry waste (limited purpose landfill), claim that since their facilities meet the requirements of environmental regulations and the type of waste they accept could not possibly produce methane gas and leachate there is no property value impact of their facilities. Several studies have shown that landfills do not have impact on property value. However, one recent study found that a large regional landfill have impact on property value. The property value impact of a limited purpose landfill located in Portland, Oregon, was investigated in this study. Data were gathered for homes in approximately one half mile radius around the landfill ",0.0,https://pdxscholar.library.pdx.edu/cgi/viewcontent.cgi?article=5828&context=open_access_etds14523c746a3cf2275575136860a11ab1116e38d2228,10.3389/fbuil.2025.1615229,Modeling residential property prices in emerging climate-responsive urban markets: a hybrid modeling framework for Baidoa City-Somalia,2025,Frontiers in Built Environment,Mohamed Ibrahim Nor; S. N. Hussein,"This study aims to examine the determinants of residential property prices in Baidoa’s climate-responsive real estate market. It investigates both linear and non-linear interactions among key variables to enhance property valuation models and inform urban development strategies. A hybrid-methods design was adopted, integrating a hedonic regression model with an artificial neural network (ANN) framework. The analysis utilizes a stratified random sample of 118 residential properties from the Baidoa Housing Survey, capturing diverse features such as property size, number of bedrooms, proximity to the central business district (CBD), safety, age, and air quality. Model performance was evaluated using standard metrics (e.g., R2, MSE, MAE) along with diagnostic tests and 5-fold cross-validation. The hedonic regression model explained 74.2% of the variance in property prices, with key variables showing significant influences. The ANN model further reduced prediction errors by approximately 20%, effectively capturing complex non-linear relationships among the predictors. Compared to the baseline linear hedonic regression model, the ANN achieved approximately a 20% reduction in mean squared",0.0,https://www.frontiersin.org/journals/built-environment/articles/10.3389/fbuil.2025.1615229/pdf146619d089a2ea6096b80886b1ed47c916a148a570a,10.47472/ctlthym8,Impact of Urban Transit System on Housing Rents Evidences from India,2021,Proceedings of the 57th ISOCARP World Planning Congress,R. Tiwari; Jayant Singh; Navneet Kumar,"Public Transport is considered a sustainable mode of mobility, in light of lesser per capita carbon footprint; studies suggest the majority public transit users are from lower or middle income groups (Kyungsoon Wang, 2017). In order to strengthen the public transit ridership, the concept of Transit Oriented Development (TOD), featuring high density affordable residential neighbourhoods near the transit station, has been coined and implemented world over. It has been observed during literature review that proximity to transit has a positive impact on land value, while there is a mixed literature on the association between transit proximity and real estate values, there is scant literature relating transit proximity to real estate rents. As India is striving to achieve affordable housing for all by year 2025 and for achieving this goal providing self-owned housing is the biggest challenge. Therefore, recently India adopted Rental Housing Policy (RHP) which envisages promoting affordable rental housing as an alternative choice of housing. Studies found that citizens who lived in affordable rental housing belong to economically weaker sections whose primary mode of transport is public ",0.0,https://doi.org/10.47472/ctlthym81473631e6be605720050e42f5648a0b06175daa4181,10.36334/modsim.2023.chan39,An application of machine learning in real estate economics: What extra benefits could machine learning techniques provide?,2023,"MODSIM2023, 25th International Congress on Modelling and Simulation.",F. Chan; R. Schulz; Z. Zhang,": The applications of machine learning (ML) techniques in real estate practices has become popular recently. Specifically, ML techniques are often used to develop Automated valuation models (AVM), which purpose is to provide a price estimate of a particular property at a specified time. The main objective is to minimise human intervention in the process of price estimation. Apart from the users providing a set of inputs which, in the present context, would be a set of property features, the AVM would provide a price estimate without any human intervention in the estimating process. The recent literature show that such prediction process performed much better than the traditional approach. However, the presence of missing values in the data remains a major challenge in developing AVM using ML techniques. Therefore, this paper examines different approaches to handle missing values in the context of developing AVMs using various tree based algorithms. This paper has two main objectives: (i) it examines the performance of Gradient Boosting Machine (GBM) in the presence of missing values. Recent literature suggested that GBM can still provide accurate prediction in the presence of missi",0.0,https://doi.org/10.36334/modsim.2023.chan391480bb405826a305dd8418fa8a4e64a6fd058e2239a,10.1108/pm-09-2025-0133,"Assessing the impact of various factors on residential apartment prices in Cazin, Bosnia and Herzegovina",2026,Property Management,M. Karamujic; Kerim Karamujic; Esma Skrgic,"149 150 This paper aims to identify the key determinants influencing apartment prices in Cazin, the largest city in the Una-Sana Canton, one of the ten cantons within the Federation of Bosnia and Herzegovina, an entity of Bosnia and Herzegovina (BiH). The study focuses on apartment transactions recorded between 2018 and 2024. By analysing the most influential factors and understanding their interrelationships, this research seeks to provide valuable insights to a wide range of stakeholders, including government institutions, urban planners, real estate professionals, developers, educators and the general public, enabling them to make more informed decisions.151 152 153 154 Based on the reviewed literature on studies focusing on housing prices and their influence factors, the hedonic pricing model and multiple regression analysis in line with that promulgated by Rosen (1974), are the most commonly used approaches. Consequently, this research will also use the above specification to identify the relevance of selected factors in explaining variability of new apartment prices in Cazin.155 156 157 158 The results of this study indicate that the market value of apartments in Cazin is significantly influence",0.0,159ba6d3043dcfb0e7c6ad45ae35c0629afbc728c5f,10.18260/1-2--12549,An ANN Model for the Influence of Siding Materials on Single-Family Home Values,2003,,Mohammed E. Haque; A. Taibah,"The real estate valuation is a complex process considering the range of variables that are known to play a role in determining such a value. The esthetics and choice of building’s facade materials can greatly influence a homebuyer’s decision. This paper evaluated such buyer’s preferences of various siding materials by estimating the market-clearing prices determined by the buyers of single-family homes (SFHs). The study employs a comparative hedonic estimation and artificial neural network (ANN) model. The study relied on a large sample of SFHs that were sold during the period from 1997 to 2000 in College Station, Texas. The analysis was restricted to homes that are highly homogeneous in their structural attributes in order to eliminate the impact of such attributes on the home values. The main aim of this study was to develop an ANN model to determine the influence of four different siding materials on home values. Several different ANN models with different layers/slabs connections, weights, and activation functions were trained. The presented ANN Jordan-Elman Nets with logistic activation function was the best one among all other trials. It converged very rapidly to produce a ve",0.0,https://peer.asee.org/12549.pdf160c66d67cde43a7c08ecf6382350f39384039bab26,10.1108/jhrm-04-2025-0018,"Green spaces, new faces: place marketing and neighborhood change. A case study of the Atlanta Beltline",2026,Journal of Historical Research in Marketing,Morgan M. Bryant,"161 162 This study aims to examine how green space references in online real estate listings operate as signals of status and sustainability in gentrifying urban neighborhoods. It situates marketplace behavior within a longer historical trajectory of racialized urban policy, infrastructure development and economic and geographic isolation of Black communities. The study specifically positions contemporary green space marketing within the historical context of urban renewal and redevelopment policies that reshaped urban housing markets and racialized patterns of displacement. The study explores how branded versus generic green space signals influence housing prices, contributing to the displacement of long-standing residents under the guise of environmental improvement.163 164 165 166 The study uses mixed-methods of content analysis and hedonic pricing models. A sample of nearly 1,000 online real estate listings is analyzed to identify the presence of branded and generic green space language. These signals are integrated into regression models that quantify their relationship to list and sales prices. In addition, the Atlanta Beltline is incorporated as a qualitative case study of contemporary ",0.0,167b150aa7a491222e57926fd7829879b82c8d7c8d6,10.47172/2965-730x.sdgsreview.v5.n02.pe02806,The Impacts of Environmental Amenities on Rental Value of Houses and a Pathway Towards Sustainable Urban Development Align with SDG 11,2024,Journal of Lifestyle and SDGs Review,Md Abdus Sobhan; Md. Elias Hossain; Rashed Ahmed; Md. Yahia Bapari,"Objective: The objective of the study is to assess the impacts of environmental amenities on rental value of houses and formulate the pathway for sustainable urban development align with Sustainable Development Goals 11.168 169Theoretical Framework: The hedonic pricing model is an effective theoretical foundation for examining influence of environmental amenities and dis-amenities on house rental prices. It investigates how environmental factors influence house rental prices and promote sustainable urban development goals.170 171Method: The study is based on 210 primary data which are collected by random sampling survey of tenants living in Rajshahi City, Bangladesh. The hedonic regression method is used for assessing house rent determinants and willingness to pay formula is used for hedonic valuation of environmental attributes.172 173Results and Discussion: The study found four factors- income of tenant, house structure characteristics, neighborhood characteristics and environmental amenities including ventilation, open space proximity, drainage management, waterlogging and landfill by wastes which affect houses rent. In planned areas, proximity to open spaces and ventilation increases the r",0.0,https://sdgsreview.org/LifestyleJournal/article/download/2806/17561744baf2562bd296d591d5ea2c2597d62dc9b77a425,10.3390/buildings15122011,The Intangible Value of Brisbane’s Urban Megaprojects: A Property Market Analysis,2025,Buildings,Maximilian Neuger; Connie Susilawati,"This study investigated the intangible value transferred from urban megaprojects to surrounding residential property markets, focusing on Brisbane’s transformative urban regeneration projects currently in the development pipeline. The research objectives were twofold: first, to empirically investigate the dynamics of property markets influenced by urban megaprojects and second, to assess the impact of a specific case study on these markets through a longitudinal analysis of residential sales data. Drawing from environmental economics, the concept of willingness to pay (WTP) is used to quantify externalities associated with urban megaprojects. The research constructs a comprehensive dataset integrating geospatial and property-specific data. Through revealed preference methods, the intangible value transferred from mixed-use developments is identified and quantified via residential transaction prices. Utilising hedonic price modelling, this study systematically analysed residential transaction data to estimate implicit prices associated with spatial proximity to megaprojects. A comprehensive dataset integrating property-specific attributes, geospatial proximity measures, and temporal",0.0,https://www.mdpi.com/2075-5309/15/12/2011/pdf?version=1749642361175387fe0804339369bfc565f8780311edbb5b8a55f,10.61701/789881.21,Do Hotels and Mixed-Use Projects Benefit Each Other? Evidence from China,2017,ICHRIE Research Reports,Yun Zhang; C. Tang; Yunzi Zhang,"Purpose: In China, many mixed-use projects included a luxury hotel on the property. The present study aims to answer two questions: Do mixed-use projects benefit from including a hotel? Do hotels benefit from being located in a project? Design/Methodology/Approach: The present study collected a sample of 76 mixed-use projects from Sina Commercial Real Estate database (Sydc.sina.com.cn). Hotel performance data are provided by STR. A hedonic model was used to test hotels’ effect on office rents and residential unit prices in mixed-projects. A matched-subjects designed was used to analyze the effect of mixed-use projects on hotel performance. Key Findings: The analysis indicate that mixed-use projects with hotels have higher residence price, but not office rent, compared to projects without a hotel. Hotels located in a mixed-use project have higher RevPAR and ADR than their stand-alone counterparts, but there is no difference in occupancy rate. Implications for Practice: Mixed-use project developers could consider increasing the number of units in the service apartment to take advantage of the residential unit price premium. Hotels located in a mixed-use project could command a premiu",0.0,https://via.library.depaul.edu/cgi/viewcontent.cgi?article=1013&context=ichrie_rr1766ce7c805faa9dc3c6c1a842d76fd2eb70023dd21,10.36948/ijfmr.2026.v08i03.72581,From Engineering to Economics: A Theoretical Framework for Structural Quality in Property Valuation,2026,International Journal For Multidisciplinary Research,Siddharth Desai; CA Marzun Jokhi,"The question of whether structural engineering quality matters to property value has been settled in the affirmative by a broad body of interdisciplinary evidence. The more pressing challenge—and the focus of this review—is how to ensure that this relationship is properly and systematically accounted for in valuation theory and practice. Structural engineering quality encompasses design, materials, construction methods, and load performance; it is a fundamental determinant of building safety, durability, functionality, and adaptability, all of which bear directly on economic value. Yet contemporary valuation practice routinely subsumes structural considerations within broad categorical assessments such as ""construction quality"" or ""building condition,"" obscuring their specific contributions and generating potential market inefficiencies. Drawing on scholarship from real estate valuation, structural engineering, construction economics, and investment analysis across multiple international markets, this review examines the principal valuation methodologies—the comparison, income, and cost approaches, as well as emerging hedonic, machine learning, and multi-criteria decision analysis ",0.0,https://www.ijfmr.com/papers/2026/3/72581.pdf177f5e9dabb79f964a680279dbe777c736eb0d0e20c,10.37745/bjes.2013/vol14n33963,Integrating Sustainability Metrics into Property Valuation Models: Evidence from Emerging Real Estate Markets,2026,British journal of environmental sciences,Hassan Muhammad; Bilkisu Adamu Aliyu; M. A. Keffi,"The increasing global emphasis on sustainability has significant implications for the real estate sector, particularly in the context of property valuation. However, the integration of sustainability metrics into valuation practice remains limited in emerging markets such as Nigeria, where traditional methods dominate and data constraints persist. This study aims to develop and empirically test a framework for incorporating sustainability metrics into property valuation models. The study adopts a quantitative research design based on the hedonic pricing model, extended to include a composite Sustainability Index (SUS) constructed from observable property-level indicators such as energy efficiency, environmental quality, and climate resilience. Data were collected from residential property markets in Lagos, Abuja, and Port Harcourt, alongside survey responses from 160 professional valuers. Empirical analysis using Ordinary Least Squares (OLS) regression reveals that sustainability has a positive and statistically significant effect on property values. The results indicate the presence of a measurable green premium, with sustainability contributing meaningfully to price variation. Fu",0.0,https://eajournals.org/bjes/wp-content/uploads/sites/6/2026/06/Integrating-Sustainability-Metrics.pdf1786c652a62a46609d2aa5714bfca39e18aa9906521,10.1016/j.indic.2025.100879,A Hedonic Analysis of Combined Sewer Overflows (CSOs) in Northern New Jersey,2025,Environmental and Sustainability Indicators,T. Wieczerak; Pankaj Lal; P. Burli; Ben Witherell; Erik Lyttek; B. Wolde; Ava Distaso,"Significant water pollution caused by flooding due to heavy precipitation and extreme weather events such as Hurricane Sandy and similar storms of the past have become a considerable problem, and changing weather patterns and sea level rise attributable to global climate change stand to further exacerbate the issue. During heavy precipitation events, combined stormwater and untreated sewage may be diverted to adjacent water bodies, resulting in contamination and water pollution that can be harmful to human and environmental health. This contamination, especially in urbanized areas of northern New Jersey, is largely a product of discharge events from combined sewer overflows (CSOs). Though the effects of the contamination caused by polluted water discharge through CSOs has been studied by some researchers, the socio-economic aspect of these issues has not received much scientific attention. This study seeks to understand the socio-economic facets arising due to of the continued use of CSOs in Elizabeth, Newark, and Paterson by using a hedonic analysis of homes near CSOs to evaluate its detrimental effect on the price of residences in these urban areas. We use real estate and county ",0.0,https://doi.org/10.1016/j.indic.2025.10087917938cb7c07e1fde762f81e69925a9125ec2746c338,10.11361/journalcpij.54.818,Rent and Price Estimation of Real Estate with Different Data,2019,Journal of the City Planning Institute of Japan,Midori Maeda; Y. Sekimoto; T. Seto,"* 正会員 国土交通省 東北地方整備局 (Tohoku Regional Development Bureau, Ministry of Land, Infrastructure, Transport and Tourism) ** 正会員 東京大学 空間情報科学研究センター (Center for Spatial Information Science, The University of Tokyo) ***非会員 東京大学 生産技術研究所 (Institute of Industrial Science, The University of Tokyo) 1. 研究の背景と目的 近年都市部では民間企業主導の再開発事業が活発に 行われおり,一方地方部では地方活性化やコンパクトシティ の流れにより民間企業ならびに行政主導の地域開発が将 来的により一層促進され,今後多くの建築物が建設されるこ とが考えられる.そういった状況下で,建設する物件の価値 を知りたいという事業者のニーズがある.ここでの価値とは, 賃料や販売価格などといった,物件の値打ちを定量的に表 したものを意味する.また,開発計画策定にあたり地域の持 つ特徴を把握し,開発対象地の決定・開発計画の策定を行 いたいという事業者のニーズがある. 上記のニーズに対して, 全国をカバーし,可能な限りオープンで汎用的に入手可能 なデータを活用した件の賃料推定・地域指標分析システム を構築し,地域指標の分析のみならず開発物件の賃料の 推定ならびに開発による地域への影響の評価を可能にする ということを最終的な目的としている.前研究では,その初 段として,開発物件の賃料推定のための建物属性・地域属 性両方を加味したモデルの構築を行い,地域属性が賃料 に与える影響,すなわち建物が立地する地域が賃料に与え る影響を地域ポテンシャルと定義し,その可視化を行なった. 物件の価値を決定づける要因の分析には,従来ヘドニッ クアプローチが広く用いられてきた.一方で,近年オー プンデータの増加等に伴い,(Deep) Neural Network のような 学習手法も多く用いられるようになってきている .両者の 推定精度を比較する研究は数多く行われているものの,用 いるデータの量やデータの特性,パッケージの種類,被説 明変数と説明変数の関係が線形なのか否かによって推定 精度の優劣が変わるとされている 8), 9), 10), . 前研究では,At Home 社のデータ(不動産データライブラリー 戸データ 全 国データセット,以下 At Home データという)を用いて Deep Neural Network とヘドニックの比較を行い,ヘドニックよりも Deep Neural Network の推定精度が高いという結論に至った. しか",0.0,https://www.jstage.jst.go.jp/article/journalcpij/54/3/54_818/_pdf1806f546db6e05156d793927bcc98c53fd6bee19feb,10.1108/ijhma-06-2026-0180,AI-enabled smart home technologies and residential property price premiums in Malaysia: a hedonic pricing analysis,2026,International Journal of Housing Markets and Analysis,A. Adediran; S. Ajibade,"181 182 This study investigates the influence of artificial intelligence (AI)-enabled smart-home technologies on residential property prices in Malaysia using an extended hedonic pricing framework. Specifically, it examines whether the integration of AI-based features, including smart security systems, automated energy management and intelligent home-control technologies, contributes to measurable housing price premiums.183 184 185 186 Using a cross-sectional dataset of 300 residential properties (229 in regression analysis), this study employs an extended hedonic pricing model and multiple regression analysis to evaluate the influence of structural, technological and locational attributes on residential property values. In addition, subgroup comparisons across smart-home technology levels are conducted to examine variations in the pricing effects of AI-enabled smart-home features across different housing submarkets.187 188 189 190 The results show that AI adoption is positively correlated with property prices (ß = 0.154, p = 0.002–0.003 for both regression models presented in Tables 12 and 13), indicating that smart-home technology is reflected in property prices in Malaysia. Depending on specificati",0.0,191e3d7d8bea621884f41e5a5fd5d2268c394d1887d,10.3390/land15071293,Sustainable Urban Vitality Enhancement of Green View Index (GVI): A Computational Assessment Using Baidu Street View and the Spatial Hedonic Model,2026,Land,Chen-Hai Wang; Bo Zhang,"Digital street-view imagery delivers computationally enabled fine-grained quantitative perception of urban landscape, supporting the refined assessment of urban spatial quality, ecological livability, and socio-economic externalities for socio-environmental sustainability. Taking Shanghai as the research area and 500 m × 500 m grid cells as basic analytical units, this study adopts the Segformer machine learning segmentation algorithm to accurately extract visual features of urban green infrastructure from massive Baidu street-view images. Combined with visitor volume and real estate transaction data, this paper systematically explores vitality effects and sustainable economic compensation of Green View Index (GVI) via the spatial hedonic model. Multi-model comparison verifies that the double-logarithmic framework is optimal for street-view visual data. Two empirical models are constructed to eliminate multicollinearity and differentiate effects of integrated built environments and segmented visual elements. The results indicate that Shanghai’s vitality presents a polycentric agglomeration pattern, while GVI shows a scattered spatial distribution, with strong spatial correlation in",0.0,https://doi.org/10.3390/land150712931926eb244e3d7fb838ffa76d9f1fee2d64bfb83e220,10.3390/buildings16091737,Estimating View Premiums in High-Rise Residential Housing: Hedonic Evidence and Implications for Data-Driven Valuation,2026,Buildings,Philip Y. L. Wong; T. Fan; Cyrus Y. Y. Mok; J. Lai; Ye Zhao; Kinson C. C. Lo,"Residential valuation under the comparison principle requires systematic adjustment for material differences between comparable units. In high-density, high-rise housing markets, however, visual amenities such as harbour and skyline views are often treated qualitatively or implicitly embedded in comparable evidence, reducing transparency and auditability. This study examines whether view quality is systematically capitalized into transaction prices in Hong Kong and whether such premiums vary across market conditions. Using 352 secondary market transactions from six prime high-rise estates (2015–2024), we estimate hedonic models with the logarithm of price per saleable area as the dependent variable. View quality is specified as an ordered categorical variable (nil, partial, full), constructed from listing descriptions and cross-validated using map and street-view evidence. Controlling for floor level, estate age, monthly market movements proxied by the Centa-City Index (CCI), and estate fixed effects, the pooled estimates indicate that partial views command an approximate 11% premium and full views an approximate 22% premium relative to nil view, with a clear incremental premium fo",0.0,https://www.mdpi.com/2075-5309/16/9/1737/pdf?version=17773798221936ba1087eea411b2f100fdeb063e521295b5d112b,10.30880/ijscet.2024.15.01.004,Defining the Existence of Housing Submarkets for Terraced Properties in Johor Bahru,2024,International Journal of Sustainable Construction Engineering Technology,Wendy Xin; B. Burhan; Mohd Lizam Mohd Diah,"Recent research on housing submarkets over the decades and the necessity to categorise heterogeneous property markets into distinct submarkets are deemed essential in the real estate field. Housing submarkets operate based on the concept of a group of dwellings that are substantially close substitutes to one another, but are relatively poor substitutes for dwellings in different submarkets. This mechanism primarily depends on spatial variations in housing characteristics related to structure, location, and neighbourhood. Housing submarkets are vital in enhancing the precision of housing pricing and analysing the dynamic shifts in the property markets. This study aimed todefine and examine the presence of housing submarkets for the terraced properties in Johor Bahru with the Malaysian Valuation and Property Services Department (JPPH) housing transaction database. The database documented 63,036 housing transactions between2009 and 2018 with thirteen independent structural and locational housing attributes. The study also recommended an objective data-driven methodology by integrating principal component analysis (PCA) and cluster analysis to delineate housing submarkets. Resultantly,",0.0,https://publisher.uthm.edu.my/ojs/index.php/IJSCET/article/download/16099/6331/742601940ee05d9f9481ecc2f3a646c3797a59d9ebc99b29,10.54864/planarch.1856666,Residential Market Dynamics and Micro-Scale Environmental Quality: A Hedonic Assessment in Transforming Neighborhoods,2026,PLANARCH - Design and Planning Research,Hanife Vardı Topal; Mina Aslan,"This paper analyses the links between structural, locational, and micro-scale environmental features and housing prices in two transforming neighborhoods in İzmir, Türkiye: Mansuroğlu (Bayraklı) and Kazımdirik (Bornova). Neighborhood-specific hedonic price models were applied to a dataset of 120 geolocated housing listings, allowing for a comparative assessment of price determinants under different redevelopment dynamics. Micro-scale environmental quality (MSEQ) was evaluated through expert-based street audits using Google Street View and incorporated into the models as a composite indicator reflecting pedestrian-level environmental conditions. The findings indicate that housing prices are primarily influenced by structural characteristics such as floor area, building age, and number of bathrooms, as well as locational attributes, particularly being located within a gated residential complex. These results are consistent across both neighborhood models, highlighting the dominant role of physical housing attributes and redevelopment patterns in shaping market values. Although the MSEQ coefficient is positive in both cases, it is not statistically significant at conventional levels. ",0.0,https://dergipark.org.tr/en/download/article-file/5572124195e4122cbc852a2eb3164aee351201e6331c41cf75,10.24857/rgsa.v20n5-004,Urban Housing Markets as Data-Driven Innovation Systems: Hedonic Price Modeling and Digital Transformation in the Mexican Real Estate Market,2026,Revista de Gestão Social e Ambiental,G. Uribe; P. López-de-Alba; Francisco J. Villareal-Segoviano; Omar Trejoluna Puente; R. Rodríguez-Carvajal; Juan Oswaldo Robledo López; L. Castellanos,"Objective: This study aims to estimate housing listing values in a residential micro-submarket in Hermosillo, Mexico, by applying a hedonic pricing model. It seeks to understand how digital real estate platforms and data-driven systems reshape property valuation and transaction dynamics. 196 197Theoretical Framework: The research is grounded in the SPIRAL model of innovation systems. It integrates theories on urban innovation ecosystems, where interactions between academia, industry, government, and civil society are transformed by digitalization and technological change. 198 199Method: The methodology utilizes a quantitative approach, applying multiple regression techniques to analyze housing listings obtained from digital real estate platforms. The model examines structural determinants such as built area, number of bedrooms, and parking spaces. 200 201Results and Discussion: The final model demonstrates a high predictive capacity, explaining over 97% of the price variation. The discussion highlights that digital platforms are fundamentally transforming how housing values are generated and communicated within urban innovation systems. 202 203Research Implications: These findings provide insi",0.0,https://rgsa.openaccesspublications.org/rgsa/article/download/14421/84162049287fd4c8891c000158c83003a4db9e20ae9e758,10.3390/land14091707,Analysis of Apartment Prices in Ljubljana’s Post-War Housing Estates (1947–1986),2025,Land,Simon Starček; Daniel Kozelj,"This study examines the determinants of apartment prices in 17 post-WWII multi-family housing estates in Ljubljana, Slovenia, constructed between 1947 and 1986. Using 1973 verified transactions from 2020 to 2025, the analysis evaluates spatial, structural, environmental, and accessibility-related variables through a combination of statistical and machine learning techniques. A hedonic price model based on ordinary least squares (OLS) demonstrates modest explanatory power (R2 = 0.171), identifying local market reference prices, floor level, noise exposure, and window renovation as significant predictors. In contrast, seven machine learning models—Random Forest, XGBoost, and Gradient Boosting Machines (GBMs), including optimized versions—achieve notably higher predictive accuracy. The best-performing model, GBM with Randomized Search CV, explains 59.6% of price variability (R2 = 0.5957), with minimal prediction error (MAE = 0.03). Feature importance analysis confirms the dominant role of localized price references and structural indicators, while environmental and accessibility variables contribute variably. In addition, three clustering methods (Ward, k-means, and HDBSCAN) are emplo",0.0,https://www.mdpi.com/2073-445X/14/9/1707/pdf?version=1755942860205fa17b05f4156dbabb8969bf9fc74a2d9422b39ea,10.70382/ajbegr.v10i4.039,"Reimagining the Reverberation of Flooding on Rental Values of Residential Properties in Ibadan, Nigeria",2025,Journal of Built Environment and Geological Research,A. Abegunde; B. Oguntokun,"Flooding remains one of the most persistent environmental challenges confronting Nigerian cities, with Ibadan experiencing recurrent inundation that undermines housing quality and property market stability. This study examines the effects of flooding on the rental values of residential properties in Ibadan, focusing on the roles of environmental exposure, infrastructural conditions, and institutional efficiency. Drawing on a quantitative research design, data were collected through structured questionnaires administered to tenants and estate valuers across three flood-prone communities, Ogunpa, Kudeti, and Balogun. Descriptive and inferential analyses, including correlation and multiple regression, were employed to evaluate the relationships between flood exposure, governance indicators, and rental outcomes. Results revealed that flood-prone neighbourhoods experience average rent discounts of 20–28% compared to non-exposed areas, demonstrating that flood risk acts as a negative externality capitalised into rental pricing. Regression results showed that flood exposure (β = -0.416, p < 0.01) significantly depresses rent levels, while effective drainage maintenance (β = 0.312) and ins",0.0,https://africanscholarpub.com/ajbegr/article/download/953/934206a24b60ad9460cb9fa41b96ff0b04ab52acb91b10,10.15396/afres2018_125,Residential Rental Market in Ghana – Empirical Examination of Submarket Existence,2018,,E. Gavu,"Purpose – The purpose of this research is to empirically examine submarket existence based on an understanding of the residential rental housing market in Ghana.Approach – Based on literature review and market observations, we provide key concepts and an overview of the residential rental market in Ghana. Although there is a general consensus that submarket exists, empirical identification of same has employed varied methods. Based on real estate experts and stakeholder consultations, a priori delineations of submarket constructs are made based on spatial, structural and a nested approach. The existence of submarkets is tested using the Kruskal-Wallis H test and Hedonic modelling techniques.Findings – By using fieldwork data from Accra rental market, the analysis provides credence to the conceptualisation of submarkets and how to empirically test for same. It is argued that researchers should employ alternative methods to compare results in order to make far reaching conclusions.Research implications – examining the hypothesis that differential rental values exists for submarkets has implications forpolicy decisions to target submarket constructs differently to improve market matur",0.0,https://afres.architexturez.net/system/files/afres2018_125.pdf2070dd914b51d9272cc84b31b94b3bbf3133c3ba903,10.1353/jda.2022.0005,Investigating the Hedonic Housing Price Model for Lagos Residential Market,2021,Journal of Developing Areas,Olalekan Dimeji Bamiteko; Funso Sunday Ayadi; D. Oke,"ABSTRACT:The conundrum on what exactly consumers are willing to pay for when demanding for housing remains a concern in the developing world. This study investigates the hedonic housing price for Lagos residential market with a view to determine the willingness to pay for housing quality traits. The hedonic pricing model is one way through which willingness to pay is being measured. The data employed was obtained from adult residents in the urban centers of the state (Lagos Metropolitan city). Specifically, Lagos State has 20 Local Government Areas (LGAs), out of which 16 constitute the Lagos Metropolitan City. Multistage sampling technique was used to select a sample of 677 housing consumers from the population. The Ridge Regression (RR) was used to estimate the multifactorial model that formed the hedonic housing price model. This method overcomes the problem of multicollinearity in the model and produce unbiased estimates. The findings show that house type has a higher impact on the willingness to pay for a house. Flooring condition of a house is more considered by the consumers than its roofing and walling. Besides, availability of clean water is the most important variable tha",0.0,2086e83e47fe67686f424f9c68dca8dac1370a653d3,10.54254/2754-1169/94/2024ox0141,"An Empirical Analysis of the Relationship Between Shopping Malls and Surrounding Property Prices: Evidence from Xian, China",2024,"Advances in Economics, Management and Political Sciences",Ao Tan,"Shopping malls have become integral components of urban areas in China, and their influence on the local economy and real estate markets is substantial due to the country's rapid urbanisation and economic expansion. This study examines the price premium of properties in Weiyang District, Xi'an, China that are affected by their proximity to malls. The study analyses a comprehensive dataset of 10,175 transaction prices for second-hand homes in 12 administrative zones of Weiyang District from September 2017 to June 2021 based on the hedonic price model and ordinary linear regression. The findings indicate that the value of properties in proximity to local shopping malls is notably enhanced; however, this positive effect fades as the distance from the malls increases. This study addresses a research gap in the influence of shopping centres on property prices in the Weiyang District. It offers valuable insights for local urban planners, property developers, and investors. These results have the potential to enhance the value of property and optimise urban development. The research methodology includes statistical methodologies to guarantee the accuracy of the findings and stresses the n",0.0,https://www.ewadirect.com/proceedings/aemps/article/view/15069/pdf20999ca7e0e5fa67a40a7155332e806f35ec242ba91,10.3390/su18136497,"Data-Driven Green Value Assessment of Urban Real Estate: A Multimodal Intelligent Valuation Framework Integrating Image, Text, and Spatial Information",2026,Sustainability,Wen Fu; Lei Zhang,"Traditional approaches to urban real estate green value assessment rely heavily on single structured data sources. Such methods often provide limited interpretability and fail to capture multidimensional green attributes accurately. To address these limitations, this study constructs a multimodal assessment framework that integrates image, text, and spatial information. A housing price prediction model is developed based on a Multi-Layer Perceptron architecture. Results show that the proposed method is superior to traditional models (such as the Hedonic pricing model, Ridge regression, and eXtreme Gradient Boosting, as well as single-modality control models). The core evaluation metric, mean squared error, reaches 0.0505 ± 0.0021. SHapley Additive exPlanations analysis shows that the text modality provides the largest contribution to model prediction, accounting for 51.45% of the global contribution. However, this dominance reflects the model’s dependence on textual green signals rather than the establishment of causal relationships. The result may also be influenced by marketing language bias and symbolic sustainability signals. The image modality contributes 38.48%, while the spa",0.0,https://www.mdpi.com/2071-1050/18/13/6497/pdf?version=178330710121044426220a5aea85acc977020c39bf4ea5574e7fd,10.1007/s43621-026-04064-1,Environmental certification and residential apartment prices in Prague using cadastral linked market data,2026,Discover Sustainability,Jiří Máška; J. Vrbka; J. Janků,"This study examines whether environmental certification is associated with residential apartment prices in Prague. It uses 3,958 cadastral-linked apartment observations from the INEM estate database, covering legal effect dates from November 2016 to April 2026. Certification status was assigned through independently verified BREEAM, LEED and SBToolCZ sources and manually matched to apartment-level records. The empirical strategy combines descriptive comparison, stepwise hedonic regression, robustness checks, matching-based comparison, bootstrap testing, permutation testing and an additional district fixed-effect specification. Certified apartments show higher prices per square metre in descriptive and basic models. The raw model estimates a certification-related premium of 13.83%, while the basic model, controlling for apartment size, layout and transaction year, estimates 9.38%. After adding technical and qualitative controls, the premium falls to 2.62% and becomes statistically insignificant. Extended, sensitivity and district fixed-effect specifications confirm this pattern. The findings suggest that environmental certification is relevant for residential valuation as a market a",0.0,https://doi.org/10.1007/s43621-026-04064-121160dab2b77d4e852cf61dc74b2fa33452d39eee51,10.46298/cst.12122,Public transportation and real estate valuation: case study of Fès,2012,Les Cahiers scientifiques du transport,Youssef Tachfine; Ahmed Rhellou,"The aim of this paper is to assess the role of public transport in localization choices of households living in Fez, a city in the North-east of Morocco. We test if the proximity of the bus network is valued positively in the real estate (property) business prices. Based on a hedonic model applied to the market segment of ""modern Moroccan houses"", the study shows that it is possible to consider public transport as a factor enhancing the urban real estate business. More precisely, it is the quality of the public transport supply which allows such effect. An analysis of declared choices corroborated the results of the first approach. Overall, the research results foreground the role of public transport in urban planning policies.212 L'objectif de cet article est d'évaluer l’importance du transport collectif dans la localisation résidentielle des ménages de l'agglomération de Fès (ville au Nord-est du Maroc). La démarche consiste à voir si la proximité du réseau bus est valorisée positivement dans les prix immobiliers. L'étude montre qu'il est possible à partir d'un modèle hédonique portant sur le segment de marché des « maisons marocaines modernes » de considérer le transport en commun",0.0,http://cst.episciences.org/12122/pdf21387ddaebbb6eed74d30fe2116bc7301990e0fb060,10.1108/pm-04-2026-0073,Valuation of short-term rentals as income-producing residential assets: a hybrid-hedonic framework,2026,Property Management,Marcos Medeiros; Nan Hua; Peng Liu; Jorge R. Ridderstaat; M. Rivera,"214 215 This study examines whether financial performance mediates the relationship between conventional hedonic property attributes and short-term rental value, and whether short-term rentals should therefore be underwritten as hybrid income-producing residential assets rather than as ordinary housing alone.216 217 218 219 AirDNA listing-performance data were matched with Stellar MLS property and transaction records to create a property-level panel for a major destination market in Central Florida. Panel diagnostics were conducted for cross-sectional dependence, stationarity, serial correlation, heteroskedasticity and model selection, with conservative inference based on Driscoll-Kraay standard errors.220 221 222 223 Durable tangible attributes, including configuration, accessibility and leisure amenities, are associated with both revenue and sale price. Platform-facing and management-related intangible variables strongly influence financial performance, but most lose direct significance once revenue enters the value equation. A 1% increase in revenue is associated with an approximately 0.349% increase in sale price. The results, therefore, indicate partial mediation for tangible attributes and a pre",0.0,2240ea3c3fce5f230c6a53cbafac5bea9e7b12d3c49,10.21837/pm.v19i17.1015,"CONSTRUCTING HOUSING PRICE INDEX FOR TERRACED PROPERTIES IN JOHOR BAHRU, MALAYSIA",2021,PLANNING MALAYSIA,W. Lim; B. Burhan; Mohd Lizam Mohd Diah,"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 ",0.0,https://doi.org/10.21837/pm.v19i17.10152255d29469aa07e316fd484c5cb6eae321dabbe618c,10.22423/kreus.2025.17.2.87,"A Study on the Influence of Service Area on Apartment Prices: Focusing on National Housing-sized Units in Gangnam, Seocho, Songpa, and the Second-phase New Towns in 2023",2025,Konkuk Research Institute of Real Estate and Urban Studies,Minhyuk Choi; Seung-Han Ro; Jong-Hyun Park,"In the domestic apartment market, additional free space has long been a factor that has increased consumer preference. Since the emergence of the national housing size (with an area of exclusive use space of 85m or less) in the 1970s, consumers have overcome the limitations 2 of the area of small and medium-sized housing through additional free space. In addition, since the legalization of balcony expansion in 2005, additional free space has become larger and appeared in various forms. additional free space has various issues that cover the institutional and industrial aspects of the domestic apartment market, but there is a lack of research linking additional free space to real estate value. Therefore, this study conducted an empirical analysis of the impact of additional free space on apartment prices. 226We selected 12 apartment complexes in the three of Gangnam districts and the second phase of new towns that were supplied after 2005, and After securing floor plans of an apartment with an area of exclusive use space of 85m or less, the additional free space was calculated 2 using the AutoCAD program. Linear regression analysis was conducted using Hedonic price models for 790 tran",0.0,2278c496f55f91e146b2962537e0a46d9ea83e20970,10.1108/ijhma-09-2022-0142,Development risk and unit size within the UK property market,2022,International Journal of Housing Markets and Analysis,Cassandra Moore,"228Purpose229This paper aims to explore the relationship between market pricing and design quality within the development industry. Currently, there is a lack of research that examines real estate at the property level. Development quality is widely believed to have diminished over the past decades, while many investors seem uninterested in the design process. The study aims to address these issues through a pricing model that integrates design attributes. It is hoped that empirical findings will invite broader stakeholder interest in the design process.230231232Design/methodology/approach233The research establishes a framework for assessing spatial compliance across residential developments within London. Compliance is assessed across ten boroughs, with technical space guidelines used as a proxy for design quality. Transaction prices and spatial assessments are aligned within a hedonic pricing model. Empirical findings are used to establish whether undermining spatial standards presents a significant development risk.234235236Findings237Findings suggest a relationship between sale time and unit size, with “compliant” units typically transacting earlier than “non-compliant” units. Almost half of the 1",0.0,2385daebbd8a0184c5c9466ba6f122cd075b81067f2,10.54254/2754-1169/2024.ga18958,Analysing Melbourne's Property Market Dynamics: A Hedonic Price Prediction Approach Using Real Estate Data,2024,"Advances in Economics, Management and Political Sciences",Xinyi Zhao,"In this article, Melbourne housing prices of existing homes are analysed with focus on many factors which affect property prices. Such factors include existence of spatial characteristics, type of property, mode of sale. By use of the data set, the research identifies broad findings relating to housing market. Such knowledge includes: seclusion of the detached houses, the role of number of rooms, and the role of the size of the land in determining the price. Thus, existence and distribution of these elements in relation to property prices may be revealed by regression analysis, which also shows main predictors and temporal tendencies within this process. The analysis offers insights into housing processes and challenges perceived by those interested in owning a home in the context of persisting growth of urbanization. The study admits its weaknesses, for example that it focused on Melbourne and only used data from the past even though this work makes a huge contribution towards understanding the housing market in Melbourne. Recommendations for future study are also made, with a stress on the fact that the range of variables must be expanded, the social consequences should be analys",0.0,https://www.ewadirect.com/proceedings/aemps/article/view/18958/pdf239de011ea262dd3008c96179205bb5c6159c58b619,10.31357/fmscmst.2014.00200,Determinants of Urban Middle Income Housing Prices: A Hedonic Regression Analysis,2020,,A.B.C.S. Ariyasena,"In real estate housing valuation, determination of housing value supported on sales comparison approach for similar housing in a particular market area remains the most widely used method. Given this situation, the hedonic model should be seen as a solution to improve the quality of assessments, as it determines the price of housing according to the observable values of their different attributes. This dissertation aims to assess the determinants of urban middle income housing prices and finally develop real estate price indexes for urban middle income housing prices in Kurunegala Municiple council area. Two no of urban housing schemes named as Millennium City & Viltherea Uyana consist with total no of 284 housing units sold during the period of 2002-20 12 and 122 no of housing units from Millennium City and 85 no of housing units from Vilthera Uyana, selected as the sample for this study 16 no of variables in total, Quantitative variables are plot area, house area, age of house units, number of bedrooms, and number of bathrooms, distance from nearest bus stop, distance from nearest town/ shopping centers, distance to entertainment facility, distance to quality of public schools, d",0.0,http://dr.lib.sjp.ac.lk/bitstream/123456789/4282/5/Determinants%20of%20urban%20middle%20income%20housing%20prices%20A%20Hedonic%20Regression%20Analysis%20-Case%20study%20in%20Kurunegala%20municipal%20council%20area-001-015.pdf24005df8a34609fa80750624e30241909fab325fae0,10.3390/urbansci10020108,Real Estate Trends and 15-Min Cities: A Scoping Review and Spatial–Economic Framework,2026,Urban Science,Nikolaos Karanikolas; Eleni Kyriakidou,"The 15-min city (15 MC) is an urban planning concept that organizes cities through proximity-based systems, enabling residents to access essential services within a 15-min walk or cycle. Although the health and environmental benefits of this model are well documented, its effects on the real estate market have received limited attention. This paper examines the impact of 15-min proximity-based urban planning models on land use patterns, property values, and sociospatial interactions in urban settings. It adopts a scoping review approach (structured mapping and synthesis of the available literature) and, using a transparent source selection process (PRISMA-ScR), compiles evidence on how functional accessibility, mixed uses, and proximity to green/public spaces affect prices and rents in residential and/or commercial real estate. The synthesis shows that proximity is often capitalized as a proximity premium, but it can exacerbate inequalities and displacement risks without accompanying regulatory mechanisms. Based on the findings, an operational spatial–economic framework is proposed that links (a) planning interventions, (b) functional accessibility, (c) behavioral adaptation, (d) m",0.0,https://www.mdpi.com/2413-8851/10/2/108/pdf?version=17707327912411894762059099f3103517f1aaece0879f741b699,10.22004/ag.econ.197921,Incentives for local authorities to supply environmental benefits through afforestation.,2004,AgEcon search,S. Anthon; B. Thorsen,"In 1989 the Danish Parliament announced it an official goal of the forest policy to double the Danish forest area in 60-100 years. One of the goals of this policy was to improve the recreational possibilities for the urban population. Therefore focus has been on furthering public afforestation projects close to cities with little forestry nearby. We know from previous research that mature urban forests possess significant amenity values for urban areas; the question is whether the same holds for afforestation projects? Thus the aim of this analysis is to examine the inhabitants' willingness to pay for proximity to urban afforestation projects. We use a hedonic pricing approach to estimate the willingness too pay for the environmental benefits related to the proximity for two afforestation projects Bakkely Forest and True Forest. The model used enables us to calculate the WTP for each house depending on the distance from th eforest and the total WTP for the two areas. The study also examines the impact of the observed raise in house prices on the property taxes that the inhabitants pay. As the property tax depends on the value of the house, higher prices. This increase in the tax bu",0.0,https://ageconsearch.umn.edu/record/197921/files/Pages%20from%20Pages%20from%20SSFE-2004-11-1.pdf242756500e0e0865a14c1f90982057105046ada0c6c,10.46914/1562-2959-2026-1-1-395-408,Analysis of the main factors influencing price changes in the housing market in the construction sector (on the example of the city of Almaty),2026,"Bulletin of ""Turan"" University",Zh. A. Mekebaeva; N. A. Mekebaeva; I. V. Anayatova,"The article examines the main factors influencing the price of three-room apartments in the housing market. The aim of the study is to conduct a quantitative analysis of the relationship between housing prices and apartment characteristics based on data from different districts of the city of Almaty. In addition, a forecast of price dynamics for the near future was developed based on the obtained results. The analysis was carried out in the Gretl software using correlation analysis and hedonic regression (OLS). The data were obtained from publicly available advertisements for the sale and rental of apartments and houses in the city of Almaty. The study is based on data from the largest metropolis of Kazakhstan – the city of Almaty. The results obtained allow for a deeper understanding of the patterns of price formation in the residential real estate segment and make it possible to assess potential changes in the market in the future. The study has practical significance for construction companies, analysts, and potential buyers. The analysis showed that the main factors affecting the price of three-room apartments are the district location, total area, and technical condition of th",0.0,https://vestnik.turan-edu.kz/jour/article/download/5237/194124382263ed2d98321bcd6d784602e16a5bd6a9511cf,10.1108/ijhma-05-2026-0143,"Greening the city, shifting the market: a spatial econometric analysis of sustainable urban development and housing prices",2026,International Journal of Housing Markets and Analysis,Aditi Dahiya; Madhu Bala Kaushik,"244 245 This study aims to examine the spatial relationship between sustainable urban development and housing prices across 120 metropolitan statistical areas (MSAs) in 28 countries, 2010–2023.246 247 248 249 Grounded in hedonic pricing, urban land-use and spatial dependence theory, a composite Green Urban Development Index (GUDI) is built via principal component analysis (PCA) across five sustainability dimensions. Spatial lag and spatial error models are estimated by quasi-maximum likelihood within a spatial panel framework, complemented by geographically weighted regression (GWR) on a 42-city subsample and two-stage least squares (2SLS).250 251 252 253 A ten-point GUDI increase is associated with an 11.8%–12.7% rise in median housing prices (spatial lag model ß = 0.118***; 2SLS ß = 0.118–0.127***), consistent with a causal interpretation once spatial dependence and endogeneity are addressed. Ordinary least squares estimates (0.142***) are 14%–21% higher, consistent with upward endogeneity bias. Housing prices show strong spatial dependence (Moran’s I = 0.61, p < 0.01), with GWR estimates indicating stronger effects in denser, higher-income areas; diagnostics confirm robustness across specifications",0.0,254a3da79e0a80da4f78cebc0b590728d497b694fa2,10.4197/env.2-1.3,"Hybrid Geoinformatic-Statistical Analysis for Assessing Single-Family-Home Values: The Case of College Station, Texas",2004,,A. Taibah; M. Sharkawy,"This study investigates the impact of certain residential development elements on the value of single-family homes (SFH) within an urban setting. Development elements such as gatedness, level of amenity, and size and proximity of nearest city-park were investigated. Appraisals of SFH in the City of College Station, Texas; and market values and other SFH's multiple listing services data for approximately 1326 randomly distributed SFH's are utilized as the database for this study. The methodology of this research integrates traditional econometric techniques used in value analysis, namely the hedonic price function, with cutting edge geoinformatic technology. Automated spatial analy- sis tools offered efficient and accurate generation, validation, manip- ulation, and assessment of development variables. Furthermore, resolution of spatial autocorrelation encountered in statistical analysis was facilitated using residual mapping processes along with tradi- tional residual plots and other statistical remedies. Findings indicate that the power of the hybrid geoinformatic- statistical model in analyzing, explaining, and presenting change in real estate value is significant. Furthermore, f",0.0,https://doi.org/10.4197/env.2-1.3255https://openalex.org/W633016748,10.31390/gradschool_disstheses.4995,Biased Estimation in the Context of the Hedonic Pricing Model for Housing.,1990,,"Knight, John Ross","This dissertation compares eight biased estimators as alternatives to Ordinary Least Squares estimation in the context of predicting residential real estate prices. It considers ridge rule estimation and principal components regressions, techniques that have previously been proposed for this application. It also introduces the use of Stein-like rules for predicting housing prices. The study examines relative performance of these estimators in three data settings and under four separate assumptions regarding loss criteria. The first test of the estimators uses Multiple Listing Service (MLS) data for Baton Rouge, Louisiana between 1984 and 1989 to examine relative predictive effectiveness in a time series framework with highly descriptive data. Next, American Housing Survey (AHS) data for six metropolitan areas is employed to compare the estimators in a cross-sectional context with the type of data typically used to create housing price indexes. Finally, the AHS data is used as the basis for a Monte Carlo experiment that compares estimator performance in numerically simulated repeated samples. The partitioned Stein-like estimators do well in all three data environments. Two of them p",0.0,https://repository.lsu.edu/cgi/viewcontent.cgi?article=5994&context=gradschool_disstheses256528fb65c8e80d2bdc0945ad2ef880219da734d81,10.4236/cus.2022.101007,Losses of Residential Utility from Budget Constraints on Preferences for Homes,2022,Current Urban Studies,A. Phipps,"Budget-constrained residential preferences differ from unconstrained residential preferences if residents mentally devalue unaffordable attributes’ levels of available homes in comparison with affordable ones. Budget-constrained and unconstrained utilities of 70 recent-mover respondents in Saskatoon SK in 1987 and 74 inner-city respondents in Windsor ON in 2020 are quantified for 12 generic attributes of homes in conjoint choice experiments. Budget constraints on their utilities for homes’ attributes’ levels are operationalized by superimposing marginal implicit prices from a hedonic housing price model in each city. Residential utilities are then statistically compared both through time and for subsamples within full samples, and losses of utility are predicted. Respondents will experience an approximate one-quarter and onetenth loss of possible utility for a home in Saskatoon and Windsor, respectively, if they cannot afford their unconstrained most preferred attributes’ levels. Losses of utility are predicted even though budget-constrained utilities of subsamples of respondents are higher as hypothesized for affordable levels of four attributes, and lower for unaffordable levels ",0.0,http://www.scirp.org/journal/PaperDownload.aspx?paperID=1159782570c140f91207eb07cdee5cbd55e6ead95b3df0eeb,10.14569/ijacsa.2026.0170630,A Computational Analysis of Housing Affordability: Robust Bootstrap Regression Modeling of the Safety Premium,2026,International Journal of Advanced Computer Science and Applications,N. Terterashvili; Shota Shaburishvili,"This study presents a methodologically rigorous and in-depth analysis of the socio-institutional determinants of housing affordability in nine EU Member States and Georgia over the period 2013-2023. The study transcends conventional macroeconomic models to identify and quantify the impact of non-financial indicators on the Price-to-Income ratio as the dependent variable. The study uses bootstrap regression with 1000 iterations, ensuring the stability of the coefficients and responding to the difficulties of data distribution in both transition and developed economies (unbalanced panel data, sample size of 89). Empirical results demonstrate a high explanatory power of the model (R-squared value of 0.670), where the Safety Index was identified as the main and most important driving factor of value formation (beta coefficient of 0.312, p-value of 0.007). The conclusion that institutional safety functions as a ""nonfinancial capital"" that exhibits a strong predictive association with the volatility of real estate prices is significant. The research findings also indicate a paradigm shift in real estate valuation, validating the ""safety premium"" and supporting the Hedonic Pricing Theory.",0.0,https://thesai.org/Downloads/Volume17No6/Paper_30-A_Computational_Analysis_of_Housing_Affordability.pdf258bc61eed85a1f0763d6b1e4a652d53527ec0df858,10.15396/eres2019_190,"Determinants of time-on-the-market in a changing real estate environment – The relationship between housing demand, demographic change and liquidity",2019,26th Annual European Real Estate Society Conference,S. Bienert; Joseph-Alexander Zeitler,"Demographic change has direct and indirect impact on the development and size of households and their housing demand. Households are becoming much smaller on average. Overall, the proportion of one- and two-person households will continue to rise. In 2040, four out of ten people, or more than a third, will live alone or in pairs. Due to the lack of appropriate apartments, this trend will have impact on the liquidity of apartments. On the other hand, there will be a surplus of larger apartments, which will become less attractive. This is also partly due to the enormous increase in rents in agglomeration areas. In addition to this, the single households will demand less space, even though living space has absolutely increased. In this respect, the present study tries to analyse the interrelationships between changes in household size and housing demand on liquidity of residential apartments, both for sale and rent. The research question therefore is, whether the change in population structure or housing preferences has an influence on the Time-on-Market (ToM) of real estate. There is no explicit model that incorporates both housing demand (choice of apartment type) and demographic va",0.0,2596f0e6cff813df124f7000a3c9c8798332e6640fa,10.35808/ersj/2266,Drivers of Subregional Housing Markets in Poland,2021,EUROPEAN RESEARCH STUDIES JOURNAL,I. Rącka,"Purpose: The paper investigates how sustainable city development factors impact housing price levels in subregional cities, on basis of 14 thousand real transactions in three Polish cities in the years 2006–2014. Design/Methodology/Approach: The multiple regression analysis with hedonic approach was used. Findings: The three-equation model has proven that economic development factors affect housing price levels in subregional cities while social progress and environmental responsibility do not always explain the change in the housing prices. Additionally the analysis of data allowed to conclude that the smaller the local market is, the more it is responsive to changes in external conditions. Practical implications: The housing market in subregional cities is different to big cities, prices change slower and do not respond to changes in the macro-environment factors as quickly and strongly as in large cities. Moreover, the situation on the local housing markets depends largely on the scale of sustainable development of the city. The study outcomes can be readily used to help more accurately plan housing investments for real estate developers or planning authorities responsible for h",0.0,https://ersj.eu/journal/2266/download/Drivers+of+Subregional+Housing+Markets+in+Poland.pdf26022dc044479a95275f6f2325fa7e8607573cf3d5d,10.22423/kreus.2022.15.1.91,The Effect of Housing Market Consumer Index and Trends of Sales Price Index on the Auction Bid Price Ratio of Apartments,2022,Konkuk Research Institute of Real Estate and Urban Studies,Jin-young Lim; Seon-Jong Yoo; Bo-yeon Shin; E. Shin,"The housing market consumer index, the trends of sales price index and the auction bid price ratio are used as indicators to judge and the real estate market. Whereas there have been several studies that analyzed the relationship between the auction bid price ratio and the housing market consumer index, studies on the trends of sales price index are insufficient. This study examined the determinants of the auction bid price ratio in apartment auctions, and through empirical analysis with the housing market consumer index and the trends of sales price index, it tried to find out how the two indices affect the real estate auction market. The study set the time scope to 6 years between January, 2015 and December, 2020 and the space scope to Gangnam-gu, Seocho-gu, and Songpa-gu of Seoul. Independent variables were set as housing market, auction, local, location, article, and time of a successful bid. The analysis method used multiple linear regression analysis using a hedonic price model. As a result of analysis, it was found that the housing market consumer index and the trends of sales price index have a positive effect on the auction bid price ratio. Moreover, the failure in bidding",0.0,2617bcf68b7c5d0e04903d6fc14d33be2cf62dfb387,10.1088/1742-6596/1616/1/012028,"Analysis of the Impacts of Urban Public Transport on the Housing Price in Hangzhou, China",2020,Journal of Physics: Conference Series,Feiyang Wei; Dong-Ling Zhang; Hai-Zhen Wen,"With the rapid increase of urban population, housing demand is gradually increasing, and traffic congestion is becoming more and more serious. People are increasingly concerned about the relationship between housing and public transportation. Hence, studying the impact of public transport on housing prices will be conducive to promoting the coordinated development of urban public transport and urban social economy. Taking Hangzhou, China as a case city, this study selected 477 residential districts and their surrounding comprehensive public transport characteristics to construct the hedonic price model, and further quantitatively analyses the impact of urban public transport on housing prices. The empirical results showed that most of the public transport characteristics produce significant premium capacity to the housing market. The ranking of the premium capacity from high to low is the distance between the community to the subway station, the speed of nearby roads, and the number of public bicycle stations. In addition, a few public transport characteristics, such as the number of bus and water bus stops, have no significant impact on housing prices. This research can serve as a",0.0,https://doi.org/10.1088/1742-6596/1616/1/012028262e9be629d998f1d16bb829b715ca637c3d9c618aa,10.32609/0042-8736-2025-6-94-113,nalysis of hedonic price indices for Moscow’s secondary housing market and the impact of interest rates,2025,Voprosy Ekonomiki,N. Fokin,"In this paper we construct monthly hedonic price indices for the cost per square meter of secondary housing within the administrative boundaries of Moscow (including New Moscow Administrative District). The data is collected from the most popular platforms, such as Cian, Avito, Yandex, and others. The analysis covers a particularly interesting period from July 2023 to December 2024, during which there was a continuous tightening of monetary policy, which inevitably impacted the secondary housing market. Due to the absence of subsidized programs in this market, mortgage rates are closely aligned with the key interest rate. We analyze the impact of key rate dynamics on real (deflated by the Moscow CPI) hedonic indices, as well as average and median price indices, and find a statistically significant negative effect from the monetary policy tightening. The results of the analysis show that nominal indices (both hedonic and average/median price indices) exhibited growth up until the first quarter of 2024, after which they began to stagnate. By the end of 2024, nominal indices indicated an approximately 10% increase in the cost per square meter of housing in Moscow compared to July 2023",0.0,263a249ac1af24b93ee384d42c38e24ec8a3e9fd72c,10.63053/ijmea.87,Estimation of the Housing Expenditure Function Based on Housing Characteristics for Urban Households in Tehran,2026,"International Journal of applied Research in Management, Economics and Accounting",Aida Naderi Pour,"Accurate prediction of housing prices is of great importance for homeowners, investors, tax assessors, and other participants in the real estate market. Therefore, the availability of a reliable pricing model helps bridge existing information gaps and, consequently, improves the efficiency of the real estate market. 264This study estimates the hedonic rental price model and the household housing expenditure function. In addition, it examines the factors affecting housing prices and expenditures while evaluating the predictive performance of the proposed model. The findings indicate that the estimated coefficients of most explanatory variables are consistent with the theoretical foundations of the subject. 265Among the physical characteristics of housing, larger floor area, a greater number of rooms, the type of building structure, and the availability of piped natural gas and a telephone line have significant positive effects on housing rents and property values. Furthermore, the structural variable of household size (i.e., a larger number of household members) also leads to higher housing rents and property values. Although the presence of central heating and heating and cooling syste",0.0,https://ijmeapub.com/index.php/pub/article/download/87/71266057c0753e64ff32c54edcb1853b5659160ad2891,10.5220/0014397000004861,Locational and Structural Drivers of House Prices: An OLS and Lasso Study,2025,"Proceedings of the 3rd International Conference on Data Science, Advanced Algorithms, and Intelligent Computing",Zhao-Yang Li,": Accurately predicting residential sale prices is vital for buyers, lenders, and public agencies, yet market prices often diverge from assessed values when structural quality and micro-location are ignored. This study applies a hedonic multiple-regression framework to 4,549 single-family sales. After rigorous cleaning, skewed variables are log-transformed, and six additional predictors — age, renovation status, bathroom-to-bedroom ratio, season of sale, and 44 city dummies — are engineered. An ordinary least-squares model that includes 55 explanatory variables explains 73 % of within-sample and 72 % of out-of-sample variation in log-price. Living area shows a semi-elasticity of 0.57, while waterfront, view, and high-quality condition add 34 %, 8 % and 6 % respectively; extra bedrooms without added space reduce value. Locational premiums exceed 200 % in small, high-income enclaves such as Clyde Hill and Yarrow Point. A Lasso-selected specification with 50 predictors retains the same predictive power, confirming robustness. These results provide interpretable, data-driven benchmarks for appraisers and planners, and illustrate that transparent linear models can rival more complex mac",0.0,https://doi.org/10.5220/0014397000004861267fd80318b3be5e435874b05c0b3111e21acbe7509,10.62051/2s5zya49,Impacts of Drinking Water Quality on Housing Prices,2024,Transactions on Computer Science and Intelligent Systems Research,Huilin Huang,"Real estate and the housing market are vital for the U.S. economy, with factors such as economic growth, interest rates, government policies, and subsidies influencing housing prices. This paper will be focusing on the drinking water quality on housing prices by employing the existing researches of different methodologies. Hedonic property value analysis and production function have been used to assess the worth of environmental assets. One research has developed a household production function model that demonstrates that the economic value of system enhancements depends on the costs incurred by households in treating piped water, the availability of alternative options, and the feasibility of relocation. Another residential sorting model was adapted to identify variables influencing the relationship between piped water quality and house price. A natural experiment design found that land and property values increase in close proximity to unpolluted water bodies compared to polluted ones. The significance of this paper is to provide valuable insights for both homeowners and policymakers, as well as to help in making informed decisions regarding infrastructure development and urban ",0.0,https://wepub.org/index.php/TCSISR/article/download/4157/4675268https://openalex.org/W2883696793,10.21834/ajbes.v3i12.125,GIS and Hedonic Pricing for Green Space in Housing Area,2018,Asian Journal of Behavioural Studies,Norzailawati Mohd Noor; M. Zainora Asmawi; Alias Abdullah,"This paper explores a framework that combines Geographic information System (GIS) with Hedonic pricing method in improving the analysis and determining the value of green spaces with housing prices in Subang Jaya, Malaysia. The previous study found that proposed combination between GIS and Hedonic pricing method for the same purpose has not been fully explored particularly in Malaysia. Findings show the proposed combined method leads to improved understanding and representation of urban dynamics and regeneration process, furthermore will encourage a sustainable setting of the environmental amenities in improving the geospatial technologies respectively.Keywords: GIS, Hedonic Pricing Method, green Spaces and urban regenerationeISSN 2398-4295 © 2018. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open-access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture,",0.0,https://ajbes.e-iph.co.uk/index.php/ajbes/article/download/125/pdf269e6126f930172568770f5c78ab573d66edf518887,10.54097/b3smrp21,Research on the Determinants of Real Estate Prices in China under Supply and Demand,2024,"Highlights in Business, Economics and Management",Yanlin Mao,"Since the reform and opening up, the real estate industry has gradually become the pillar industry of the Chinese people, directly or indirectly promoting the development of macro-economy. However, in recent years, the continuous rise of housing prices has become the focus of attention of the government and all sectors of society, which has triggered extensive and in-depth discussion and attention on the real estate industry. Real estate prices are not only closely related to people's lives, but also related to the development of cities and the long-term stability of the country. The healthy development of the real estate industry is also related to the composition of household wealth and government revenue, as well as the stable development of the national economy. Therefore, it is of great practical significance to pay attention to the changes of housing prices. This paper mainly summarizes and reviews the relevant literature on the analysis of factors affecting house prices at home and abroad from three aspects: the supply side, the demand side and the hedonic price model of real estate. It provides basic underlying logic for academic research, policy-making, practical applicati",0.0,https://drpress.org/ojs/index.php/HBEM/article/download/27691/27218270362599527a7d7cc85cb4c07eeb223bebe6481a51,10.32473/ufjur.28.141749,Valuation of Flood Risk in Coastal Housing Markets: Evidence from Tampa Bay,2026,UF Journal of Undergraduate Research,Ava Vellines,"Florida exhibits growing tension between urban population growth and increasing exposure to coastal flooding risk. More than half of the state’s municipalities are threatened by chronic flooding, and in recent years the insurance market has been characterized by rising premiums and insurer withdrawals. Despite these signs, the Tampa Bay region remains one of the fastest-growing metropolitan areas in the United States. This raises questions about whether housing markets are adequately incorporating flood risk into property values. 271While a flood risk discount on home prices has been observed in other places around the world, previous analysis of Florida finds that the desirability of coastal areas outweighs potential risks in the eyes of home buyers. This study uses a hedonic pricing framework and OLS regression to examine how flood risk is capitalized into housing prices in Tampa Bay using a dataset of home sales in Hillsborough County from 2022 to 2024. It reveals that homes with higher expected annual losses from coastal flooding sell at higher prices. This suggests that the desirability of coastal real estate still outweighs the financial and personal risks associated with flood",0.0,https://journals.flvc.org/UFJUR/article/download/141749/148368272189c9774623c5d9391c5425e8173380358eeed11,10.1108/pm-06-2025-0080,Off-grid energy systems and economic returns of luxury residential apartments in urban and peri-urban Ghana,2026,Property Management,E. Attakora-Amaniampong; M. W. Appau; P. D. Agorsor,"273 274 Off-grid energy systems are emerging in luxury residential real estate as a response to demand for energy autonomy. Despite global momentum, there are few empirical studies on the economic viability of off-grid systems in Africa's real estate markets. This study assesses the economic returns of Off-Grid Energy Systems in Luxury homes in urban and peri-urban Ghana.275 276 277 278 A quantitative framework grounded in transaction cost economics (TCE) theory was adopted. The research examined 555 luxury units in urban and peri-urban Accra, analysing household energy costs, system characteristics, property values and developer financial disclosures. Statistical methods, including one-way analysis of variance, multiple regression and hedonic pricing models, were applied to assess cost efficiency, return on investment (ROI) and value premiums.279 280 281 282 Solar-hybrid systems involve a high capital investment (Ghana Cedis (GHS) 125,000–145,000) but generate significant annual savings (approximately GHS 9,000), an attractive ROI and price premiums of up to GHS 120,000. ROI is positively influenced by battery size, system age and location. Hedonic models confirm that off-grid features significantly ",0.0,2835ca4783131e11101e171c7bfca5e2862f859d235,10.1108/ijhma-05-2026-0161,Public housing waitlists and housing affordability: evidence from Kuwait,2026,International Journal of Housing Markets and Analysis,Sulaiman Albader; Khaled Alsabah,"284 285 This paper aims to examine whether changes in the Public Authority for Housing Welfare (PAHW) public housing waiting list are associated with residential real estate price dynamics in Kuwait.286 287 288 289 This study uses Ministry of Justice residential transaction data for Kuwait from 2006 to 2023, aggregated at the residential area, property type and year level. Weighted least squares regressions estimate the association between changes in the PAHW waiting list and residential price growth, controlling for government wages, bank lending, the Central Bank of Kuwait discount rate, property type and residential area characteristics.290 291 292 293 Growth in the PAHW waiting list is positively associated with increases in residential real estate prices. A 1,000-applicant increase is associated with approximately a 0.45% increase in prices in the following year and a 0.92% contemporaneous increase. High-backlog periods are associated with broad-based price increases, while backlog reductions are linked to price stabilization or declines, particularly in mid-priced areas.294 295 296 297 The analysis is associational and constrained by available administrative data, which do not permit the construction of",0.0,298ee602fb41f88743093210eafd60c8269e980bf07,10.37407/kres.2022.40.2.79,A Study on the Determinants of Housing Price in China: Focused on Qingdao City,2022,Korea Real Estate Society,Qi-Hui Wu; Hyung Keun Kim,"Qingdao City is main city of Shandong Province along with Jinan City, one of Shandong Province's major cities. As the interest of the housing market is increasing, studies on Chinese real estate are also being actively conducted. However, the reserch on the housing price in Qingdao is relatively insufficient. The purpose of this study is to analyze the housing market in Qingdao and to analyze the formation factors for housing price in Qingdao. Hedonic price model was used as a model to analyze the housing price formation factors in Qingdao City, and data were collected from China's major housing trading site, Soupang Mang. The subjects of the study were six districts: Shinan, Shibei, Licang, Laoshan, Chengyang and Huangdao District. and the time range is for houses traded from 2014 to 2016. Housing characteristics affecting Qingdao housing prices are divided into regional characteristics, complex characteristics, household characteristics, and location characteristics. The main analysis results are as follows. First, in the regional characteristics, the prices of houses located in Shinan, Shibei, Licang, and Laoshan district were higher than those in other regions. Second, in the c",0.0,29930a06a6b1c4be870f02599d0d8dc57899fef88f3,10.1177/0282423x251341944,Decomposing Residential Resale House Prices into Structure and Land Components,2025,Journal of Official Statistics,Erwin Diewert; Ning Huang,"The use of hedonic regression models on the sales of detached housing units is widespread in the real estate literature. However, these models do not address the need to decompose the sale price into structure and land components. For many purposes, it is necessary to obtain separate estimates for the price and quantity of housing structures and the land that these structures sit on. The builder’s model accomplishes this decomposition but it takes a producer’s perspective and requires an exogeneous structure price index. In the present paper, a consumer approach to the decomposition problem is taken and this “new” approach to the decomposition problem does not require the use of an exogenous building price index. The paper uses data on sales of detached houses in Richmond, British Columbia in order to implement the new approach. The property price indexes generated by the new approach are compared to the corresponding indexes generated by a traditional time dummy hedonic regression model. The traditional hedonic regression approach does generate reasonable overall property price indexes, but the two approaches do not generate similar land and structure subindexes.",0.0,https://doi.org/10.1177/0282423x251341944300036af7575382c2b07d715add3e591d6f0d1ad955,10.3390/su18052304,Modelling Real-Estate Values Around Railway Stations: Insights from an Italian Case,2026,Sustainability,Francesco Guglielmi; T. Tabrizi; Francesco De Fabiis; Pierlugi Coppola,"This study investigates the Wider Economic Impacts (WEIs) of railway infrastructure in Italy by analysing how station characteristics and surrounding urban contexts are capitalized into residential property values. A nationwide cross-sectional dataset covering 985 railway stations is used to estimate a Hedonic Price Model (HPM) combining observed variables and latent constructs derived from Confirmatory Factor Analysis (CFA). Results show that railway centrality, long-distance service provision, and multimodal integration are positively associated with housing prices. In particular, shared mobility services generate significant value uplift effects, especially around Local and Local Plus stations. Conversely, car-oriented accessibility is negatively associated with residential values, reflecting the capitalization of traffic-related externalities. Socioeconomic and tourism-related characteristics further contribute to heterogeneous capitalization patterns across the national territory. The findings provide systemic empirical evidence to support investment prioritization, multimodal integration, and value uplift of station areas within the Italian railway network.",0.0,https://www.mdpi.com/2071-1050/18/5/2304/pdf?version=17721971373010e8a07c9b6c89a7ef4c8fa8cb9b59484e4f6b816,10.56065/cerp2024.1.1.65,Hedonic Modelling of Real Estate Prices in Varna,2024,Construction Entrepreneurship and Real Property,Svetlana Todorova,"The purpose of the research is to model the real estate prices in the city of Varna through hedonic regression. The sample size of the study is 118 apartments that are on the residential market in “Chaika” living estate in the city of Varna, published online on “ALO.bg” as of October 31, 2023. This study is an attempt to reveal the attributes that determined the value of the properties. In other words, the hedonic pricing model can be used to identify factors that can explain the formation of apartment prices in Varna and for predictions. The attributes of the apartments considered in this study are size, floor, number of rooms, location, age, elevator, parking space or garage, type of building, furniture, and type of construction. The fitted model based on the collected data presents the major factors that determined the apartment prices in the city Varna, and the estimators of their slope coefficients are called ""attribute prices"". It was found that the results of the study explain 82% of the total variation in the model, emphasizing the most important factors, and only 18% of the total variation was due to other factors not included in the model.",0.0,https://cerp.ue-varna.bg/index.php/ojs1/article/download/21/63024888e405c787773f225663860d628edf58cd5e5b,10.1051/bioconf/202413102005,Economic Valuation of Bukit Kiara Federal Park using the Hedonic Pricing Approach,2024,BIO Web of Conferences,Nur Syafiqah A. Samad; S. H. Mohammad Afandi; Syamsuriana Sidek; H. Hasbolah; N. F. Shaari,"Urban Green Space (UGS) is a part of urban modern cities living. The significance of the UGS has been outlined in Sustainable Development Goals 11 and 15. Nevertheless, the economic benefits of UGS are often overlooked due to a lack of understanding of their monetary value. This study estimates the economic value of Bukit Kiara Federal Park using the hedonic pricing model. The estimation was conducted by regressing the prices of 599 properties surrounding the park. The change in house pricing could estimate the marginal implicit price which represented the economic value of the park due to the change in its distance to the park (environmental attribute). The results show that reducing the distance by 100 meters increases the house price between RM1,800 and RM54,000 indicating the economic value of Bukit Kiara Federal Park. The study proved that the existence of environmental attributes, in this case, the proximity of a park, influences the house price in the vicinity. Recognizing these economic values will support the justification for developing and maintaining parks which may provide long-term benefits to the community and the environment.",0.0,https://www.bio-conferences.org/articles/bioconf/pdf/2024/50/bioconf_ctress2024_02005.pdf3031d3763b55f8ce1c6dbde59ab64d50acc1032eb4d,10.35136/ker.36.2.4,Impact of the Closure of a Major Retail Facility on Housing Prices : Evidence from the Shutdown of the Lotte Department Store Masan Branch,2026,Korea Real Estate Institute,Nam-Chul Choi; Sang Youb Lee,"This study examines the effect of the closure of a large retail facility on the transaction prices of nearby apartments . It uses the 2024 closure of the Masan branch of Lotte Department Store as a quasi-natural experiment to analyze this effect. Based on apartment transaction data from Masanhappo-gu and Masanhoewon-gu in Changwon Special City (January 2021–December 2025), the study uses a two-way fixed effects model that combines a hedonic price framework with a difference-in-differences approach. The April 2024 closure announcement and the actual July 2024 shutdown are treated as separate events, and the identification strategy is examined through event-study evidence, placebo tests, and Wild Cluster Bootstrap-t inference. 304The estimated post-closure average treatment effect is approximately 2.2%; however, it does not reach statistical significance. The post-period joint F-test in the event-study specification is also insignificant, indicating no clear evidence of an average post-closure price adjustment in the full sample. Supplementary distance-band and submarket analyses show relatively large negative announcement-period coefficients in the 500–1,000-m band and selected submar",0.0,3052cc903414fee946075146f2199c98fc1e2f7ea97,10.46421/entac.v21i1.8875,"Áreas verdes, mercado imobiliário e políticas urbanas",2026,ENCONTRO NACIONAL DE TECNOLOGIA DO AMBIENTE CONSTRUÍDO,Cristiany de Nazaré Moscoso Do Amaral Ferreira; É. Lisboa; L. A. L. Bello,"Green areas are important urban amenities that influence both environmental quality and real estate appreciation, particularly in Amazonian cities marked by sociospatial inequalities and intense urban transformation. Against this background, this study examines the influence of green areas on apartment prices in the urban area of Belém, Pará, Brazil. The analysis adopts a hedonic pricing approach based on linear regression, incorporating both market variables, represented by the physical characteristics of the properties, and non-market variables, namely walking distance to green areas and the Urban Well-Being Index. The findings show that structural attributes have the greatest effect on price formation, especially private floor area, number of parking spaces, and construction standard. At the same time, greater proximity and accessibility to green areas tend to enhance real estate values. Overall, the results underscore the role of green areas as key components of urban quality and point to their relevance for urban planning and for the design of policies aimed at improving the built environment in the Amazonian context.",0.0,https://doi.org/10.46421/entac.v21i1.8875306daa4f09de06676b87492130242694cd896541b5a,10.1108/ijhma-12-2025-0320,Unveiling neighborhood housing preferences in Istanbul: a hedonic pricing perspective on urban livability,2026,International Journal of Housing Markets and Analysis,Tuba Kaya; N. Atakul,"307 308 This paper aims to propose a guiding hedonic model for urban transformation and planning efforts by presenting an approach that can be used to examine the changing demands of users and investors following disasters such as pandemics and earthquakes, and their effects on housing prices, through a case study at the neighborhood scale.309 310 311 312 The housing data and model were developed by synthesizing systematic literature review results and area analysis. Data from major real estate platforms were analyzed using hedonic pricing, with coefficients log-transformed for percentage-based interpretation. Correlation, regression and significance tests were conducted via SPSS 27.313 314 315 316 The model identified eight statistically significant housing features affecting prices. In the study area, user preferences showed thresholds at buildings over ten floors and older than 15 years. Each additional floor reduced price by 0.17%, and each year of age by 0.9%, while a one-square-meter increase in area raised price by 0.6%. These numerical differences emphasize the contextual nature of housing preferences, suggesting that localized analysis yields more accurate insights for urban renewal and new d",0.0,31719d5b6b286f69b31152e9a6ac270b47f2aff8600,10.5505/itujfa.2019.40326,"Housing price estimation in order to sustainable housing: Niyavaran area,Tehran, Iran",2019,A|Z ITU Journal of the Faculty of Architecture,M. Valibeigi; A. Taghipour; M. Feshari,"Housing composite commodity as a one of the most important property of households, has been interesting for researchers and planners in last years. Hedonic pricing, estimating the value of housing characteristics through the use of transactions data. For this purpose, the main aim of this paper is to evaluate the factors affect housing prices in the Niyavaran region of Tehran, Iran. Nowadays, the housing planning tries to meet the needs of users, which this subject is one of the important factors in sustainable housing scheduling. To achieve this objective, first of all the variables influence the housing price have been determined and then, data was collected via the survey and was analyzed, using the Hedonic price model. The empirical results of this paper showed that variables: the building age, number of rooms, house view side, Interior decoration, lighting and distance to school are significant and positive and Parking, education and road traffic were significant and negative in this study. By applying these results in urban projects eventually can lead to the better life quality and sustainability in urban life.",0.0,https://doi.org/10.5505/itujfa.2019.4032631811ddac3108d5fcc806866635ea2276160f2ca53d,10.1007/s10018-020-00278-3,Coastal armoring and sinking property values: the case of seawalls in California,2020,Environmental Economics and Policy Studies,Arlan Brucal; John M. Lynham,"Rising sea levels necessitate careful consideration of different forms of coastal protection but cost-benefit analysis is limited when important non-market social costs have not been measured. Seawalls protect individual properties but can potentially impose negative externalities on neighboring properties via accelerated beach loss. We conduct a hedonic valuation of seawalls in two coastal California counties: San Diego and Santa Cruz. We find no strong evidence to suggest that the presence of a seawall is positively correlated with the value of the home protected. However, we find that seawalls are strongly negatively correlated with the value of neighboring properties in Santa Cruz but not in San Diego county, suggesting that the effect of seawalls depend on certain geographical attributes. Our results are robust to accounting for the public-good nature of locational attributes and the potential spatial dependence of housing prices. Simulation reveals that doubling the extent of seawalls in San Diego and Santa Cruz could reduce property tax revenues by $7 million and $54 million, respectively.",0.0,https://link.springer.com/content/pdf/10.1007/s10018-020-00278-3.pdf31942c48479120ed7ca76c5bc87cf963c25b3b40b37,10.58886/jfi.v22i1.6774,Intersection of Climate Beliefs and Sustainability: An Empirical Study of Energy Efficiency Premiums in the Residential Real Estate Market,2024,Journal of finance issues,Yuchen Lin,"Building on both the certification literature and previous work on the impact of climate change on real estate prices, this paper investigates how the prices of more sustainable homes differ from conventional homes. This paper utilizes data from the Green Building Registry and the Yale Climate Opinion Maps, along with Zillow housing price datasets and uses the hedonic pricing model to estimate the economic impact of energy efficiency on housing prices. Using comprehensive sales transaction data merged with energy rating data of U.S. real estate properties, this paper finds that properties with better energy ratings are sold at a premium compared to those with poor energy performance. The results also suggest that the premium is more profound among neighbourhoods that are more concerned about sustainability and environmental issues. The paper contributes meaningfully to the sustainable finance literature and the energy ratings literature. It has the potential to further our understanding of the role of energy ratings on real estate pricing and how climate beliefs may impact this role.",0.0,https://jfi-aof.org/index.php/jfi/article/download/6774/68243207b53de83deadfed6233c9861ce1578ea24edf1a2,10.2139/ssrn.3881408,Air Pollution and Negative Housing Premium in Korea: Incorporating Transboundary Pollution Spillovers from China,2021,Social Science Research Network,K. Nam; Yifu Ou; Euijune Kim; Si-Qi Zheng,"In this study, we estimate the degree and scope of PM2.5-induced negative price shock in Korea’s local housing markets, taking a 2SLS hedonic approach. For the analysis, we constructed a 5year panel data set of Korea’s 110 city and county level municipalities between 2012 and 2016, and instrumented inverse distance-weighted, wind direction-aligned PM2.5 levels in 260 Chinese prefecture-level cities to consider the long-range transport of air pollutants. We find a PM2.5 elasticity of housing price of -0.36 for the period analyzed, suggesting that, on average, a 1% PM2.5 level increase in a Korean city or county is associated with a 0.36% decline in local residential property value. Transboundary pollution has significant effects on Korea’s local PM2.5 levels, showing an elasticity of 0.05—a unit % increase in PM2.5 levels in China’s major cities exacerbates Korea’s PM pollution by 0.05%, accounting for a comparable share of the PMcaused negative housing premium. Compared to the national average, PM2.5 elasticity with respect to housing price is 22–25% higher in Seoul and its vicinity, which is more vulnerable to transboundary pollution than the rest of Korea. Kyung-Min Nam The Unive",0.0,32176624f2ea27d7d339d99a81c0e14c57dc4eadcfc,10.2139/ssrn.3394549,A Comprehensive Spatiotemporal Framework for Hedonic Pricing: Integrating the Comparable Sales Approach and Minimizing Spatial Omitted Variable Bias,2019,Social Science Research Network,Sotirios Thanos; Jean Dubé; Diègo Legros,"This paper develops a theoretical and methodological framework that integrates Hedonic Pricing (HP), grid comparable sales approach (CSA), and nearest neighbors into a general spatiotemporal specification. By explicitly providing a theoretical justification for introducing spatial (or spatiotemporal) econometrics to HP, this approach is not only relevant to house price forecasting and automated valuation models (AVM) but also to valuing environmental goods capitalized in housing and to all other fields employing house pricing models. The resulting econometric CSA and spatiotemporal Durbin models provide higher prediction accuracy and reliability to alternatives by reducing the spatially-delineated omitted variable bias (OVB) common in HP. Spatiotemporal autoregressive and error models are also derived, providing specific conditions, under which their application can be justified. Our analysis reinforces the common real estate practice of selecting a small number of comparables in grid CSA and challenges AVM approaches, in which hundreds or thousands of comparables are introduced.",0.0,https://doi.org/10.2139/ssrn.33945493221ac5b712289799cd09b97505833d9082df152954,10.1108/pm-06-2024-0058,"Customizing a mass appraisal model for residential property tax assessment: a hedonic regression approach in Bahir Dar city, Ethiopia",2024,Property Management,Melkam Ayalew Gebru; Tadesse Amsalu; Worku Nega,"PurposeThe paper aims to estimate the house rental values for the purpose of customizing mass appraisals in Bahir Dar City, Ethiopia. It seeks to identify the critical factors affecting the rental values of residential properties and customize a mass appraisal model for such properties. The study focuses on identifying attributes that significantly affect house rental values.Design/methodology/approachThe paper adopted a survey research design, utilizing a survey questionnaire, expert group discussion and document analysis. The data were analyzed using thematic, descriptive and inferential statistical analysis, including correlation and hedonic regression analysis.FindingsAmong the variables included in the model, the number of rooms, availability of schools, land value grading, type of nearest road, housing typology, built-up area, plot area, walling material, traveling cost and fencing materials were the most significant factors for predicting the annual rental value of residential properties in the city.Research limitations/implicationsThe findings of this study will provide valuable insights to tax assessors, property owners and local government authorities, including municipal",0.0,3233697153a3d7373f4fc17fe29efe7a122c7e781af,10.46421/entac.v21i1.8992,Risco de inundação urbanas e formação de preços imobiliários,2026,ENCONTRO NACIONAL DE TECNOLOGIA DO AMBIENTE CONSTRUÍDO,Elizeu Cordeiro de Souza; É. Lisboa; Leonardo Augusto Lobato Bello; Matheus Augusto Oliveira Mattos; João Vitor Silva Vieira,"Flood risk may affect real estate prices by compromising urban functionality and environmental quality in areas exposed to recurrent events. This study evaluates the influence of hydraulic flood risk on apartment prices in Belém, Pará, Brazil, adopting the Una Urban catchment (BHU-Una) as the empirical setting. The methodology integrated the formulation of the Hydraulic Risk Index (HRI), hydrological modeling for return periods of 5, 20, and 100 years, GIS-based spatialization, validation, and hedonic modeling. The results revealed a heterogeneous distribution of risk and distinct effects among the neighborhoods within the BHU-Una. The greatest depreciations occurred in Parque Verde under the 20- and 100-year return period scenarios, with reductions of 6% and 9%, respectively, as well as in Val-de-Cães (2% to 5%) and Fátima (3% to 4%). Price appreciations were also observed in Marambaia (12% to 15%), São Brás (10% to 16%), and Umarizal. The study concludes that hydraulic risk acts as an environmental disamenity and that the methodology may support urban policies.",0.0,https://doi.org/10.46421/entac.v21i1.8992324c8e539042203740a33ac7e0ea1885b327216828f,10.7764/ric.00044.21,The use of geostatistics to estimate missing data in a spatial econometric model of housing prices,2022,Revista Ingeniería de Construcción,I. Tamaris Turizo; J. Olmo; R. Cano Guervos,"Housing prices have been the subject of many studies, and some of them have tried to determine the influencing structural and location factors through hedonic econometric models. One of the main factors considered in the literature on real estate appraisals is the location of the dwellings. For this reason, this study combines the spatial methodologies of geostatistics and spatial econometrics. On the one hand, this work uses geostatistics to estimate missing data to account for the lack of information in the sampled real estate websites. On the other hand, the explanatory factors of prices are determined through spatial econometrics. The combination of both methods facilitates estimating housing prices in Santa Marta (Colombia), solving the problem of missing data. In the modeling, the problems of spatial heteroscedasticity and multicollinearity are corrected. This combination of methods could be of great interest to company ies and public agencies related to real estate activity, which is sustained by the information available on these real estate websites.",0.0,https://www.ricuc.cl/index.php/ric/article/download/1249/pdf3258a5b3edb7b173a27e3dc5cfeec621542af91409a,10.9798/kosham.2025.25.3.181,Impact of Major Natural Disasters on Sale Prices of Single-Family Homes,2025,Journal of the Korean Society of Hazard Mitigation,Dalbyul Lee,"This study empirically analyzes the impact of major natural disasters on the sale prices of single-family houses. Employing 2023 transaction data from the public real estate transaction system of the Ministry of Land, Infrastructure, and Transport, a hedonic regression analysis was conducted to assess the relationship between disaster experience and housing prices. The results reveal that single-family house prices in disaster-affected areas were, on average, 12.8% lower than those in non-affected areas, with the decline being more significant in areas that experienced repeated disasters. Specifically, house prices in areas with two disaster experiences declined by an average of 18.7%, and recovery took longer. Additionally, price fluctuations varied by disaster, housing type, and the local housing market. This study provides empirical evidence regarding the impact of natural disasters on the sale prices of single-family houses and underscores the necessity for real estate market stabilization and housing recovery policies in disaster-prone areas.",0.0,http://www.j-kosham.or.kr/upload/pdf/KOSHAM-2025-25-3-181.pdf3268acb5243fed06bb1f23f1332908a7f46169463e4,10.15408/etk.v21i1.16984,Willingness to Pay for Access to Piped Water using Hedonic Pricing Model,2022,Etikonomi,A. Kiani; Zubaria Andleeb; Jawaid A. Qureshi,"The main objective of this study is to estimate the determinants of drinking water supply on the housing rental value using survey based data for the years 2013-14 in Pakistan. Hedonic pricing model is applied using rental value of the houses per month as dependent variable. Piped-water connection and number of rooms show significant impact on housing prices for both rural and urban. Using marginal implicit pricing method, Marginal willingness to pay (MWTP) is also calculated using the median of the rental values of the houses for both rural-urban regions and owned-rented houses. PKR 1676 and PKR 332 are willing to pay per month for urban and rural areas respectively to have quality of water inside their houses. On the same lines, PKR 1087 and PKR 521 are computed values of WTP for these who have their own houses and living on rent respectively.How to Cite:Kiani, A., Andleeb, Z., & Qureshi, J. A. (2022). Willingness to Pay for Access to Piped Water using Hedonic Pricing Model. Etikonomi, 21(1), 79-88. https://doi.org/10.15408/etk.v21i1.16984.",0.0,https://journal.uinjkt.ac.id/index.php/etikonomi/article/download/16984/pdf327e075c6fe2099973f79200c3fb2110ef7bfef767a,10.30574/wjarr.2024.24.2.3458,"Application of the hedonic pricing model to real estate valuation in Hanoi, Vietnam",2024,World Journal of Advanced Research and Reviews,Ho Thi,"The value of real estate is determined by the relationship between supply and demand in the market, location, and the physical structure of the land and surrounding area. During the development of infrastructure in the capital area of Hanoi, Vietnam, changes have occurred that directly impact housing prices. This study applies the Hedonic pricing model and asking prices to predict the market value of real estate and establish the correlation between the factors affecting land prices in Hanoi in 2023 and 2024. The results show that six main factors influence real estate prices: area, number of bedrooms, proximity to the city center, type, amenities, and structure. Among these, proximity to the city center has a negative impact, while the remaining factors have a positive impact on housing prices in this area. Based on these results, participants in the real estate market can make accurate predictions about housing prices, and market regulators can gain a comprehensive view of this market, particularly the factors influencing housing prices.",0.0,https://wjarr.com/sites/default/files/WJARR-2024-3458.pdf3282a42233f2e16d6601cd2ee0da2b76639b775a8bc,10.1111/1752-1688.70046,Timing of Stormwater Pond Construction and Its Impact on Property Values: A Hedonic Analysis in South Carolina,2025,JAWRA Journal of the American Water Resources Association,Joan U. Ureta; M. Motallebi; Michael Vassalos; Erik M. Smith,"Stormwater practices are mainly built to reduce flooding, but recent studies showed they could also be an amenity to residential developments. The literature shows conflicting results on the property value effects of stormwater practices. When not properly maintained and deemed less desirable, they could serve as a disamenity to surrounding property owners. To understand how residential wet detention ponds affect the property values of single‐family homes, we used a hedonic price method to analyze the real estate data of coastal districts of Horry County in South Carolina. Results showed that adjacency to a stormwater pond generates a premium for single‐family homes, although homeowners pay a lower premium when the pond is constructed. Also, newly built homes, particularly presold or less than 2 years old and bought by first owners, command higher prices when near a residential pond. The findings of this study highlight the importance of optimizing stormwater pond designs that deliver the highest benefit to the community.",0.0,https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/1752-1688.7004632906b68c6ed1012b0432cc7c7a49dd32273dc0f262,10.1109/robothia68364.2026.11507118,Urban House Price Forecasting in Malaysia Using Tree-Based Machine Learning Models,2026,2026 IEEE 2nd International Conference on Robotics and Technologies for Industrial Automation (ROBOTHIA),Ying Zheng; Hui Shen Choo; Yoke Leng Yong; Umi Najiah Ahmad Razimi; Muhammed Basheer Jasser; Sina Abdipoor,"Nowadays, it is essential to perform accurate predictions of urban house prices for housing market analysis and policy planning. Malaysia has traditionally used conventional valuation methods such as ARIMA models, Hedonic Price Model, and Linear Regression, but these methods often struggle to represent complex market dynamics. Now, recent work increasingly explores tree-based or neural machine learning (ML) models. This study seeks to implement tree-based models such as Random Forest, Gradient Boosting, and Extreme Gradient Boosting for urban house price forecasting in Malaysia, to examine the effectiveness of ML on house price predictions. In terms of data, structural, locational, and socioeconomic features were compiled from governmental portals, preprocessed, and explored before modelling. During evaluation, metrics such as Root Mean Squared Error (RMSE), Root Mean Squared Percentage Error (RMSPE), Mean Absolute Error (MAE) and Mean Absolute Percentage Error (MAPE) were applied. Out of the three models, Random Forest outperformed the other models when predicting house prices, achieving a MAE value of 0.2189 after optimization and cross-validation. Furthermore, tree-based models ",0.0,33021cd213d90725c99ba6d8fc2008d79557344ea9f,10.18265/1517-03062015v1n44p45-57,Modelagem empírica de rentabilidade no mercado de locação de imóveis na cidade de São Paulo/SP utilizando modelos hedônicos e de regressão,2019,Revista Principia,Fábio Gerab; Bruno Mariano de Carvalho,"It is a big challenge to determine the intrinsic value associated with all attributes existing in a property. It is also difficult to predict this value accurately, because in real estate market there are several properties with distinct characteristics. This study aims at developing a mathematical model capable of estimating the financial return on investments in urban residential apartments destined to lease in São Paulo city, SP, and identifying characteristics that promote a greater profitability for these residential apartments. In order to do so, hedonic multiple linear regression models capable to predict the values of sale and rent have been developed. With these models, and the ratio between the predict values of rent and sale, it was possible to build a new regression model in order to determine the profitability in the rent of residential apartments. Using the analysis of this new model it was possible to determine the characteristics on apartments that present the best profitability on real estate market.",0.0,https://doi.org/10.18265/1517-03062015v1n44p45-57331cfad9a3d5976cdaea13d5b914838db02c66be9f0,10.37284/ijfa.5.1.4871,How Do Psychological Expectations Influence the Relationship between Structural Attributes and Residential Housing Prices in Kenyan Cities?,2026,International Journal of Finance and Accounting,C. Owuor; F. Kalui; S. Onyuma,"The rise in residential housing prices in Kenya challenges affordability and stability, highlighting the need to understand how structural attributes and market dynamics interact. While research mainly focuses on microeconomic factors, the role of psychological expectations in buyer behaviour, especially in Africa, remains underexplored. This study examines how psychological expectations influence the link between structural attributes and housing prices in urban Kenya, using a quantitative approach with a hedonic pricing model and mediation analysis. Data from 242 real estate investors, sampled from 609 agents, show that structural attributes significantly impact prices. Psychological expectations enhance this relationship, increasing explanatory power by 8.3% (ΔR²= 0.083), and turning structural attributes from insignificant (β= -0.065, p= 0.184) to significant predictors (β= -0.224, p< 0.001). These findings highlight behavioural factors as key to Kenya’s housing crisis, challenging traditional views",0.0,https://journals.eanso.org/index.php/ijfa/article/download/4871/5289332233b2203dcd23cc00be4c764a9cda4287077261f,10.2139/ssrn.3613720,Hedonic Brownian Motion Index for Morocco,2020,Social Science Research Network,Z. Firano; Fatine Filali Adib,"In this paper, we propose a new approach to modelling a real estate price index in Morocco, based on the hedonic approach. The basic idea of this paper is to verify the importance of the characteristics of the real estate in the real estate price. Thus, based on data from the three major cities of the capital region of Morocco (RABAT Region), we estimated a hedonic model that takes into account spatial autocorrelation. The results obtained through this modelling generally confirm that the surface area and location of the real estate (land, house, villa and apartment) have a significant influence on the price of real estate. In addition, and because of the static nature of the database, which refers to one year, we have proposed a new approach to building the real estate price index, namely the stochastic Brownian motion approach. The results claim that this index is in perfect agreement with the real estate price index based on the repeat sales approach used and developed by the Central Bank.",0.0,https://doi.org/10.2139/ssrn.3613720333https://openalex.org/W2346908174,10.5958/2231-3915.2015.00012.7,Hedonic Pricing Model With Respect to Gated Housing Attributes in Hyderabad,2015,International Journal of Technology,Akshay Bhanage; Abhimanyu Brahmankar; Ganesh Bagal; B. Ravinder,"The fostering IT sector in Hyderabad has developed a demand for new residential accommodation in the city of Hyderabad. The suburban and urban areas of the city have been witnessing a rise in number of new housing projects. This has lead to the change in the dynamics of the valuation of the housing units in the city. In this study, an attempt has been made to value the housing units based on its intrinsic and extrinsic characteristics. To do so, the Hedonic Pricing concept has been used which is based on the multiple regression techniques to regress the pricing function and to study the individual as well as the overall effect of the characteristics on the value of the property. Factors that determine the house prices in Hyderabad are analyzed in this study using data collected from various sources such as the property expo, site sales office, sample flat visit and company's website. Data collected for 20 gated housing units in different areas of Hyderabad has been used to generate the model. The results showed that the following variables were significant: number of stories, proximity to bus stand and railway station, number of rooms and whether the house is ready to move or not. ",0.0,334a842ed7c689fc0985af5ca73c3f97f4279427db3,10.1007/s42973-025-00217-5,Influence of a special tax-cooling measure on housing prices in Taiwan: a hedonic pricing model with consideration of the spillover effect,2025,Japanese Economic Review,Yiwen Yang,"335 To limit excessive real estate speculation and curb rising real estate property prices in Taiwan, in June 2011, the government imposed a transaction tax (i.e., the Specifically Selected Goods and Services Tax; SSGST) on short-term real estate transactions. The findings in the literature on the effects of transaction taxation on housing prices are inconsistent. To investigate the influence of the SSGST on real estate market prices in Taiwan, we adopted the hedonic pricing model, which can be used to determine the effects of houses’ intrinsic characteristics on their prices, and used merged administrative data. The results demonstrate that the special ad valorem tax was effective in reducing housing prices in short-term transactions, with larger declines observed at higher tax rates. Furthermore, its influence gradually extended to the broader housing market. However, housing prices in municipalities under the control of the central government were less sensitive to the SSGST policy.",0.0,https://link.springer.com/content/pdf/10.1007/s42973-025-00217-5.pdf336ca7e7f948506ab23ecfa3be793e35d7ce16f2a1d,10.64361/14445921.2023.212298,The Impact of the Lagos Metropolitan Development and Governance Project on Residential Property Values,2025,Pacific Rim Property Research Journal,E. Onyekwelu; J. Ogbuefi; O. Nnamani,"This paper aimed at empirically investigating the impact of a ‘moderately unsatisfactory’ urban regeneration scheme on the surrounding housing rental values of units of flats in some selected slum areas of Lagos state, Nigeria. The study employed the hedonic pricing model to assess the rental values of 385 units of flats, and the survey method is used to elicit information from 107 stakeholders. The t-test was used to assess the impact of the Lagos Metropolitan Development and Governance Project (LMDGP) on the rental values of units of flats; while stakeholders’ responses were analysed using mean and standard deviation. The t-test results show that the residential housing rental value was significantly higher in the post-urban regeneration period than the pre-urban regeneration period (t = 28.252, p < 0.001). This is also confirmed by the hedonic pricing model test (t = 26.289, p < 0.001). The stakeholders’ survey findings revealed that the LMDGPs have positive impact on the rental values of units of flats within the study areas. These results attest to the huge potential of using urban regeneration schemes to address urban problems by improving the physical, social, economic, and ",0.0,3379c795a54b59b8ceda6abf71343c4ee3b27414df9,10.23977/etss.2018.12529,Measuring Green Value in Housing Market: Evidence from Hangzhou,2018,,Hai-Zhen Wen; Yuqing Han; Zaiyuan Gui,"With the rapid development of economy, homebuyers prefer to buy the residential complexes with green characteristics, such as living comfort and energy efficiency. As a new trend of housing development model, green housing which is consistent with the concept of sustainability has been promoted positively. More and more real estate developers have used marketing strategy and green words to advertise their residential products. Based on the Hangzhou newly-built housing transaction data in 2016, this study constructs the hedonic price model to quantitatively analyze whether such green marketing have an effect on housing prices. The empirical results show that green marketing really yields a price premium and allows developers to charge such premium that homebuyers have willingness to pay. This study can provide a theoretical basis for government to make relevant policies, as well as real estate developer to determine development decisions.",0.0,http://www.clausiuspress.com/conferences/AETP/ETSS 2018/A12529.pdf3387aeb5e1f0dd90ca832ad3164a6270d106e4f41c6,10.24957/hsr.2024.32.4.89,A Study on the Factors Influencing the Sales Price of Competitive Bidding on Store-Housing Land in Land Development Districts: Focusing on the Seoul Metropolitan Area Developed by LH,2024,Korean Association for Housing Policy Studies,KyungSik Hwang,"This study analyzed the factors influencing the sales price of store-housing land in land development districts. Store-housing land, which combines residential and commercial functions, has garnered significant interest as a profitable real estate product. This study employs the hedonic price model to analyze the variables affecting sales prices in competitive bidding. The analysis reveals two key findings, residentail rental income and commercial function. 339Variables related to the rental income potential of multi-family houses on store-housing land, such as floor area ratio and land usability period, positively influence bidding prices. This indicates that the potential rental income value of these properties is a critical factor Most variables that enhance the commercial value of store-housing, such as location, accessibility, demand and potential demand also positively impact bid prices. These factors suggest that the commercial function's value is significantly reflected in the sales price of store-housing land. 340This research is academically significant as it is the first to investigate the characteristics of store-housing land in land development districts and empirically an",0.0,3413538c557098a21cc97419c47f1fc32e452308957,10.54254/2754-1169/77/20241739,House Pricing and Subway Distance ----An Analysis of Wuhan Estate Market,2024,"Advances in Economics, Management and Political Sciences",Aikun Li,"Many real estate developers advertise residential properties as being located near the subway, which makes one wonder whether subway distance affects the unit price of commercial housing. In this paper, the data of more than 900 new houses in Wuhan were collected and analyzed by multiple regression using Hedonic method. Variables were divided into 3 categories: architecture, position and price to make a more detailed and complex analysis. The results show that subway distance is negatively correlated with housing price, and the closer the subway is, the more obvious this effect is. In other words, the closer the house is to the subway, the higher the unit price of the house. This has a unique guiding significance for real estate developers who have commercial housing construction plans in Wuhan. In addition, the study found that the distance of the house from the hospital can significantly affect the level of housing prices.",0.0,https://www.ewadirect.com/proceedings/aemps/article/view/11386/pdf3420e900e9e77e6a57603b674a5b856f092b4b32ecc,10.1088/1757-899x/780/7/072007,Study on the Influence of Metro on the Housing Price Around the Line--A Case Study of Luoyang Metro Line 2,2020,IOP Conference Series: Materials Science and Engineering,Peng-Tao Li; Dongming Xu,"This paper takes Luoyang Metro Line 2 as an example to study the impact of the metro line on the surrounding house prices. Combining with the hedonic price model, the paper uses the linear model and the semi-logarithmic model to analyze the impact of the metro line on the surrounding house price. The results show that the surrounding house price of the metro is affected by many characteristics. The value-added benefit of the subway is the most obvious in the range of 2000 meters around the subway station, and the subway station is beneficial to the value-added of the surrounding land. At the same time, neighborhood characteristics, other location characteristics and architectural features also have a certain impact on housing prices. Finally, combined with these effects, the government and real estate developers put forward some suggestions to promote the better implementation of urban planning around the subway.",0.0,https://iopscience.iop.org/article/10.1088/1757-899X/780/7/072007/pdf343354ecd48b0b30b2f7d340921b575d538fa0a3fb1,10.37407/kres.2022.40.3.51,A Study on the Determinants of the Realization Rate of Medium and Large Office Sales Prices in Seoul,2022,Korea Real Estate Society,Kwang-Hwa Jung; M. Lee,"This study used the Hedonic model to help introduce and establish a system to realize the official price of non-residential real estate medium and large office buildings, and based on previous studies, it selected transaction characteristics, location characteristics, and building characteristics as dependent variables. As a result of hypothesis verification, all three hypotheses related to transaction characteristics, three hypotheses related to location characteristics, and four related to building characteristics were adopted. Among the transaction characteristics, the factors adopted as determinants of the office building realization rate were sales price, 3 years of treasury bonds, 1 transaction number, and 2 transactions. Among the location characteristics, it was identified as more than 500m of land area, GBD, YBD, CBD, Others, subway station, and 20m of commercial area, roadside, and access road. In the case of building characteristics, a total of 19 factors were adopted as the floor area ratio, total floor area, total number of floors, rectangular, irregular, and less than 30 years of construction year. Since the variables adopted in this way are the main factors related t",0.0,3441b50b18aa70ac64a792cae3aff9507e968c53b87,10.12783/dtetr/mcaee2020/35080,"Southward Premium: The Case of Chongqing, China",2020,,Pan-Yi Li; Aochen Cao; Dan Hu,"This paper focused on the relationship between the orientation of an apartment and its property value. Firstly, we used Hedonic model to decompose the characteristic prices of an apartment, and adopted FGLS to estimate the regression parameters to avoid the adverse consequences caused by heteroscedasticity phenomenon. The empirical result shows that the orientation is not the key factor in the demander’s purchase process. Secondly, in the same community, we selected samples facing south and non-south as a test group and a control group. Through paired regression analysis, we find that in Chongqing’s second-hand housing market, compared to the apartment having no south-facing orientation, those with it on average are valued only 1.42% .It is suggested that the evaluation practice should pay more attention to the orientation characteristics and measure orientation value according to local conditions.",0.0,https://doi.org/10.12783/dtetr/mcaee2020/3508034588397fa1e1a8a07aa0eded4f445b227eb7e0bf9c,10.1145/3572647.3572682,Using the Hedonic Model to Analyze How the Characteristics Impact the Housing Price in Beijing during 2011-2018,2022,Proceedings of the 2022 6th International Conference on E-Business and Internet,Lin Cui; Haorui Li; Xiaoyang Ma; Haoyuan Gu,"In China, house buying, and housing prices have always been hot issues in the people's livelihood field and the economic field. Especially in recent years, the high housing price, the difficulty of hoses buying, and the difficulty of renting a house in big cities such as Beijing and Shanghai have been troubling consumers and the Chinese government. Many real estate development enterprises have also invested more effort and resources in this industry. In this context, by using the Hedonic regression method and econometrics theory and approaches, this paper analyzes the market price of houses in Beijing by using data from “LianJia web” and tries to build two models of a full linear Hedonic model and a log-linear Hedonic model to fit the housing price in Beijing from 2011 to 2018, and the modeling results are analyzed to show the impacts of different characteristic variables on it.",0.0,https://dl.acm.org/doi/pdf/10.1145/3572647.35726823461e76c6644f05764f840ea07b4e82f687f2168f32,10.22214/ijraset.2024.58428,Real Estate Price Prediction: A Comprehensive Review,2024,International Journal for Research in Applied Science and Engineering Technology,Y. Singh,"Abstract: The document below outlines the execution of a price prediction project for housing and real estate markets. A multitude of algorithms have been employed to enhance the accuracy of predictions. Various researchers have undertaken this project and implemented algorithms such as hedonic regression, artificial neural networks, AdaBoost, and J48 tree, which are deemed as the optimal models for price prediction. These models serve as the foundation, and with the aid of sophisticated data mining tools, algorithms like random forest, gradient boosted trees, multilayer perceptron, and ensemble learning models are utilized to achieve a higher rate of prediction accuracy. The results and evaluation of these models, facilitated by machine learning and advanced data mining tools like Weka and Rapid Miner, significantly impact price prediction.",0.0,https://doi.org/10.22214/ijraset.2024.58428347c80b371166327389685d925f0a39182888338a70,10.2139/ssrn.5814424,Mind the Lag: Using Assessed and List Prices as Proxies for Housing Market Values,2025,Social Science Research Network,Gabriel M. Ahlfeldt; H. Koster; Tu Vu,"Property transaction prices are widely regarded as the best measure of property value, but are sometimes unavailable. Using data from the Netherlands and New York, we analyze whether list prices and assessed values are reliable substitutes. In the cross-section, both proxies strongly predict sales prices, and estimated hedonic implicit prices resemble those based on sales prices. Over time, there is a sluggish adjustment in both proxies, but much more so in assessed values—particularly when they are based on rental incomes. While assessed values are well-suited for cross-sectional hedonic modelling or the quantification of static quantitative spatial models, list prices are better suited for the estimation of hedonic implicit prices from variation over time, although some attenuation bias should be expected.",0.0,https://doi.org/10.2139/ssrn.58144243487a74d06a732ea460ba36e27849b64e11a021c8a6,10.22606/jaef.2017.24001,The Effect of Agent Inventory Holdings on Residential Real Estate Transactions,2017,,B. Jason; David Hoover; Michael K. Toma,"This study uses an OLS hedonic pricing model to compare 94 months of Multiple Listing Service (MLS) listings in Chatham County, Georgia with heterogeneous housing characteristics. Controlling for other factors, this study estimates the effect of listing real estate agents’ inventory holdings (number of open listings at time of sale) on the sale price of a house sold via the MLS. Results indicate that agents holding greater levels of inventory result in up to a nearly 6% lower sale price relative to agents with only a few listings. This finding could be considered consistent with the hypothesis of a potential principal-agent problem in the real estate brokerage market whereby agents encourage their clients to accept sub-optimal prices in order to increase total commission income.",0.0,https://doi.org/10.22606/jaef.2017.240013492fd3774a9613d11d776a1e9aef35c47157e0ce6b,10.1504/ijaitg.2019.10024550,Pricing Model for Real Estate Market in Taiwan - Adjusted Matching Approach,2019,International Journal of Agriculture Innovation Technology and Globalisation,Jing-Tang Tsay; Jerry T. Yang; Che-Chun Lin,"We propose an adjusted matching model to predict housing prices with actual transaction data for the real estate market in Taiwan. The lack of transparency in Taiwan's real estate market has resulted in information asymmetry between consumers and housing agencies for a long time until the 'actual price registration' online system took effect in August 2012. Utilising APR database, our pricing model encompasses the advantages of three commonly-used pricing methods: hedonic pricing, repeat sales, and matching methods, while mitigating their shortcomings. Numerical results show that our method performs better than hedonic pricing model in terms of prediction precision. Since the sampling period we select overlaps with the planning stage of 'consolidated housing and land taxes', our empirical results can reflect and quantify the impact of the proposed property taxation system on housing price before its implementation. Our study contributes to providing for real estate market a suitable pricing model in accordance with transaction time, place, and housing characteristics. The results of our study can also shed light on how to value the real estate properties included in an urban renewa",0.0,3508f763b39dbe4531868c3eb6e67b0d5ab88ee3af6,10.4028/www.scientific.net/amr.791-793.2183,The Analysis of South Lake Based on Hedonic Model in Xi'an Influence on the Peripheral Real Estate Value,2013,,Xun-Kuo Gao; Feng Zhang,"With the development of economy and the improvement of peoples living standard, the promoting effect of landscape water on its surrounding real estate industry has become more and more obvious, and attracted the peoples widespread attention. The paper uses the Hedonic model and collects 40 samples based on the south lake surrounding of Xi'an QuJiang dozens of residential area, regarding housing transaction price as the dependent variable, the construction area, the distance to the south lake (hereinafter referred to as distance) and supporting facilities as the independent variable, the logarithmic model was selected for the regression analysis, and get the result that the increment percentage of a house is 0.1% while the average distance close to 1 meter.",0.0,https://doi.org/10.4028/www.scientific.net/amr.791-793.21833514b35069c0ea4486e532cec8f380de1be06e2d34a,10.70382/hijedcm.v09i4.039,"COMPARATIVE ANALYSIS OF FACTORS INFLUENCING RENTAL VALUES IN PUBLIC AND PRIVATE HOUSING ESTATES IN IBADAN, NIGERIA",2025,International Journal of Environmental Design and Construction Management,Oloruntoba Bibilari Idris; Taiwo Olusola Adeola,"Housing is a basic need of man but it is so expensive to build. This explains why those who cannot buy or build outright will prefer to rent. In Nigeria, the rental sector is dominated by players from both public and private sector. The study sampled 40 Estate Surveyors and Valuers in Ibadan who had knowledge of rental market. The findings revealed that Public housing rental values are constrained by the target population’s income and by infrastructure deficits, while private housing markets capitalize on the added value of premium amenities and locational advantages. These results align with earlier studies in Nigeria that emphasize the dominance of affordability factors in public estates and hedonic attributes in private estates. 352 ",0.0,https://harvardpublications.com/hijedcm/article/download/459/462353206bd51e1274809936c4e61dcc66107445df7f4c,10.1016/j.jenvman.2025.128051,Homeowners' willingness to pay for changes in urban tree canopy cover in the United States.,2025,Journal of Environmental Management,R. Haight; Qiuqiong Huang; Kent Kovacs; Alexis Ellis,"Homeowners' willingness to pay for urban forest benefits can be inferred from hedonic property value studies, which use real estate transactions to estimate the elasticity between home value and tree canopy cover (i.e., the % change in home value for a 1 % change in tree cover). We compiled a meta-dataset of 17 hedonic studies to predict this elasticity for 64,658 urban census tracts across the contiguous United States. Three benefit transfer methods were evaluated: matching value transfer using a nearest-neighbor technique, unit value transfer using weighted mean elasticities, and function transfer using a meta-regression model. The matching method produced the lowest out-of-sample transfer errors and best reproduced the observed distribution of elasticities. Using the matching method, we estimated that home values increase $9-$134 per home (2020 USD) for a 1 % increase in urban tree cover. Using projected changes in urban tree cover from 2020 to 2030, which are largely negative, we estimated regional home value losses ranging from $1.7 to $4.8 billion, with a total national loss of $11.8 billion. These results highlight the significant economic value of maintaining and expanding ",0.0,35463065c2cad027c9578aace5fb84b3bd4ba000e2b,10.3368/le.101.1.030423-0019r1,Hurricane-Induced Discharges from Superfund Sites: A Hedonic Price Analysis of Real Estate Market Responses,2024,Land Economics,Mehrnoosh Asadi; Jean Dubé; Pallab Mozumder; Eric Strobl,"Abstract This study investigates the impact of hurricane-induced discharges from Superfund sites on residents’ risk perception and housing values in Harris County, Texas. Employing a difference-in-differences hedonic approach with property sales data from 2013 to 2019, we analyze how residents adjust their risk perception based on environmental hazard information and whether this affects the real estate market. Examining proximity to Superfund sites, we find a 27% reduction in price for houses located within half a mile of impacted sites, diminishing with distance. The findings provide valuable insights for enhancing hazardous waste management through targeted interventions, risk assessments, and response plans.",0.0,https://le.uwpress.org/content/wple/early/2024/07/15/le.101.1.030423-0019R1.full.pdf3550a20cf69754d220106973de6b8c232733403c8f9,10.54691/bcpbm.v29i.2307,A Synthesis of Research on the Impact of Urban Rail Transit on the Price of Commercial Residences Along the Line,2022,BCP Business & Management,Y. Lyu,"While urban rail transit relieves traffic pressure and improves the urban transportation network, it also has a certain impact on the prices of commercial residential properties along the line, and more and more scholars have begun to pay attention to the relationship between rail transit and real estate prices. By sorting out the relevant domestic and foreign research, the existing research results are analyzed from three aspects: research objects, research methods, and research contents, and it is found that Hedonic Price Model is most commonly adopted, and the research in the fields of spatial effect, temporal effect and sub-market effect of rail transit on real estate prices is gradually becoming a hot spot.",0.0,https://bcpublication.org/index.php/BM/article/download/2307/2288356829c9d868f9d5f7ddb4f8ec3b71de990ffe4d917,10.20472/iac.2018.039.031,Analysis of Spatial Dependence in Real Estate Prices: Evidence from an Emerging Market,2018,,Orcun Morali; Neslihan Yılmaz,"Real estate properties are naturally location-fixed, therefore, a spatial dependence is expected. When location-specific factors persist over time, spatial autocorrelation is likely to exist in a hedonic pricing regression. Spatial autocorrelation causes problems in the interpretation of the regression results due to inefficient estimators or complex models. The focus of this study is to identify and test the determinants of spatial dependence in the real estate market. Using a novel data set, our study contributes to the literature as we identify the specific spatial dependence factors through the analysis of different types of housing markets and extend the literature to an emerging market.",0.0,http://iises.net/proceedings/39th-international-academic-conference-amsterdam/table-of-content?cid=82&iid=031&rid=9533357doi_10_2139_ssrn_1791067,10.2139/ssrn.1791067,"Una Propuesta Metodológica Para Estimar Los Cambios Sobre El Valor De La Propiedad: Estudio De Caso Para Bogotá Aplicando Propensity Score Matching Y Precios Hedónicos Espaciales (A Methodological Proposal to Estimate Changes of Property Values: Case Study Developed in Bogota, using Propensity Score Matching and Spatial Hedonic Prices)",2011,,Jorge Andres Perdomo Calvo,"<b>Spanish Abstract:</b> Este estudio comparó los resultados obtenidos mediantes Propensity Score Matching (PSM, nombre y sigla en inglés) y un modelo de precios hedónico espaciales (PHE) para estimar el cambio en el valor de la propiedad en Bogotá, cuando un predio se encuentra ubicado cerca a una estación de TransMilenio (TM). Así, en 2008, las viviendas colindantes a una estación de TM en promedio obtienen un precio mayor entre $117.500 (PHE) y $115.403 (PSM) por metro cuadrado, cuando es contrastado con el valor por metro cuadrado de los predios alejados del área de influencia del sistema TM y que potencialmente hubiesen podido estar afectados directamente por el proyecto. <b>English Abstract:</b> This study uses Propensity Score Matching (PSM) and Spatial Hedonics Prices (SHP) to estimate the change value on residential proprieties in Bogotá (Colombia); as a consequence of the benefits of its Bus Rapid Transit (BRT-TransMilenio). The estimations made suggest that in 2008, the prices of properties located near to a BRT station were s higher on average US$59.76 (using SHP) and US$58.69 (using PSM) respectively, when compared to other properties",0.0,3581bcb6a357084b2c0a4d0bb2e2e3c22bd93fafef8,10.37407/kres.2026.44.2.275,A Study on the Impact of Urban Rail Accessibility on Housing Prices: Focused on Gwangju Metro Line 1,2026,Korea Real Estate Society,I. Yun; K. Choi; Dae Ill Kim,"This study empirically examines the existence of a station-area premium and its station-level heterogeneity in apartment prices along Gwangju Metro Line 1. Apartments located within a 1 km radius of each station were selected, and areas within 500 m of a station were defined as station areas, while those beyond 500 m were classified as non-station areas. The results show that apartments in station areas have significantly higher housing prices than those in non-station areas on average. The hedonic price model, controlling for housing and spatial characteristics, also indicates that station-area location has a statistically significant positive effect on housing prices, corresponding to a price premium of approximately 12%. However, this premium is not uniform across all stations. After excluding overlapping station-area observations and estimating an interaction model for single-station catchment samples, the premium was found to be significant only at specific stations. These findings suggest that while urban rail accessibility is capitalized into housing prices on average, its effect varies depending on each station’s locational context and neighborhood functions.",0.0,3590f2b46f3c834649ff0e9b864745acffe2b620f12,10.1007/s12061-022-09500-z,Assessment of Public Services Distribution in African Urban Areas: a Cost-Benefit Analysis Based on Bid Rents from Spatial Interaction Models,2023,Applied spatial analysis and policy,T. Dentinho; César Pakissi,"The paper proposes a cost-benefit analysis of alternative school networks that are otimized to cover the territory of the central part of Huambo Municipality in Angola. Benefits comes from increases in housing prices associated with changes in employment generated by schools, evaluated by variations in values of real estate estimated by the bid-rents of a spatial interaction model using hedonic regression methods. Costs are associated with construction and functioning of schools. The more advisable school networks alternatives are the ones that optimize the coverage of the region with education services while securing individual viability of each one of the schools.",0.0,https://link.springer.com/content/pdf/10.1007/s12061-022-09500-z.pdf360f73dd9a87dbf13bbf1574cde6bd3e15623c5b8d8,10.1177/14727978251366533,Analysis and modeling of regional economic structure and convergence effect of real estate consumption,2025,Journal of Computational Methods in Sciences and Engineering,Lu Yi,"In order to explore the convergence effect of real estate consumption, this paper combines the hedonic price model and price index to analyze the convergence effect of real estate consumption and combines the regional economic structure to analyze the adjustment speed of housing prices in different regions. This paper finds that house prices tend to moderate as the distance from the inner ring area increases. Further, this paper adopts the panel unit root test, and the panel unit root test also believes that there is price convergence in the regional housing market. Moreover, this paper adopts two methods: separate regression and seemingly irrelevant regression to estimate the adjustment speed, and the results obtained by the seemingly irrelevant regression method are more effective and reliable. In addition, this paper proposes a convergence effect analysis model of real estate consumption. Through the simulation analysis, it can be seen that the regional economic structure and the convergence effect analysis model of real estate consumption proposed in this paper has a good effect.",0.0,361df9e5695e7d28a9ca87ccc8774e4d5ce50e6238c,10.1080/02673037.2025.2552400,Housing price spillovers after real estate agent fee reduction: evidence from the German housing market,2025,Housing Studies,Pekka Sagner,"Abstract This paper examines the impact of changes in the real estate agent fee (REAF) for homebuyers following a 2020 reform in Germany, which capped charges to non-hiring parties at the amount paid by the hiring party and required equal fee splitting when both sides hire an agent. Using a micro dataset of dwellings listed for sale, this study documents a significant decline in the average REAF paid by homebuyers. Findings from hedonic difference-in-differences regressions, with binary and continuous treatment approaches, supplemented by an event study design, suggest that the REAF reduction leads to higher dwelling prices, indicating a price pass-through effect. The effect appears stronger in high-demand housing markets and for apartments compared to single-family houses and less sought-after regions. Additionally, significant relative volume effects indicate shifts in transaction composition. These findings highlight the role of transaction costs in shaping housing prices and market structure, with implications for housing affordability and policy design.",0.0,362b48cbda72b0a9dd6c4e7460b11d81c5815466776,10.31303/krear.2022.87.163,A Study on the Effect of Development Projects in Pyeongtaek City on Housing Price by Region,2022,Korea Real Estate Academy,Eum Jang Cho; Jung-Min Jang,"(1) RESEARCH OBJECTIVES The purpose of this study is to study how the real estate development project of Pyeongtaek City affects housing prices by subdividing the northern, southern, and western regions by region. 363(2) RESEARCH METHOD This study employed the Hedonic Price Model to achieve the major objectives of this study. 364(3) RESEARCH FINDINGS The implications of this study are as follows. First, through this study, it was found that although the start of development projects raised the housing price, it did not falls within the spatial scope of this study, was judged to be meaningful to examine the differences by region as a place where the differences by region are clearly visible. 3652. RESULTS The results of this study are as follows. The influence of other characteristics did not differ significantly by region, but in terms of development characteristics, it was found that the SRT Jije Station start and Samsung Electronics start construction increase the apartment transaction price in the southern and western regions except for the northern region.",0.0,366doi_10_3917_reru_125_0727,10.3917/reru.125.0727,Modélisation de la variabilité spatiale des prix des logements en Tunisie : une nouvelle approche d'estimation des indices de prix régionaux,2012,Revue d’Économie Régionale & Urbaine,Radhouane Filali,"Cet article se propose d’estimer les prix implicites des caractéristiques du logement et de dériver les indices de prix spatiaux en utilisant l’approche hédonique. Nous estimons en premier lieu le modèle hédonique standard sous différentes formes fonctionnelles. Nous présentons en deuxième lieu un modèle spatial qui tient compte de l’hétérogénéité des coefficients hédoniques. Les estimations sur des données tunisiennes fournissent des résultats qui font ressortir la supériorité du modèle spatial. Il se trouve que l’eau potable, une structure moderne du bâti et l’espace habitable sont les caractéristiques du logement les plus valorisées par les ménages tunisiens, d’une part, et que la mixité sociale semble caractériser la configuration urbaine en Tunisie, d’autre part. Le modèle spatial confirme l’hétérogénéité des valeurs marginales des caractéristiques du logement. Ces valeurs présentent des tendances spatiales régulières et résultent en des indices de prix spatiaux cohérents avec le poids économique et urbain des régions tunisiennes.",0.0,3679ee2a7092db25153dfc380a3d34567c344f34b3d,10.18686/fm.v5i3.2499,"Statistical Analysis with Hedonic Pricing Models: Estimation of Real-Estate Values and Anticipation of Housing Price in Beijing, China",2020,,Haoxuan Lyu; Zeyuan Liu,"On the basis of big data regarding the sold house price in Beijing from 2011 to 2017, this research aims to exhibit a comprehensive and rational deducing progress in character with the justified and formulated variables and visible results to be instrumental in the prediction of housing price in Beijing, and it attributes the dominated factors amongst all dependent variables. In this paper, the hedonic price model is the primary analyzing tool to cope with the intrinsic factors in real-estate estimation and prediction.",0.0,https://doi.org/10.18686/fm.v5i3.2499368dd0192d4bd15e3955b858d67852cf8816655111f,10.22423/kreus.2025.18.1.25,"Comparative Analysis of the Determinants of Sale and Rental Prices for High-End Officetels: Focused on Seoul, South Korea",2025,Konkuk Research Institute of Real Estate and Urban Studies,Y. Cho; Hyun-Seok Lee,"This study examines the determinants of sale and rental prices for high-end officetels in Seoul from 2020 to 2024, using a hedonic price model. The analysis reveals distinct factors influencing sale and rental prices, with some variables having opposite effects on each. 369Key findings show that factors such as parking spaces, occupancy ratio, floor level, and proximity to amenities generally positively impact both sale and rental prices. However, some features like concierge service and valet parking have differing effects on sale versus rental prices. 370The study also highlights the impact of the COVID-19 pandemic on the real estate market. Both sale and rental prices increased significantly from 2021 onwards compared to 2020, with varying patterns of growth and decline in subsequent years. 371This research provides valuable insights into the high-end officetel market in Seoul, offering data that can inform future development strategies and policies in this real estate segment.",0.0,37270ecf330359b80abac673dc82829dcb401ee2d40,10.1109/icccbda49378.2020.9095730,"Study of Residential Price Index Based on Quantile Regression Model — A Case Study on Hangzhou, China",2020,2020 IEEE 5th International Conference on Cloud Computing and Big Data Analytics (ICCCBDA),Hai-Zhen Wen; Yao Liu,"With the rapid development of the real estate market, housing prices at different price levels are significantly different from each other. Therefore, this paper selects the second-hand housing transaction data from 2007 to 2015 in Hangzhou, uses the hedonic price model, and introduces the quantile regression to compile the first quantile house price index in Hangzhou. Then we compare it with Ordinary Least Squares estimation to verify its feasibility and necessity. The empirical results show that the variation trend of the price index at different quantiles is the same, but the fluctuation range is significantly different. The rate of increase in housing prices from the high to low prices decline. This study can help the agencies compiling price index to expand their thinking, and provide a more scientific basis for government policy making, real estate agencies and buyers' decision-making.",0.0,37341306b1b5729598796322e659f1e33d9d57b511b,10.35716/ijed/20002,Assessing Impact of Freshwater Lake Ecosystem on Residential Property Prices using Hedonic Property Pricing approach: Evidence from Vellayanilake of Kerala,2020,,A. Vijayan; Elsamma Job,"The ecosystem services provided by wetlands can be direct or indirect. The direct services can be mostly valued through market prices, but the indirect service like aesthetic beauty and its impact on property prices surrounding the natural resource cannot be directly measured. To single out the economic effect of particular amenity which influenced the land property prices, the advanced valuation technique Hedonic property pricing was most popularly used. In this study, it was attempted to assess using the hedonic property pricing technique, the impact of the presence of the freshwater body, the Vellayani Lake on land property prices surrounding it. The results revealed that the marginal implicit price of getting one cent of land with lake view evaluated at mean property price of `2,44250 was `79171. The total aesthetic value of land with the scenic beauty of the lake was `275.92 crores.",0.0,3747b6185164a8314a56e64a09af2ede0ccc709a948,10.5089/9798229054515.029,"Kosovo: Report on Residential Property Price Index (October 27–31, 2025)",2026,High-Level Summary Technical Assistance Reports,,"This technical assistance mission, conducted from October 27 to 31, 2025, supported the Kosovo Agency of Statistics (KAS) in developing the country’s first official Residential Property Price Index (RPPI). The mission focused on refining data cleaning and filtering processes, advancing compilation methods using the hedonic regression approach implemented in the R statistical package, and building local capacity for sustainable index production. The RPPI is critical for monitoring real estate market developments and financial sector risks, particularly for the Central Bank of Kosovo’s (CBK) surveillance and stress testing frameworks. Key recommendations include launching the RPPI by end-2025, ensuring ongoing staff training and adequate resourcing, enhancing data quality through cross-checks, and establishing transparent dissemination practices with detailed methodological documentation.",0.0,375eacd60cb1c5b00e152afea75235716090cb73279,10.1109/icecet63943.2025.11472487,Harnessing Machine Learning to Evaluate the Green Value of Housing: Random Forest and XGBoost Insights,2025,"2025 5th International Conference on Electrical, Computer and Energy Technologies (ICECET)",E. Logosha; M. Maumy; F. Bertrand,"In the context of increasingly stringent thermal and environmental regulations, the transition to sustainable real estate has become a significant challenge in France. Green value, which captures the benefits of a property’s energy efficiency and environmental performance, is emerging as a key criterion in buying and selling decisions. To address the limitations of traditional hedonic models, often constrained by linear assumptions, modern machine learning approaches such as random forests and XGBoost provide a greater capacity to uncover complex interactions between property prices, characteristics (e.g., surface area, number of rooms, construction period), socio-economic conditions, and energy labels. These tools deliver more precise and detailed estimations, enhancing the understanding of green value determinants and fostering sustainable practices in the real estate sector.",0.0,3767f11a8e96c9f42013f85c26db82df4ce25d9e6ec,10.2139/ssrn.3914797,A New Approach to Measuring Intercity Differences in Housing Costs,2021,Social Science Research Network,Nathaniel Harris; Hyung Joon Chung,"Intercity housing price indexes that rely on median house price or pooled hedonic regressions adjust imperfectly for differences in housing characteristics. In addition, intercity house price indexes that rely on asset value are a biased measure of differences in the rental price of housing, because capitalization rates vary dramatically across cities. To mitigate these shortcomings, we create Fisher Ideal intercity housing price indexes for both rental and asset prices using a two-way Oaxaca-Blinder decomposition. Our method improves upon current house price indexes by using rental rather than asset prices, controlling for location and housing characteristics, and allowing implicit prices to vary across locations. ∗Department of Economics, George Washington University, gudwnsgo@gwu.edu †Department of Economics, George Washington University, nharris58@gwu.edu",0.0,377bcf745178dcc691b18c9d83f1fe5e6d55eff9a85,10.31390/gradschool_dissertations.1653,Three essays on real estate finance,2011,,Shuang Zhu,"time structure in the housing market such that only earlier housing transactions are taken for predicting future house values. Our findings show that accounting for spatial and temporal dependence in traditional hedonic pricing model is not only theoretically warranted, but also contributing to better prediction performance. As a",0.0,https://repository.lsu.edu/cgi/viewcontent.cgi?article=2652&context=gradschool_dissertations3789999e16d7d6f49b72811f70253cb154595c8bf06,10.5736/jares1985.19.4_33,Determinant Factors of Housing Prices Identified by Hedonic Regression Analysis,2006,,Xiao-Lu Gao,,0.0,https://doi.org/10.5736/jares1985.19.4_33379doi_10_1016_s0140_6701_06_81552_3,10.1016/s0140-6701(06)81552-3,06/01546 The impact of oil and natural gas facilities on rural residential property values: a spatial hedonic analysis,2006,Fuel and Energy Abstracts,,,0.0,380doi_10_1111_j_1467_9787_2010_00680_x,10.1111/j.1467-9787.2010.00680.x,"RESPONSE TO “SPATIAL MULTIPLIERS IN HEDONIC ANALYSIS: A COMMENT ON ‘SPATIAL HEDONIC MODELS OF AIRPORT NOISE, PROXIMITY, AND HOUSING PRICES’ ”",2010,Journal of Regional Science,Jeffrey P. Cohen; Cletus C. Coughlin,,0.0,38132e2e0aec7830fa50d93266c534ea6ce995395b2,10.1007/s12076-015-0142-6,A spatial hedonic model application of variance function regression to residential property prices in Beijing,2015,Letters in spatial and resource sciences,Yue Zhang; R. Cromley; Dean M. Hanink,,0.0,382doi_10_34117_bjdv7n6_213,10.34117/bjdv7n6-213,Integração dos modelos de preço hedônicos e diferenças em diferenças espacial: uma análise do impacto do arco metropolitano do rio de janeiro sobre os preços dos imóveis / Integration of hedonic price models and spatial differences: an analysis of the impact of the metropolitan arc of rio de janeiro on real estate prices,2021,Brazilian Journal of Development,Joilson de Assis Cabral; Maria Viviana de Freitas Cabral; Isa Bárbara Ferreira Mendes; Paulo Victor dos Santos Lima; Matheus de Andrade Santos,,0.0,3831bb2ec8fbb1cc849e055d2bc0799bb342e365f59,10.1007/978-3-319-39435-0_15,Determinants of House Prices in Mauritius: A Hedonic Price Model à la Quantile Bootstrapped Approach,2017,,Indranarain Ramlall,,0.0,384https://openalex.org/W2605299151,10.18397/kcgr.2011.15.1.159,The Comparison of Hedonic Housing Price Models in the Busan Housing Market using Spatial Econometrics Methodology,2011,Korean Comparative Government Review,Kyoun-Sup Chung,,0.0,385doi_10_1016_j_spasta_2024_100864,10.1016/j.spasta.2024.100864,Joint spatial modeling of mean and non-homogeneous variance combining semiparametric SAR and GAMLSS models for hedonic prices,2024,arXiv,J. D. Toloza-Delgado; O. O. Melo; N. A. Cruz,"In the context of spatial econometrics, it is very useful to have methodologies that allow modeling the spatial dependence of the observed variables and obtaining more precise predictions of both the mean and the variability of the response variable, something very useful in territorial planning and public policies. This paper proposes a new methodology that jointly models the mean and the variance. Also, it allows to model the spatial dependence of the dependent variable as a function of covariates and to model the semiparametric effects in both models. The algorithms developed are based on generalized additive models that allow the inclusion of non-parametric terms in both the mean and the variance, maintaining the traditional theoretical framework of spatial regression. The theoretical developments of the estimation of this model are carried out, obtaining desirable statistical properties in the estimators. A simulation study is developed to verify that the proposed method has a remarkable predictive capacity in terms of the mean square error and shows a notable improvement in the estimation of the spatial autoregressive parameter, compared to other traditional methods and some ",,https://arxiv.org/pdf/2409.08912v1386doi_10_1509_jmkr_40_3_310_19238,10.1509/jmkr.40.3.310.19238,Measuring the Hedonic and Utilitarian Dimensions of Consumer Attitude,2003,Journal of Marketing Research,Kevin E. Voss; Eric R. Spangenberg; Bianca Grohmann,"This article reports the development and validation of a parsimonious, generalizable scale that measures the hedonic and utilitarian dimensions of consumer attitudes toward product categories and different brands within categories. The hedonic/utilitarian (HED/UT) scale includes ten semantic differential response items, five of which refer to the hedonic dimension and five of which refer to the utilitarian dimension of consumer attitudes. The authors conducted six studies to establish the unidimensionality, reliability, and validity of the two HED/UT subscales. In reaching the final scale, the authors also develop and implement a unique process of paring down a psychometrically sound but otherwise too large set of items. Nomological validity is established by replacing a typical, one-dimensional attitude toward the brand measure with the hedonic and utilitarian dimensions in a central route processing model. Results suggest that the hedonic and utilitarian constructs are two distinct dimensions of brand attitude and are reliably and validly measured by the HED/UT scale.",1713.0,387doi_10_1016_0095_0696_78_90006_2,10.1016/0095-0696(78)90006-2,Hedonic housing prices and the demand for clean air,1978,Journal of Environmental Economics and Management,David Harrison; Daniel L Rubinfeld,,1347.0,388https://openalex.org/W1582846375,10.2307/3145857,Micro-Neighborhood Externalities and Hedonic Housing Prices,1980,Land Economics,Mingche M. Li; H. James Brown,"The evaluation of numerous school reforms requires an understanding of the value of better schools. Given the difficulty of calculating the relationship between school quality and student outcomes, I turn to another method and use house prices to infer ...",522.0,389c2f692f275affede3cfd581711b8348be5c84583,10.1016/j.landurbplan.2013.08.009,Classification and valuation of urban green spaces—A hedonic house price valuation,2013,,T. Panduro; Kathrine Lausted Veie,,319.0,390https://openalex.org/W2908970112,10.1016/j.landusepol.2018.12.030,Monitoring housing rental prices based on social media:An integrated approach of machine-learning algorithms and hedonic modeling to inform equitable housing policies,2019,Land Use Policy,Lirong Hu; Shenjing He; Zixuan Han; He Xiao; Shiliang Su; Min Weng; Zhongliang Cai,,231.0,39175dfcc506bf59c1bf00006d807dde1f71b8c5068,10.1016/j.jtrangeo.2008.10.012,Does high-speed rail accessibility influence residential property prices? Hedonic estimates from southern Taiwan,2010,,D. Andersson; Oliver F. Shyr; J. Fu,,192.0,392doi_10_1111_j_1467_9787_2010_00664_x,10.1111/j.1467-9787.2010.00664.x,ESTIMATION AND HYPOTHESIS TESTING FOR NONPARAMETRIC HEDONIC HOUSE PRICE FUNCTIONS,2010,Journal of Regional Science,Daniel P. McMillen; Christian L. Redfearn,,163.0,393d2c4f9deb4eba996262a599494c966c75785d580,10.1007/s10109-005-0011-8,Heterogeneity in hedonic modelling of house prices: looking at buyers’ household profiles,2006,Journal of Geographical Systems,Y. Kestens; M. Thériault; François Des Rosiers,,138.0,394https://openalex.org/W2074808384,10.1002/j.2325-8012.2002.tb00492.x,The Market Value of Reducing Cancer Risk: Hedonic Housing Prices with Changing Information,2002,Southern Economic Journal,Ted Gayer; James T. Hamilton; W. Kip Viscusi,"In this paper, we use housing price changes occurring after the release of a regulatory agency's environmental risk information to estimate the value people place on cancer risk reduction. Using a large original data set on the repeal sales of houses, matched with detailed data on hazardous waste cancer risk and newspaper publicity, we find that housing prices respond in a rational manner to changes in information about risk. Since the new information indicated that the sites in our sample pose relatively low cancer risk, the informational release led residents to lower their risk beliefs, resulting in an average housing price increase of $56 to $87. This price change implies a statistical value per case of cancer of $4.3 million to $8.3 million, which is similar to the estimates obtained in labor market studies of the value of a statistical life. Newspaper publicity about the local sites increased housing prices, suggesting that residents perceived the news as good.",108.0,395doi_10_1007_s11146_007_9083_1,10.1007/s11146-007-9083-1,Do Repeated Wildfires Change Homebuyers’ Demand for Homes in High-Risk Areas? A Hedonic Analysis of the Short and Long-Term Effects of Repeated Wildfires on House Prices in Southern California,2007,The Journal of Real Estate Finance and Economics,Julie Mueller; John Loomis; Armando González-Cabán,,106.0,396731283f3e5d3ed191e0d86aaa61184ca95314623,10.1080/2167034x.2003.12461362,Has Falling Crime Driven New York City’s Real Estate Boom?,2003,Journal of Housing Research,A. Schwartz; Scott J. Susin; Ioan Voicu,"We investigate whether falling crime has driven New York City’s post-1994 real estate boom, as media reports suggest. We address this by decomposing trends in the city’s property values from 1988 to 1998 into components due to crime, the city’s investment in subsidized low-income housing, the quality of public schools, and other factors. We use rich data and employ both hedonic and repeat-sales house price models, which allow us to control for unobservable neighborhood and building-specific effects. We find that the popular story touting the overwhelming importance of crime rates has some truth to it. Falling crime rates are responsible for about a third of the post-1994 boom in property values. However, this story is incomplete because it ignores the revitalization of New York City’s poorer communities and the large role that housing subsidies played in mitigating the earlier bust.",101.0,397doi_10_1046_j_1080_8620_2003_00078_x,10.1046/j.1080-8620.2003.00078.x,Estimating Bargaining Effects in Hedonic Models: Evidence from the Housing Market,2003,Real Estate Economics,John P. Harding; John R. Knight; C.F. Sirmans,"Bargaining is common in markets for heterogeneous goods and differences in bargaining power between buyer and seller affect the negotiated transaction price. Previous research has found systematic evidence in the housing markets that weak buyers pay higher prices and weak sellers receive lower prices for their homes. Earlier work has modeled the bargaining effect as a parallel shift in the hedonic function, implicitly assuming that attribute shadow prices were unaffected by the bargaining process. In this paper, we use a sample of home sales where the seller's bargaining power is weakened by the fact that the home is vacant at the time of sale to test whether the effect of bargaining is best captured by a shift in the hedonic constant or whether the attribute shadow prices vary as well. The question is significant for property valuation where estimation of the marginal value of an attribute is commonly used to adjust comparable sales data. We find strong confirmation that bargaining power influences the negotiated price. We also find evidence that bargaining power alters attribute prices, although we do not find a consistent pattern across markets.",98.0,398https://openalex.org/W2063450286,10.1080/02673039608720863,Non‐parametric hedonic housing prices,1996,Housing Studies,Carl Mason; John M. Quigley,"The hedonic price function has long been a standard tool for modeling the price of complex commodities, such as housing. The theoretical basis of the model is sound and appealing, but applications often encounter difficulties. The results of hedonic models depend on inclusion of the right independent variables and the correct specification of the functional form. The functional form assumption is particularly difficult in the housing context because the hedonic price function summarizes not only consumer preferences and production technology, but also various quantities which are historically determined, difficult to measure, and not approachable by theory. In this paper, the functional form assumption is relaxed by estimating the hedonic price function as a General Additive Model (GAM). The GAM is considerably more general than conventional hedonic models and offers significant advantages in comprehensibility over other non‐parametric procedures. The model is used to analyze the substantial decline in condominium house values in downtown Los Angeles during the 1980s — a period in which apartments lost about 40 per cent of their values.",93.0,https://escholarship.org/content/qt2qz3t9n2/qt2qz3t9n2.pdf399doi_10_1108_14635789810212913,10.1108/14635789810212913,Transport investment and house prices,1998,Journal of Property Valuation and Investment,John Henneberry,"The paper describes the use of hedonic analysis to examine the impact of the South Yorkshire Supertram on house prices in Sheffield. The approach was distinguished by the use of asking prices rather than transaction prices, the use of dummy variables to capture neighbourhood quality effects and the use of a GIS to calculate continuous distance variables. Compared with similar previous studies the equations performed well and identified, for the first time in a British context, a small, discrete transport induced price effect. Supertram initially depressed the prices of nearby houses but prices show signs of recovery. Further research is needed to examine the longer term impact of Supertram on the housing market.",92.0,400c913c0b55f3f8b7cfe5f115ac61e5e8b5316aefc,10.1016/j.regsciurbeco.2014.09.002,The impact of hazardous industrial facilities on housing prices: A comparison of parametric and semiparametric hedonic price models,2014,,Céline Grislain-Letrémy; Arthur Katossky,,89.0,https://doi.org/10.2139/ssrn.2457195401https://openalex.org/W1503904404,10.1016/j.regsciurbeco.2015.11.001,"Hedonic price–rent ratios, user cost, and departures from equilibrium in the housing market",2015,Regional Science and Urban Economics,Robert Hill; Iqbal A. Syed,,88.0,402doi_10_1080_095999100367930,10.1080/095999100367930,Heteroscedasticity in hedonic house price models,2000,Journal of Property Research,M. Fletcher; P. Gallimore; J. Mangan,,82.0,403doi_10_1111_j_1465_7295_2007_00110_x,10.1111/j.1465-7295.2007.00110.x,HEDONIC IMPUTATION AND THE PRICE INDEX PROBLEM: AN APPLICATION TO HOUSING,2008,Economic Inquiry,ROBERT J. HILL; DANIEL MELSER,"In this study, we show how use of the hedonic imputation method complicates the price index problem. In addition to the usual choice between formulas such as Fisher and Törnqvist, the fact that index compilers have some discretion over which prices are imputed implies that it is necessary to choose as well between different varieties of each formula. The functional form of the hedonic model must also be taken into account. We illustrate the importance of these issues in a housing context using house price data for three regions in Sydney over a 3‐yr period. ( JEL C43, E31, O47, R31)",74.0,404https://openalex.org/W1521910555,10.2307/3145991,A Comparison of Block Group and Census Tract Data in a Hedonic Housing Price Model,1977,Land Economics,Allen C. Goodman,"The consideration of neighborhood effects in urban and regional models has been constrained by data inadequacies. Analysts have customarily used data aggregated at the census tract level to characterize areas differentiated by public service provision or socioeconomic composition. This paper introduces use of the block group, an aggregation unit typically 20 to 25 percent of the size of a census tract, formulated for general use in the 1970 censuses for all urbanized areas. 1",69.0,405doi_10_1016_j_jhe_2010_04_001,10.1016/j.jhe.2010.04.001,Hedonic versus repeat-sales housing price indexes for measuring the recent boom-bust cycle,2010,Journal of Housing Economics,Robert E. Dorsey; Haixin Hu; Walter J. Mayer; Hui-chen Wang,,69.0,406https://openalex.org/W1584826612,10.2307/3146095,The Effect of Rent Control on the Price of Rental Housing: An Hedonic Approach,1984,Land Economics,Denton Marks,It is widely believed that rent control leads to a decline in the quality of rental housing. This study examines the effect of rent control on the quality of rental housing in New York City. Quality change is linked to the suppression of rent below ...,68.0,407doi_10_1016_s0950_3293_02_00207_0,10.1016/s0950-3293(02)00207-0,Hedonic tests in different locations as predictors of apple juice consumption at home in elderly and young subjects,2003,Food Quality and Preference,Katarzyna Kozlowska; Marta Jeruszka; Irena Matuszewska; Wojciech Roszkowski; Nina Barylko-Pikielna; Anna Brzozowska,,66.0,408https://openalex.org/W2549984650,10.1007/978-981-10-2762-8_2,Hedonic Housing Price Theory Review,2016,Springer geography,Yang Xiao,,65.0,409https://openalex.org/W1526189538,10.1515/jbnst-2010-0612,Housing Prices in Tokyo: A Comparison of Hedonic and Repeat Sales Measures,2010,Jahrbücher für Nationalökonomie und Statistik,Chihiro Shimizu; Kiyohiko Giichi Nishimura; Tsutomu Watanabe,"Summary Do indexes of house prices behave differently depending on the estimation method? If so, to what extent? To address these questions, we use a unique dataset that we compiled from individual listings in a widely circulated real estate advertisement magazine. The dataset contains more than 470,000 listings of housing prices between 1986 and 2008, including the period of the housing bubble and its burst.We find that there exists a substantial discrepancy in terms of turning points between hedonic and repeat sales indexes, even though the hedonic index is adjusted for structural changes and the repeat sales index is adjusted in the way Case and Shiller suggested. Specifically, the repeat sales measure signals turning points later than the hedonic measure: for example, the hedonic measure of condominium prices bottomed out at the beginning of 2002, while the corresponding repeat sales measure exhibits a reversal only in the spring of 2004. This discrepancy cannot be fully removed even if we adjust the repeat sales index for depreciation.",61.0,410doi_10_1016_j_forpol_2010_05_004,10.1016/j.forpol.2010.05.004,Insect infestation and residential property values: A hedonic analysis of the mountain pine beetle epidemic,2010,Forest Policy and Economics,James I. Price; Daniel W. McCollum; Robert P. Berrens,,59.0,411doi_10_1111_j_1080_8620_2004_00100_x,10.1111/j.1080-8620.2004.00100.x,On the Use of Spline Smoothing in Estimating Hedonic Housing Price Models: Empirical Evidence Using Hong Kong Data,2004,Real Estate Economics,Helen X.H. Bao; Alan T.K. Wan,"Traditionally in estimating hedonic housing price functions, investigators use parametric models involving specific functional forms and a finite number of unknown parameters. Some investigators have questioned whether the underlying theory is capable of conveying sufficient information to enable a correct and successful specification of parametric models and have instead proposed the less restrictive semiparametric approach to the problem. In this paper, we illustrate how the technique of smoothing splines can be used to estimate hedonic housing price models. Smoothing splines are a powerful approach to the analysis of housing data as they are exceptionally flexible in their functional forms and provide a computationally tractable method even with a large number of explanatory variables. Our illustration takes the form of a rather limited, but very promising, application with Hong Kong data. In the forecasting comparison, the spline smoothing procedure outperforms the traditional parametric Box–Cox model in mean square error terms for out‐of‐sample predictions. Our results also suggest that the distortion caused by underfitting the model is smaller for spline smoothing than for th",56.0,412doi_10_1016_j_jhe_2009_07_012,10.1016/j.jhe.2009.07.012,Managing hedonic housing price indexes: The French experience,2009,Journal of Housing Economics,Christian Gouriéroux; Anne Laferrère,,55.0,41352c76b68c43da3a5db5c8806d05e9e1bdb189d77,10.3368/le.87.1.75,Climate Change and Housing Prices: Hedonic Estimates for Ski Resorts in Western North America,2011,Land Economics,V. Butsic; Ellen Hanak; Robert G. Valletta,,55.0,4141022f0789cfa84ccae1076d05cd321019173167a,10.1080/00343401003601925,The Impact of Industrial Sites on Residential Property Values: A Hedonic Pricing Analysis from the Netherlands,2011,,F. de Vor; H. D. de Groot,,53.0,https://research.vu.nl/en/publications/76e8b7ca-9bf2-4ded-adf9-2b297857d8a4415doi_10_1016_j_landurbplan_2008_09_002,10.1016/j.landurbplan.2008.09.002,The impact of detention basin design on residential property value: Case studies using GIS in the hedonic price modeling,2009,Landscape and Urban Planning,Jae Su Lee; Ming-Han Li,,51.0,416dca3cc2e5d61172ccc7fdde6deb5215501153934,10.1016/j.frl.2021.101960,COVID-19 and Housing Prices: Australian Evidence with Daily Hedonic Returns,2021,Finance Research Letters,M. Hu; Adrian D. Lee; Di-Han Zou,"Using daily hedonic housing price index for five Australian capital cities, we document a negative relationship between prior COVID-19 cases and daily housing returns. Specifically, the daily housing return drops by 0.35 basis points or 1.26 percentage points annually for every doubling of newly confirmed COVID-19 cases in a state. We also examine the effect of government lockdown orders on housing returns and find insignificant results. These findings are robust under alternative pandemic proxies such as total active COVID-19 cases and other model specifications. Overall, our paper contributes to the literature on the geographic spread of pandemics and real estate prices.",47.0,https://www.ncbi.nlm.nih.gov/pmc/articles/8597044417doi_10_1006_juec_1996_0011,10.1006/juec.1996.0011,New Hedonic Estimates of Regional Constant Quality House Prices,1996,Journal of Urban Economics,Edwin S. Mills; Ronald Simenauer,,47.0,418f48b8dbddcb45df1b8030d1b4b07743eccfc70f6,10.1111/jors.12187,HEDONIC ANALYSIS OVER TIME AND SPACE: THE CASE OF HOUSE PRICES AND TRAFFIC NOISE,2015,,Aaron M. Swoboda; T. Nega; M.A. Timm,,46.0,419b3a053a05d224ab432dbd228289718b7d245f94f,10.3390/su10051418,Effect of Revitalisation of Historic Buildings on Retail Shop Values in Urban Renewal: An Empirical Analysis,2018,,W. M. Jayantha; E. Yung,"There often exists a tension between heritage conservation and urban redevelopment. However, heritage places are progressively operated as consumption spots and economic commodification, based on scholarly argument, is a major reason for the existence of a heritage resource. In this study, it is argued that revitalisation of historic edifices in districts undergoing urban renewal enhances the values of nearby commercial properties. This study employed a Hedonic Price Model (HPM) to investigate the existence of any relationship between revitalisation of historic building developments and the value enhancement of nearby retail properties located at the ground floor in the old area of Wanchai in Hong Kong. The model used 2961 real estate transactions obtained from buildings in the neighbourhood of three revitalised historical projects in the studied area, where a number of revitalisation projects have been completed. The results show that the revitalised historical projects have generated considerable value enhancements to the retail shopping properties in the vicinity. The results also revealed that the revitalised historical sites exert a greater impact on the retail property prices",45.0,https://www.mdpi.com/2071-1050/10/5/1418/pdf420doi_10_1111_j_1365_2621_1981_tb14559_x,10.1111/j.1365-2621.1981.tb14559.x,Preference Testing of Whiskey Sour Formulations: Magnitude Estimation Versus the 9‐Point Hedonic,1981,Journal of Food Science,M. R. McDANIEL; F. M. SAWYER,"ABSTRACT Consumer preferences for different whiskey sour formulations were determined by a consumer laboratory panel and by a home panel using two different sensory techniques: the magnitude estimation procedure and the nine‐point hedonic method. Use of the magnitude estimation testing procedure resulted in more statistically significant differences in preference in both the home panel and the consumer laboratory panel. Many more significant differences in preference were expressed by the home panel than by the consumer lab panel. The standard whiskey sour formula scored very well in the preference tests in comparison to the formula adjusted samples. In only two of the comparisons were the adjusted samples preferred over the standard, the 25% dilution of the standard and the 35° proof samples.",43.0,421doi_10_1016_0094_1190_85_90039_7,10.1016/0094-1190(85)90039-7,Hedonic housing price indices and secondary employment centers,1985,Journal of Urban Economics,Bruce Bender; Hae-Shin Hwang,,42.0,422https://openalex.org/W2948400313,10.1016/j.jenvman.2019.05.144,Impacts of environmental disturbances on housing prices: A review of the hedonic pricing literature,2019,Journal of Environmental Management,Sarah Nicholls,,42.0,423https://openalex.org/W3125907624,10.1080/10835547.2007.12091199,Improved Estimators of Hedonic Housing Price Models,2007,Journal of Real Estate Research,Helen X. H. Bao; Alan T. K. Wan,"In hedonic housing price modeling, real estate researchers and practitioners are often not completely ignorant about the parameters to be estimated. Experience and expertise usually provide them with tacit understanding of the likely values of the true parameters. Under this scenario the subjective knowledge about the parameter value can be incorporated as non-sample information in the hedonic price model. In this paper, we consider a class of Generalized Stein Variance Double k-class (GSVKK) estimators which allows real estate practitioners to introduce potentially useful information about the parameter values in the estimation of hedonic pricing models. The GSVKK estimator is a generalization of a family of shrinkage estimators introduced by Ohtani and Wan (2002, Econometric Reviews). Data from the Hong Kong real estate market are used to investigate the estimators' performance empirically. Compared with the traditional Ordinary Lease Squares approach, the GSVKK estimators have smaller predictive mean squared errors and lead to more precise parameter estimates. Some results on the theoretical properties of the GSVKK estimators are also presented.",41.0,424https://openalex.org/W2219511693,10.1080/08941920.2015.1024810,"Are Housing Prices Pulled Down or Pushed Up by Fracked Oil and Gas Wells? A Hedonic Price Analysis of Housing Values in Weld County, Colorado",2015,Society & Natural Resources,Ashley Bennett; John B. Loomis,"As fracking moved into neighborhoods it has created concerns by homeowners about environmental effects and reduced property values. However, the increase in drilling activity results in gains in employment and increased the demand for housing. We apply the hedonic price method to a heavily fracked county in Colorado to test for the net effects of these two factors on house prices. Results across 12 different models shows that in seven of these the count of wells being fracked within a half-mile of a house has a small (−1% per well being drilled) but significant effect on house prices in the in Weld County and Greeley but not in rural areas. In models without year fixed effects, employment in the oil and gas sector has a relatively small but significant positive effect on house prices in the whole county and urban area model specifications, but not in the rural model specifications.",39.0,425doi_10_1108_17538271011080655,10.1108/17538271011080655,Structural and temporal changes in the housing market and hedonic housing price indices,2010,International Journal of Housing Markets and Analysis,Chihiro Shimizu; Hideoki Takatsuji; Hiroya Ono; Kiyohiko G. Nishimura,"Purpose An economic indicator faces two requirements. It should be reported in a timely manner and should not be significantly altered afterward to avoid erroneous messages. At the same time, it should reflect changing market conditions constantly and appropriately. These requirements are particularly challenging for housing price indices, since housing markets are subject to large temporal/seasonal changes and occasional structural changes. The purpose of this paper is to estimate a hedonic price index of condominiums of Tokyo, taking account of seasonal sample selection biases and structural changes in a way it enables us to report the index in a manner which is timely and not subject to change after reporting. Design/methodology/approach The paper proposes an overlapping‐period hedonic model (OPHM), in which a hedonic price index is calculated every month based on data in the “window” of a year ending this month (this month and previous 11 months). It also estimates standard hedonic housing price indexes under alternative assumptions: no structural change (“structurally restricted”: restricted hedonic model) and different structure for every month (“structurally unrestricted”: u",38.0,42660733e5d37fdb0f25f664d31162e5b4f65e632a5,10.3390/su9030475,Effects of Waste-to-Energy Plants on China’s Urbanization: Evidence from a Hedonic Price Analysis in Shenzhen,2017,,Chuan-Wang Sun; Xiaochun Meng; Shui-Jun Peng,"Along with the accelerated process of China’s urbanization, the increasing urban population has put much pressure on solid waste disposal. A speeding-up development plan of waste incineration power generation has been launched in China, which aims to resolve the dilemma where many cities are besieged by waste. However, due to the potential impact on surrounding environment, the site selection of these facilities has encountered protests from local residents. The economic reflection of the non-market public sentiment precisely embodies the prices of surrounding real estate market. Taking Shenzhen city as an example, this paper applies a hedonic price model to evaluate its impact on local housing values. The results show that for every additional kilometer the property is away from WTE (waste-to-energy) plants, the value of real estate can increase by 1.30%. If the distance is restricted to within 5 km, the effect rises to 8.6%, which remarkably increases negative externality. In addition, the depreciation impacts on property in two regions of Shenzhen city are significantly different. Policies for reducing the negative effects of the WTE plants are recommended.",38.0,https://www.mdpi.com/2071-1050/9/3/475/pdf?version=1490177392427doi_10_1080_095999197368735,10.1080/095999197368735,A hedonic investigation of the rental value of apartments in central Bordeaux,1997,Journal of Property Research,Martin Hoesli; Bernard Thion; Craig Watkins,,35.0,428doi_10_1023_a_1017924503356,10.1023/a:1017924503356,House building and product differentiation: An hedonic price approach,2001,Journal of Housing and the Built Environment,Chris Leishman,,35.0,429doi_10_2148_benv_35_4_563,10.2148/benv.35.4.563,Floods and Residential Property Values: A Hedonic Price Analysis for the Netherlands,2009,Built Environment,Vanessa E Daniel; Raymond J.G.M Florax; Piet Rietveld,,35.0,4300d7a2255ec63e59a48a54551f7551249c1f6a5f1,10.1177/0042098014547368,Registered sex offenders and house prices: An hedonic analysis,2015,,S. B. Caudill; Ermanno Affuso; Ming Yang,,35.0,43180fa3d0527fab373e6bef3f7fa13049c4fe2bf11,10.1016/j.landusepol.2019.104458,"Assessing economic instruments to steer urban residential sprawl, using a hedonic pricing simulation modelling approach",2020,,R. Mendonça; P. Roebeling; F. Martins; T. Fidélis; C. Teotónio; H. Alves; João Rocha,"Over the past centuries, cities have undergone major transformations that led to global urbanization. One of the phenomena emerging from urbanization is urban sprawl, defined as the uncontrolled spread of cities into undeveloped areas. The decrease in housing prices and commuting costs as well as the failure to internalize the real costs associated with natural land, led to households moving-out into the urban fringe – resulting in fragmented, low-density residential development patterns that has multiple negative impacts. Awareness for this problem has fed the need for the implementation of effective policies against urban residential sprawl – a subject that has received considerable attention in literature, albeit little attention has been given to economic incentive instruments. Hence, the objective of this paper is to assess the effectiveness of different economic instruments in steering urban residential sprawl – assessing property taxes, land taxes and public transport subsidies. To this end, the Sustainable Urbanizing Landscape Development (SULD) model is used and adapted, and a case study is provided for the medium-sized City of Aveiro in central Portugal. Results show that",34.0,https://www.sciencedirect.com/science/article/pii/S0264837719305241/pdf432doi_10_1111_1540_6229_00382,10.1111/1540-6229.00382,An Evaluation of Hedonic Price Indexes for Thirty‐four Large SMSAs,1986,Real Estate Economics,Dixie M. Blackley; James R. Follain; Haeduck Lee,"The purpose of this paper is twofold. First, a set of price indexes are developed for thirty‐four metropolitan areas for the years 1975 and 1978. Indexes are also broken down by central city and suburb for twenty two of the metropolitan areas. These indexes measure variation in the price per unit of owner‐occupied housing stock and the price per unit of housing services of rental housing. Confidence intervals are constructed for the price indexes. It is found that the indexes are reasonably precise measures in that the typical ratio of the confidence interval to the predicted median rent or value is about 13%. Also, analysis of the confidence intervals indicates substantial and statistically significant variation in the price of housing stock and services among the metropolitan areas studied. One of the major benefits of this set of indexes is that it can be used to address one of the most important questions in real estate — Why do housing prices and rents vary among metropolitan areas and over time? Research projects are currently underway that use the data to address these two questions.",34.0,4337fc5f156aaef4029a39151dba13011cc1c758b5e,10.1080/24694452.2022.2156318,Climate Gentrification: Valuing Perceived Climate Risks in Property Prices,2023,Annals of the American Association of Geographers,Joshua J. Thompson; R. Wilby; J. Hillier; Richenda K. Connell; G. Saville,"There is growing evidence that physical climate hazards—such as floods and wildfires—affect property prices. Climate change scenarios suggest more frequent and severe physical climate hazards in the future, coinciding with greater exposure of populations to such threats. This raises concern because changes in property prices pose risks to homeowners’ financial status, as well as to the insurance and mortgage industries, bank portfolios, and thereby financial systems. We begin with a new definition of climate gentrification (CG) that captures links between physical climate hazards, perceptions of risk and resilience, and capital flows in property markets. This is followed by a structured assessment of the key drivers of CG, and an empirical case study of property data for a flood-prone UK city to demonstrate how CG depressed house price growth over the period from 2005 to 2018 by up to 50 percent in flood-exposed (relative to unexposed) locations. We then provide a discussion of ethical concerns around CG research, with suggested ways forward. Such price signals have potential ramifications for the long-term stability of real estate markets and raise policy implications for private ",32.0,https://www.tandfonline.com/doi/pdf/10.1080/24694452.2022.2156318?download=true434doi_10_1037_0893_164x_19_4_423,10.1037/0893-164x.19.4.423,Children's Hedonic Judgments of Cigarette Smoke Odor: Effects of Parental Smoking and Maternal Mood.,2005,Psychology of Addictive Behaviors,Catherine A. Forestell; Julie A. Mennella,,31.0,435doi_10_1080_00420988920080551,10.1080/00420988920080551,"A Hedonic Index Model: The Housing Market of Jos, Nigeria",1989,Urban Studies,Isaac F. Megbolugbe,"This paper demonstrates the usefulness of the hedonic index approach to the study of housing markets in developing countries. The study broadens the geographical scope of the various economic studies of these markets. The current practice of extrapolating empirical findings from studies of housing markets in Latin America and Asia to the less studied markets of African cities is improved on by incorporating direct evidence on housing market conditions from African case studies. This paper uses data from Jos, Nigeria to provide empirical evidence on market parameters describing the hedonic relationships for housing. For the Jos sample, variables measuring the quality of housing structure and of public services in various neighbourhoods are the local hedonic structure descriptors. Some uses of housing hedonic index numbers for housing market policy analysis are presented.",30.0,436doi_10_2307_135026,10.2307/135026,Price Effects of Rent Control on Controlled and Uncontrolled Rental Housing in Toronto: A Hedonic Index Approach,1985,The Canadian Journal of Economics,George Fallis; Lawrence B. Smith,,29.0,43734b3481704b37fd8ca54fb7c8ce5ec4318306509,10.1007/978-3-319-21470-2_15,Spline Smoothing for Estimating Hedonic Housing Price Models,2015,Communication Systems and Applications,V. del Giudice; B. Manganelli; P. De Paola,,25.0,438doi_10_1006_juec_1993_1039,10.1006/juec.1993.1039,Estimation of Hedonic Housing Price Models Using Nonsample Information: A Monte Carlo Study,1993,Journal of Urban Economics,J.R. Knight; R.Carter Hill; C.F. Sirmans,,22.0,4393244bfbe46126d82d9734bb6ef3476cad91ccc3f,10.1017/age.2016.16,Impacts of Ground Water Contamination on Property Values: Agricultural Run-off and Private Wells,2016,Agricultural and Resource Economics Review,D. Guignet; P. Walsh; R. Northcutt,"Few studies have examined the impacts of ground water quality on residential property values. Using a unique data set of well tests, we link residential real estate transactions to home-specific contamination and conduct a hedonic analysis of sales in Lake County, Florida, where pollution concerns relate primarily to agricultural run-off. We find that recent testing and contamination of ground water there correspond to a 2–6 percent depreciation in home values, an effect that diminishes over time. Focusing on nitrogen-based contamination, we find that prices decline mainly when concentrations exceed the regulatory health standard, suggesting as much as a 15 percent depreciation at levels twice the standard.",21.0,https://www.cambridge.org/core/services/aop-cambridge-core/content/view/1F19A8C953B22819F365066F512CC6F4/S2372261416000163a.pdf/div-class-title-impacts-of-ground-water-contamination-on-property-values-agricultural-run-off-and-private-wells-div.pdf4409dd3ef8baea1541e7438928532ebd498c89ffa88,10.15641/jarer.v1i1.452,"Hedonic Valuation of Real Estate Properties in Nigeria, Hedonic Valuation of Properties in Nigeria",2018,Journal of African Real Estate Research,R. Abidoye; A. Chan,"Despite the wide adoption of the Hedonic Pricing Model (HPM) approach in property valuation in the real estate domain, a large number of studies conducted by real estate scholars, have tended to focus on the ‘explanatory’ rather than the ‘predictive’ ability of the technique. Given this industry focus, and thus the lack of information on the predictive nature of HPM, the present study sets out to investigate the predictive accuracy of HPM in property valuation. Data on sales transaction of residential properties were collected from registered property firms practising in the Lagos metropolis property market, in Nigeria. The collected data were divided into two categories - the training set which was fitted to the HPM developed, and the testing dataset which was used for the model validation. Accuracy metrics were used to evaluate the predictive accuracy of the HPM developed. The analysis shows that the HPM approach produced inaccurate predicted property values in terms of a high mean absolute percentage error (MAPE), mean absolute error (MAE) and root means square error (RMSE) which may not be acceptable by rational real estate investors. Also, about 60% of the predicted property v",20.0,https://journals.uct.ac.za/index.php/JARER/article/download/452/53744194fa9d09b711caa1953592690f60f2228a333b07,10.3390/buildings10020027,The Relevance of EPC Labels in the Spanish Residential Market: The Perspective of Real Estate Agents,2020,Buildings,Carlos Marmolejo-Duarte; Silvia Spairani Berrio; Consuelo Del Moral-Ávila; Luís Delgado Méndez,"Assessment regarding the impact of Energy Performance Certificates (EPC) on the residential market is largely inconclusive; while the majority of hedonic analyses have found EPC ratings to be correlated with prices, opinion-based research has found a negligible impact on prices and other marketing variables. Using the opinion of qualified real estate agents, this paper explores whether, in Spain, EPC labels play any role in housing marketing, as well as the policy changes required to foster efficient dwellings. The results reveal a large misunderstanding of the EPC labels, since they are seen as a global home-quality indicator, while their impact on residential marketing is quite poor. Apparently, both supply and demand place a small interest in energy performance, although it is slightly larger for sellers/buyers in relation to lenders/tenants. In any case, EPC labels are far from blurring the energy information asymmetry, since most of the buyers/tenants are informed of the EPC rating after having selected their home. Overall, the EPC scheme has a poor reputation exacerbated by inaccuracies, unintelligible units to express the financial and environmental implications of energy ef",20.0,https://www.mdpi.com/2075-5309/10/2/27/pdf?version=1583034915442doi_10_1002_jae_1186,10.1002/jae.1186,On nonparametric estimation of a hedonic price function,2010,Journal of Applied Econometrics,Harry Haupt; Joachim Schnurbus; Rolf Tschernig,"Abstract Recently, using mixed data on Canadian housing, Parmeter, Henderson, and Kumbhakar ( Journal of Applied Econometrics 2007; 22 : 695–699) found that a nonparametric approach for estimating a hedonic house price function is superior to formerly suggested parametric and semiparametric specifications. We carefully reanalyze these specifications for this dataset by applying a recent nonparametric specification test and simulation‐based prediction comparisons. For the case at issue our results suggest that a previously proposed parametric specification does not have to be rejected and we illustrate how nonparametric methods provide valuable insights during all modeling steps. Copyright © 2010 John Wiley & Sons, Ltd.",19.0,443fb5a043f15efd825817b54a5cd4de0369c3b6a03,10.1016/j.landusepol.2017.12.058,The effect of conservation policy and varied open space on residential property values: A dynamic hedonic analysis,2018,,Linda M. Fernandez; Monobina Mukherjee; T. Scott,,19.0,444doi_10_1111_j_1541_1338_2005_00175_x,10.1111/j.1541-1338.2005.00175.x,Hedonic Estimation and Policy Significance of the Impact of HOPE VI on Neighborhood Property Values,2005,Review of Policy Research,Edward Bair; John M. Fitzgerald,Abstract HOPE VI was designed as a program to revitalize distressed public housing. This study uses hedonic methods to test whether projects that are rebuilt with HOPE VI funds have a positive effect on surrounding property values. Comparisons are made between HOPE VI and other types of public housing programs using data on property values by census block groups from the 2000 census. We find that HOPE VI had a statistically significant positive impact on surrounding property values on the order of 8–10% for every quarter‐mile closer that a housing unit was located to the development. Other public housing developments were found to have little if any effect on property values.,18.0,4457502cfea42d1ca8f4d106f44cc9b6c8ea0c68bac,10.1007/s12517-017-3331-3,The use of hedonic pricing method to determine the parameters affecting residential real estate prices,2017,Arabian Journal of Geosciences,Ayşe Yavuz Özalp; H. Akıncı,,18.0,44675223727394d9991c23fd21bb2db5636f9a31258,10.3390/su14031713,Assessing the Impact of Aviation Noise on Housing Prices Using New Estimated Noise Value: The Case of Taiwan Taoyuan International Airport,2022,Sustainability,Hsiu-Chang Tsao; Chi-Jie Lu,"Aviation noise at airports has a significant impact on nearby residents’ quality of life and residential property values. This study evaluated the impact of aviation noise based on house prices by using three different hedonic price models. Two novel independent noise variables, the estimated aviation noise value and noise reward fund are proposed for constructing effective hedonic price models. The real data of real estate transactions from the region defined by the Taoyuan International Airport’s 60–64 dB day-night average sound level (Ldn) and >=65 dB Ldn noise contours are adopted as empirical data. Empirical results showed that the double-log hedonic price model with the proposed estimated aviation noise variables is the most suitable model for this study. Based on the double-log model, this study found that aviation noise has a significant negative impact on house prices in both noise contour areas of 60–64 dB Ldn and >=65 dB Ldn. The rate of decline in house prices is approximately USD 2356.02/dB and USD 3622.78/dB in the 60–64 dB Ldn and >=65 dB Ldn contour areas, respectively. Our results also showed that the noise reward fund had no significant impact on the house prices ",17.0,https://www.mdpi.com/2071-1050/14/3/1713/pdf?version=1644389022447d65887d530aded05010c5a1fad35fa4f4a416d90,10.3390/econometrics6030032,Econometric Fine Art Valuation by Combining Hedonic and Repeat-Sales Information,2018,Econometrics,John W. Galbraith; Douglas J. Hodgson,"Statistical methods are widely used for valuation (prediction of the value at sale or auction) of a unique object such as a work of art. The usual approach is estimation of a hedonic model for objects of a given class, such as paintings from a particular school or period, or in the context of real estate, houses in a neighborhood. Where the object itself has previously sold, an alternative is to base an estimate on the previous sale price. The combination of these approaches has been employed in real estate price index construction (e.g., Jiang et al. 2015); in the present context, we treat the use of these different sources of information as a forecast combination problem. We first optimize the hedonic model, considering the level of aggregation that is appropriate for pooling observations into a sample, and applying model-averaging methods to estimate predictive models at the individual-artist level. Next, we consider an additional stage in which we incorporate repeat-sale information, in a subset of cases for which this information is available. The methods are applied to a data set of auction prices for Canadian paintings. We compare the out-of-sample predictive accuracy of dif",16.0,https://www.mdpi.com/2225-1146/6/3/32/pdf?version=1529827155448doi_10_3109_10550490903206023,10.3109/10550490903206023,Effects of a Diagnosis or Family History of Alcoholism on the Taste Intensity and Hedonic Value of Sucrose,2009,The American Journal on Addictions,Kristen A. Tremblay; Jessica M. Bona; Henry R. Kranzler,"Given inconsistent findings in published studies, we examined whether a personal lifetime history of alcohol dependence (AD) or a parental history of alcoholism affected preference for sweet solutions. Ninety‐three alcohol‐dependent subjects rated the intensity and hedonic value of five different sucrose solutions, which was compared with similar data from 122 subjects screened to exclude alcohol dependence. The effect of a family history of alcoholism (FH) was examined in the AD group. Neither the diagnosis of AD nor a family history of alcoholism was associated with ratings of sweetness intensity or sweet preference. These findings do not support the hypothesis that sucrose preference is positively associated with either a personal lifetime history of AD or a family history of alcoholism.",16.0,449b87d09b2e03e7740cf8a0aa96cd6215c10b9a4ca,10.1108/ijhma-05-2018-0036,Real estate prices and stock market in Germany: analysis based on hedonic price index,2019,International Journal of Housing Markets and Analysis,K. Gokmenoglu; Siamand Hesami,"PurposeReal estate and stocks are two major asset types in an investor’s portfolio. Therefore, this paper aims to investigate the relationship between these two markets to provide a valuable insight into the process of portfolio optimization and security selection.Design/methodology/approachThis study examines the long-run relationship between residential real estate prices and stock market index in the case of Germany for the period of 2005-2017 by applying time series econometrics techniques. To this aim, this study uses Hedonic House Price Index as a proxy for real estate prices and DAX30 as a proxy for stock prices. Moreover, three additional variables, namely, consumer confidence, credit availability and supply of mortgage loans, are incorporated as control variables to assess the robustness of the results.FindingsObtained empirical results indicate a long-run relationship between stock prices and real estate prices which suggests that in long-run, there is no diversification benefit from allocating stock and real estate assets in a portfolio. This finding is especially important for long-term investors such as pension funds.Originality/valueTo the authors’ best knowledge, thi",15.0,https://hdl.handle.net/11129/148314500700fce81747d166ee237b487b5b75e1d167496d,10.1007/bf03399266,Constant-Quality House Price Indexes for Switzerland,2008,,Steven C. Bourassa; M. Hoesli; D. Scognamiglio; Philippe Sormani,"SummaryThe measurement of house price movements is a vital topic from both academic and practical perspectives and hence has been the focus of much research. There is almost unanimous consensus in the literature that house price indexes should control for the quality of properties; the most widely used methods to attain this aim are the hedonic and repeat sales approaches. The objective of this paper is to compare the Swiss house prices indexes published by the Swiss National Bank (SNB), which are constructed using medians of list prices as published in newspapers and on the internet, to hedonic indexes based on sale prices for the period 1985 to 2006. We find that the list price indexes exhibit quite a different price path than the hedonic indexes during the period. In particular, they appear to overstate price changes in housing markets. We attribute this, at least in part, to changes over time in the composition of the sample of properties on the market.",15.0,https://doi.org/10.2139/ssrn.1138641451doi_10_1111_1468_5876_00143,10.1111/1468-5876.00143,An Hedonic Analysis of the Rental Office Market in the Tokyo Central Business District: 1985-1994 Fiscal Years,2000,The Japanese Economic Review,Koichi Nagai; Yasushi Kondo; Makoto Ohta,,15.0,452doi_10_2172_978870,10.2172/978870,The Impact of Wind Power Projects on Residential Property Values in the United States: A Multi-Site Hedonic Analysis,2009,,Ben Hoen; Ryan Wiser; Peter Cappers; Mark Thayer; Gautam Sethi,,14.0,453674687f59bdec96ac2b378f81aa0535ac950ffb3,10.1007/s41324-021-00416-3,Comparing OLS based hedonic model and ANN in house price estimation using relative location,2021,Spatial Information Research,Mudit D. Mankad,,14.0,454https://openalex.org/W2150485309,10.1007/s10182-011-0173-2,A functional connectivity approach for modeling cross-sectional dependence with an application to the estimation of hedonic housing prices in Paris,2011,AStA Advances in Statistical Analysis,Georges Bresson; Chêng Hsiao,,14.0,45559d56e278db106668f06fe0aab26281002526fca,10.3390/su15043731,Improved Ecosystem Services and Environmental Gentrification after Rehabilitating Brazilian Urban Streams,2023,Sustainability,A. Golgher; M. Callisto; R. Hughes,"The high levels of environmental pollution observed in urban freshwater ecosystems result in losses of ecosystem goods and services, reducing the well-being of human populations in densely populated tropical cities. The Belo Horizonte Metropolitan Region (BHMR) resembles other megacities in the Global South, with inadequate collection and treatment of domestic sewage being an important source of environmental degradation. However, urban stream rehabilitation can improve ecosystem quality and the physical and mental well-being of local citizens. Therefore, the objective of this study was to assess whether the rehabilitation of three BHMR streams and the increased provision of ecosystem goods and services for local residents were associated with environmental gentrification and public health issues. To achieve this objective, we asked three questions. (i) Was there socioeconomic improvement in the households located near the rehabilitated streams? (ii) Did property values appreciate near the rehabilitated streams? (iii) Was the relative incidence of diseases decreased in the residents living near the rehabilitated streams? We tested three hypotheses. (H1) The socioeconomic profile of",13.0,https://www.mdpi.com/2071-1050/15/4/3731/pdf?version=1676635136456bc16ed08ccd7264be0e3240d17a2efd4df15b764,10.1007/s43546-022-00225-2,Impact of the COVID-19 pandemic on the housing market at the epicenter of the outbreak in China,2022,SN Business & Economics,Shian Zeng; Cheng-Dong Yi,"The outbreak of the COVID-19 in January 2020 has had a profound impact on the global economy, so it is important to study the impact of the pandemic on the housing market. To investigate the impact of the pandemic on the housing market and the response of the housing market, this paper first uses the hedonic price model to compile the second-hand housing price index in Wuhan and its neighboring capital cities and then uses the difference-in-difference (DID) model to conduct a comprehensive study on new commercial housing and second-hand housing market. In addition, this paper also uses the VAR model to explore the housing market’s response to the epidemic situation. The results show that the negative impact of the pandemic on the housing market is mainly reflected in the volume and area of housing transactions, with little impact on housing prices. Second, the reported cases of COVID-19 have a negative impact on the housing market in the short term, which gradually weakens with time and disappears after three weeks. This paper’s findings indicate that the epidemic’s impact on the housing market is mainly due to the real estate enterprises stopping selling houses and local governmen",13.0,https://link.springer.com/content/pdf/10.1007/s43546-022-00225-2.pdf457doi_10_1016_s1051_1377_05_80037_3,10.1016/s1051-1377(05)80037-3,Zoning and hedonic housing price models,1991,Journal of Housing Economics,J.M. Pogodzinski; Tim R. Sass,,13.0,458f16dea09ef89e4fd19c7f74bcba148d48bebcbc2,10.1108/ijhma-02-2018-0010,Wind power and real estate prices in Oklahoma,2018,International Journal of Housing Markets and Analysis,B. Castleberry; J. S. Greene,"459Purpose460Oklahoma has seen rapid growth in the development of wind energy over the past decade. Residents are concerned about the negative impacts of turbines such as noise or their appearance. This has raised concerns about property values. Thus, this paper aims to examine and quantify the overall impact of wind turbines upon real estate prices in Western Oklahoma.461462463Design/methodology/approach464Sales prices and the history of approximately 23,000 residential real estate records for both platted and unplatted properties in five counties were examined prior to the announcement of construction, after announcement and after construction. A hedonic analysis was undertaken to examine the real estate prices of the properties near wind farms.465466467Findings468While there may be isolated instances of lower property values for homes near wind turbines, results show no significant decreases in property values over homes near wind farms in the study area. Similar results are found for the unplatted properties.469470471Practical implications472This paper highlights that in spite of mixed attitudes toward wind farms and misconceptions regarding the link between turbines and property values, Oklahoma’s growin",12.0,4732a9f5fcbeca0074be4f1d9888691eaf2747252e6,10.1177/0042098014546499,The ex-ante impact of conflict over infrastructure settings on residential property values: The case of Paris’s suburban zones,2015,,A. Torre; V. Pham; Arnaud Simon,"The presence of nearby public facilities has an impact on real-estate values; for this reason, the market may reasonably anticipate that public infrastructure projects will affect house prices. But undesirable and semi-desirable facility location choices may be contested by nearby residents, as they are a source of negative externalities or expectations. In Paris’s suburban zones, opposition to these infrastructures is frequent, and the official announcement of a project does not automatically mean it will be implemented. Through three case studies, we explore the way in which the expectation mechanism is affected by legal conflicts driven by nearby residents. We suppose that expectations depend on the probability that a given project will be realised. The variation is captured by a hedonic model. As conflicts amplify or reduce the certainty of the new facility’s arrival, market perceptions of the infrastructure vary.",12.0,https://basepub.dauphine.fr/handle/123456789/13627474d5a685fc98ba2ca91101c515d0dbbe9830ac632e,10.1007/s10901-023-10033-1,Do COVID-19 pandemic-related policy shocks flatten the bid-rent curve? Evidence from real estate markets in Shanghai,2023,Journal of Housing and the Built Environment,Yifu Ou; Zhi-Kang Bao; S. T. Ng; Jun Xu,"The COVID-19 pandemic has drastically affected the socioeconomic activities and peoples’ daily life, resulting in a change in locational preferences in the real estate markets. Although enormous efforts have been devoted to examining the housing price impacts of the COVID-19 pandemic, little is known about the responses of the real estate markets to the evolving pandemic control measures. This study investigates the price gradient effects of various pandemic-related policy shocks using a hedonic price model on the district-level property transaction data in Shanghai, China over a 48-month period from 2018 to 2021. We found that these shocks have significantly altered the bid-rent curves. The price gradient for residential property units decreased in absolute value to − 0.433 after Wuhan’s lockdown, demonstrating peoples’ preferences to avoid the high infection risks in districts closer to the city center. However, in the post-reopening and post-vaccine periods, the price gradient increased to − 0.463 and − 0.486, respectively, implying rational expectations of a recovering real estate market for the low infection and mortality rates. In addition, we discovered that Wuhan’s lockdown",11.0,https://link.springer.com/content/pdf/10.1007/s10901-023-10033-1.pdf475https://openalex.org/W2195494019,10.1111/asej.12077,Semiparametric Model of Hedonic Housing Prices in J apan,2015,Asian Economic Journal,Koji Karato; Oleksandr Movshuk; Chihiro Shimizu,"We propose a semiparametric hedonic model of housing prices with nonlinearity in age and cohort effects. The model avoids the simultaneity problem among age, cohort and year effects, which is a common problem in linear hedonic models. Applying the model to housing prices in Tokyo between 1990 and 2008 revealed significant nonlinearities in both the age and cohort effects, and significant interactions between these effects, with the shape of the age effect differing across housing cohorts. Estimates of the year effect indicated a declining trend in prices that was more pronounced compared with those of conventional linear hedonic models.",11.0,476doi_10_1111_1540_6229_00844,10.1111/1540-6229.00844,An Application of Hedonic Indexing Methods to Monthly Changes in Housing Prices: 1965–1975*,1977,Real Estate Economics,Michael G. Ferri,,11.0,477f447ec9285fdc368c15e5f8313529025bf30a601,10.1108/jerer-07-2017-0025,Is there room for another hedonic model?,2018,Journal of European Real Estate Research,Marcelo Cajias,"478Purpose479This paper aims to explore the in-sample explanatory and out-of-sample forecasting accuracy of the generalized additive model for location, scale and shape (GAMLSS) model in contrast to the GAM method in Munich’s residential market.480481482Design/methodology/approach483The paper explores the in-sample explanatory results via comparison of coefficients and a graphical analysis of non-linear effects. The out-of-sample forecasting accuracy focusses on 50 loops of three models excluding 10 per cent of the observations randomly. Afterwards, it obtains the predicted functional forms and predicts the remaining 10 per cent. The forecasting performance is measured via error variance, root mean squared error, mean absolute error and the mean percentage error.484485486Findings487The results show that the complexity of asking rents in Munich is more accurately captured by the GAMLSS approach than the GAM as shown by an outperformance in the in-sample explanatory accuracy. The results further show that the theoretical and empirical complexities do pay off in view of the increased out-of-sample forecasting power of the GAMLSS approach.488489490Research limitations/implications491The computational requirements",10.0,492f2fbab563511c0f803d762d3e6e5148c5d68fbf9,10.1108/ijhma-06-2022-0093,Modeling the dynamic effects of macroeconomic factors on housing performance in Kenya,2022,International Journal of Housing Markets and Analysis,Fredrick Otieno Okuta; T. Kivaa; Raphael M. Kieti; J. Okaka,"493Purpose494This paper studies the dynamic effects of selected macroeconomic factors on the performance of the housing market in Kenya using Autoregressive Distributed Lag (ARDL) Models. This study aims to explain the dynamic effects of the macroeconomic factors on the three indicators of the housing market performance: housing prices growth, sales index and rent index.495496497Design/methodology/approach498This study used ARDL Models on time series data from 1975 to 2020 of the selected macroeconomic factors sourced from Kenya National Bureau of Statistics, Central Bank of Kenya and Hass Consult Limited.499500501Findings502The results indicate that household income, gross domestic product (GDP), inflation rates and exchange rates have both short-run and long-run effects on housing prices while interest rates, diaspora remittance, construction output and urban population have no significant effects on housing prices both in the short and long run. However, only household income, interest rates, private capital inflows and exchange rates have a significant effect on housing sales both in the short and long run. Furthermore, household income, GDP, interest rates and exchange rates significantly affect ",10.0,5037c6e7e37adf5dda709f0a967bbe2816d70f064ee,10.2478/remav-2023-0004,Residential Real Estate as a Potential Hedge of Capital Against Inflation,2023,Real Estate Management and Valuation,Rafał Wolski,"ABSTRACT There is a belief among investors that real estate is an excellent way to protect capital from depreciation due to inflation. Research does not provide a clear answer as to whether this investors’ belief is correct, but some approaches indicate that simple econometric methods are not able, especially in the short term, to clearly indicate the existence of a relationship between inflation and property prices (Fogler, 1984). The purpose of the study –was to find the relationship between residential real estate prices and inflation in the Polish economic conditions. Methodology of the study - the study used cointegration analysis with the Engle - Granger test. The research was carried out in the period from the first quarter of 2009 to the fourth quarter of 2021. The real estate hedonic indices calculated by NBP (National Bank of Poland) and the actual and forecasted inflation rates published by the GUS (Central Statistical Office) and the NBP (National Bank of Poland) were used in the research. The result - the analysis led to a negative verification of the research hypothesis, as it could not be proved that real estate prices were related to the level of inflation during th",10.0,https://sciendo.com/pdf/10.2478/remav-2023-0004504doi_10_1111_j_1530_0277_2000_tb02079_x,10.1111/j.1530-0277.2000.tb02079.x,Children's Hedonic Response to the Smell of Alcohol: Effects of Parental Drinking Habits,2000,Alcoholism: Clinical and Experimental Research,Julie A. Mennella; Pamela L. Garcia,"Background: Previous research in our laboratory revealed that during the first year of life, infants who had more exposure to alcohol, as inferred from questionnaires about parental alcoholism and alcohol intake, mouthed an ethanol‐scented toy more compared with less exposed infants. The present study focused on older children (3.8–6.0 years) to determine whether their hedonic response to the odor of alcohol was related to the drinking habits of their parents. Methods: Age‐appropriate, game‐like tasks that were fun for children and minimized the impact of language development were used to examine their preferences and identification of a variety of odors, one of which was beer. Results: The children's preference for the odor of beer varied as a function of the escape drinking of their mothers alone or both parents. That is, children who lived in a household in which one or both parents drank alcohol to escape were significantly more likely to dislike the odor bottle that contained alcohol when compared with children whose parents did not drink to escape. This difference between the groups was odor specific. Additional analyses also revealed that the fathers of children who rejected",10.0,5055a166197b0080716abd6629055055d1f34e52684,10.5539/jsd.v5n9p85,"Hedonic Price Modeling of the Influence of Violent Ethno-Religious Conflict on Residential Property Values in Bauchi Metropolis, Nigeria",2012,,Y. Gambo,"The study examines the influence of violent ethno religious conflict on residential property values in Bauchi, Nigeria. The hedonic price model was used to capture the variable determining residential property values in the study area. Following collinearity observed among the initial 40 variables observed, a careful backward elimination process was used to whittle the variables to 13. The results show that conflict free area is the most influential variable determining rent. The study recommends among others, that Estate Surveyors and Valuers need to give cognizance and incorporate market response to social disorder in their valuation and also strategize and analyse in more depth, before advising clients on real property investment.",9.0,https://ccsenet.org/journal/index.php/jsd/article/download/17508/13235506doi_10_1017_s0033291700032785,10.1017/s0033291700032785,Memory and hedonic tone: ‘personality’ or ‘mood’ congruence?,1992,Psychological Medicine,Gabriel Desrosiers; David Robinson,"SYNOPSIS Four groups of healthy women matched for age and IQ were reliably classified on the Eysenck Personality Questionnaire as being either high or low in extraversion or neuroticism. As part of a larger research project, each participant was administered a range of psychometric measures together with three paired-associate learning lists varying in hedonic tone and difficulty levels together with the Beck Depression Inventory. Performance on the hedonic lists covaried with personality categories but, unlike what typically obtains in clinical patients, less association emerged between performance and mood states. Performance was particularly polarized in women scoring high in neuroticism but low in extraversion. Speculations about the apparent correlates of so-called mood congruence in healthy subjects are put forward and parallels are drawn with studies reporting the phenomenon in clinically depressed patients.",9.0,50795916cda8e653eb7f5bb04c61c29108ca1243245,10.24148/wp2008-12,Climate Change and Housing Prices: Hedonic Estimates for North American Ski Resorts,2009,,V. Butsic; E. Hanak; Robert G. Valletta,,9.0,https://doi.org/10.24148/wp2008-12508doi_10_1111_j_1475_4932_2009_00596_x,10.1111/j.1475-4932.2009.00596.x,House Price Measurement: The Hybrid Hedonic Repeat‐Sales Method,2010,Economic Record,CALLUM JONES,"This article supplements James Hansen’s (2009) recent article on the measurement of house prices in Australia. It provides a specific outline of the hybrid hedonic repeat‐sales measure, a model which combines the hedonic and repeat‐sales approaches examined in Hansen.",9.0,509e35df6beac37d7c9adac2e26f3747c4e386ca840,10.18559/978-83-66199-08-8,Teoretyczne i metodyczne aspekty wyznaczania indeksów cen na rynku mieszkaniowym,2018,,Radosław Trojanek,"In the book, an attempt was made to catalogue knowledge concerning the importance of research into the dynamics of housing prices for social and economic development. The analysis of the experience of countries with well-developed real estate markets in the aspect of building price indexes was carried out. Based on original databases of asking and transaction prices, price indexes were built, which were then subjected to numerous resistance tests. The aims of these research tasks were as follows: 1) to examine the quality of offers for sale as a source of information about changes in the real estate market, 2) to find out whether the repeat sales method can be used for building price indexes and to critically assess this method in terms of the stability of the obtained results, 3) to analyze hedonic methods and indicate the preferred one in terms of the ratio of the quality of results to how time-consuming and cost-intensive it is to build such indexes, 4) to establish the importance of methods and sources of information for building price indexes in different time horizons, 5) to identify how important it is for the fluctuation of price indexes if the cooperative property right to",8.0,https://wydawnictwo.ue.poznan.pl/books/978-83-7417-984-3/978-83-7417-984-3.pdf510d7b5827c11defb943de356027351395720383e9b,10.1155/2019/5370961,Evaluation of Residential Housing Prices on the Internet: Data Pitfalls,2019,Complex,Ming Li; Guo-Jun Zhang; Yun-Liang Chen; Chun-Shan Zhou,"Many studies have used housing prices on the Internet real estate information platforms as data sources, but platforms differ in the nature and quality of the data they release. However, few studies have analysed these differences or their effect on research. In this study, second-hand neighbourhood housing prices and information on five online real estate information platforms in Guangzhou, China, were comparatively analysed and the performance of neighbourhoods’ raw information from four for-profit online real estate information platforms was evaluated by applying the same housing price model. The comparison results show that the official second-hand residential housing prices at city and district level are generally lower than those issued on four for-profit real estate websites. The same second-hand neighbourhood housing prices are similar across each of the four for-profit real estate websites due to cross-referencing among real estate websites. The differences of housing prices in the central city area are significantly fewer than those in the periphery. The variation of each neighbourhood’s housing prices on each website decreases gradually from the city centre to the periph",8.0,https://onlinelibrary.wiley.com/doi/pdfdirect/10.1155/2019/5370961511doi_10_3406_ecop_2007_7674,10.3406/ecop.2007.7674,La rénovation de la Goutte d'Or est-elle un succès ? Un diagnostic à l'aide d'indices de prix immobilier,2007,Économie & prévision,Alain Trannoy; Alessandra Michelangeli; Fabrice Barthélémy,"L’opération de rénovation urbaine concernant le quartier de la Goutte d’Or dans le 18ème arrondissement de Paris a débuté en 1985 et se poursuit jusqu’à nos jours. Nous nous intéressons à l’évaluation d ’ une telle opération par le marché du logement. À cette fin, nous utilisons une base de données sur les prix de transaction (380 000 observations sur la période 1981-2001) qui nous permet d’étudier la dynamique de ce marché à travers l’estimation d’indices de prix hédoniques pour Paris, pour les quartiers concernés par la rénovation, et pour un quartier dit de contrôle. À l’échelon d’un quartier, un effet de court terme peut être détecté, mais cet effet ne semble pas durable. Au niveau plus fin de l’infra-quartier, il apparaît également que la rénovation a eu pour effet d’atténuer le caractère d’externalité négative que présentait la zone par rapport aux logements situés dans un voisinage immédiat.",8.0,512348d2e2e800e2a8a4a7e1ea3e2be9cb323e49b95,10.1080/00036846.2019.1640858,"Residential property price differentials of waste plants: evidence from Beijing, China",2019,Applied Economics,Ying-Dan Mei; Li Gao; Pei-Yuan Zhang,"ABSTRACT As a primary source of urban pollution, waste plants release toxic gases and polluted waste water that can cause great harm to human health and contaminate water resources. The adverse impact of waste plants on environmental threaten the quality of life of surrounding residents which will be reflected in residential property values. In this study, we develop a hedonic price model to estimate the environmental externalities of waste plants based on a panel dataset for real-estate transactions in Beijing from 2011 to 2015. We apply fixed effects and a Heckman selection model to control for omitted variable bias and sample selection bias and then construct price counterfactuals for properties. The price differentials between expected and counterfactual prices are then calculated. Our empirical results suggest that waste plants negatively influence residential property prices. Additionally, the influences of other factors, such as school district, traffic convenience, and average housing area, on property prices are consistent with common sense, though they are weakened for properties within three kilometers of waste plants.",7.0,513doi_10_1590_s1413_80502009000100006,10.1590/s1413-80502009000100006,O impacto da violência no preço dos imóveis comerciais de Belo Horizonte: uma abordagem hedônica,2009,Economia Aplicada,Luiz Andrés Ribeiro Paixão,,7.0,514doi_10_3917_reru_034_0597,10.3917/reru.034.0597,Caractéristiques hédoniques et changement environnemental : la couverture de l'autoroute A1,2003,Revue d’Économie Régionale & Urbaine,Francis Calcoen; Didier Cornuel; Hervé Leleu,"Résumé L’objectif de ce texte est d’identifier l’impact éventuel de la couverture de l’autoroute A1 à Saint-Denis sur les prix des logements. Cette couverture induit une réduction notable des nuisances et une amélioration manifeste du cadre urbain. La méthode utilisée est celle des caractéristiques hédoniques : elle consiste à quantifier la contribution des différentes caractéristiques d’un logement à la valeur de celui-ci. La couverture de l’A1 représente une nouvelle caractéristique des logements situés à proximité, et non la variation du volume d’une caractéristique existante. Pour tenir compte de cette caractéristique nouvelle et de son caractère commun à tous les logements de la zone, on a développé deux stratégies d’estimation différentes. La première considère l’impact global à l’aide de variables dichotomiques ; l’impact est alors chiffré à environ 16 % de la valeur moyenne des appartements dans la zone directement concernée. La seconde stratégie intègre la seule amélioration phonique mesurée par la réduction des décibels pour chaque appartement. Dans ce cas, la valorisation apportée est estimée entre 7 % et 8 % de la valeur d’un appartement directement situé sur l’autorout",6.0,51553e40d305be8923ae2e5fdfd0442d5983b481e49,10.1016/j.sbspro.2011.07.019,Hedonic Analysis for Estimation of Condominium Rent Utilizing WEB Information,2011,,Takafumi Miura; Y. Asami,"Abstract Information in web is introduced to hedonic analysis for real estate rent. 23 wards in Tokyo are chosen for the data collection areas and rents of condominiums are estimated. To utilize the web site information, variables signifying areal reputation are generated from weblog data set. The results show that the contribution of such information varies from area to area, and that especially in a well reputed areas the contribution tend to become larger. This suggests that such information can be useful for hedonic analysis for well reputed areas, and qualitative aspects such as good townscape and sense of high class can be incorporated with this method to improve the accuracy of the rent/price estimation of real estate.",6.0,https://www.sciencedirect.com/science/article/pii/S1877042811013425/pdf516doi_10_3917_reco_623_0567,10.3917/reco.623.0567,Une remise en cause de la méthode des prix hédoniques en présence d'une segmentation de marché,2011,Revue économique,Marc Baudry; Masha Maslianskaïa-Pautrel,"Résumé Cet article s’intéresse à l’incidence de l’hétérogénéité des consommateurs dans le processus de formation des prix hédoniques, en particulier l’émergence d’une segmentation du marché. L’article met en évidence deux points importants : (i) dans le cas d’une hétérogénéité de groupe des acheteurs, ceux-ci se répartissent de manière endogène sur des segments différents du niveau de service de logement dont dépend le prix hédonique ; (ii) cette segmentation remet en cause la procédure d’estimation en deux étapes utilisée, en particulier, pour l’évaluation des biens environnementaux locaux.",6.0,517doi_10_1080_02815738408730036,10.1080/02815738408730036,"House price indexes: The hedonic technique, and some other methods applied to price movements of single family houses in Sweden",1984,Scandinavian Housing and Planning Research,Rune Wigren,,6.0,518doi_10_1080_19463138_2011_552942,10.1080/19463138.2011.552942,Contamination by the Israeli military industry and its impact on apartment sale prices in an adjacent Tel Aviv neighborhood: a hedonic pricing model study,2011,International Journal of Urban Sustainable Development,Itai Shelem; Doron Lavee; Nir Becker,,6.0,51922cd8babca0fc59f9a4e97ed6acdadd812c73b02,10.1108/jchmsd-07-2021-0121,"World heritage designation and residential property values: the case of Old Rauma, Finland",2022,Journal of Cultural Heritage Management and Sustainable Development,J. Amar; Tanja Tyvimaa,"PurposeThe purpose of this paper is to evaluate the impact of beneficial externality generated by the World Heritage List (WHL) on residential property values in order to offer new insights into heritage discourses.Design/methodology/approachThe study uses the hedonic price model to estimate empirically the difference in prices for residential properties located in the Old Rauma World Heritage. The study uses residential sales transaction data from the City of Rauma from January 2005 to September 2012 drawn from an online database called KVKL Hintaseurantapalvelu managed by the Central Federation of Finnish Real Estate Agencies.FindingsThe research results indicate a positive, but insignificant, relationship between the property sale prices (euros/sqm) and heritage designation. However, the total sale prices are higher in Old Rauma as the properties are significantly larger in Old Rauma compared to other properties in Rauma.Originality/valueStudies in heritage economics have assessed the influence of the property market on heritage listing and designation at either the national level, the local level or a mix of national/local levels. This paper contributes to the literature by ana",5.0,https://eprints.qut.edu.au/241182/1/139086185.pdf5209c7b029131e81f9cda55509d99191e712d2ac0b9,10.3390/jrfm17080375,"Hedonic Models Incorporating Environmental, Social, and Governance Factors for Time Series of Average Annual Home Prices",2024,Journal of Risk and Financial Management,Jason R. Bailey; W. B. Lindquist; S. Rachev,"Using data from 2000 through 2022, we analyze the predictive capability of the annual numbers of new home constructions and four available environmental, social, and governance (ESG) factors on the average annual price of homes sold in eight major U.S. cities. We contrast the predictive capability of a P-spline generalized additive model (GAM) against a strictly linear version of the commonly used generalized linear model (GLM). As the data for the annual price and predictor variables constitute non-stationary time series, we transform each time series appropriately to produce stationary series for use in the GAMs and GLMs in order to avoid spurious correlations in the analysis. While arithmetic returns or first differences are adequate transformations for the predictor variables, we utilize the series of innovations obtained from AR(q)-ARCH(1) fits for the average price response variable. Based on the GAM results, we find that the influence of ESG factors varies markedly by city and reflects geographic diversity. Notably, the presence of air conditioning emerges as a strong factor. Despite limitations on the length of available time series, this study represents a pivotal step tow",5.0,https://www.mdpi.com/1911-8074/17/8/375/pdf?version=17242936215212c5407aa9e4be625094e86d09832f1b597caca32,10.1590/s1679-39512005000300007,"O impacto da violência criminal urbana no preço dos imóveis residenciais na região da Tijuca, cidade do Rio de Janeiro: um estudo exploratório",2005,,Fernando José de Lacerda Carvalho; Celso Funcia Lemme,"Urban violence has become a major concern for politicians, corporate managers and ordinary people, following social and environmental degeneration in the largest cities in Brazil. In 1998, Inter-American Development Bank estimated that the total costs of urban violence for the Brazilian society were about 10,5% of the Gross Domestic Product. The objective of this paper was to estimate, with the support of a hedonic prices model, the impact of criminal urban violence on the market price of residential real estate in the district of Tijuca, city of Rio de Janeiro, Brazil. Two hedonic prices models have been used to evaluate both the impact of criminal violence in different districts of the city and the loss of value of houses and apartments due to the nearness of the slums in Tijuca. Main results were in accordance with common sense and previous studies. Readers must be advised that the results are very preliminary, because of the well-known problems with both the data on the Brazilian housing market and the hedonic prices model itself.",5.0,https://www.scielo.br/j/cebape/a/JjqCK3CYjNs5LtVJPQbKsfB/?lang=pt&format=pdf522doi_10_3406_ecop_2010_8020,10.3406/ecop.2010.8020,Évaluation de l’impact des politiques « Quartiers verts » et « Quartiers tranquilles » sur les prix de l’immobilier à Paris,2010,Économie & prévision,Matthieu Glachant; Benjamin Bureau,This study uses the hedonic-price method to assess the impact on residential property values of two policies implemented by the Paris municipality : “ Quartiers Verts ” (“ Green Neighborhoods ”) and “ Quartiers Tranquilles ” (“ Quiet Neighborhoods ”). Both policies aim to reorganize targeted neighborhoods in order to promote non-motorized transportation modes. The neighborhoods cover 18 % of the total Paris area. We find that the “ Quartiers Verts ” and “ Quartiers Tranquilles ” policies caused property values to rise 3 % and 1.5 % respectively.,5.0,523b8f5d9f2b69a84ab03e4397a8ace1820083589d3,10.1068/b38027,Hedonic Analysis for the Estimation of Condominium Rent Utilizing Web Information,2012,,Takafumi Miura; Yasushi Asami,,5.0,5245e37af8ef4d5af85377af315b096773f36257847,10.1007/s12076-019-00232-2,Hedonic pricing models and residual house price volatility,2019,Letters in spatial and resource sciences,G. Lisi,,5.0,525bac50578aee5b372338f68aa4c6500e7c0c26235,10.1007/s13147-015-0356-5,Immobilienmarkteffekte des Emscherumbaus?,2015,,Thomas K. Bauer; Rüdiger Budde; M. Micheli; U. Neumann,"ZusammenfassungIn Deutschland besteht ein erheblicher Mangel an wissenschaftlichen Erkenntnissen über die Immobilienpreiseffekte von Infrastrukturmaßnahmen in regionalen Kontexten. Mit einem Investitionsvolumen von mehr als 4,5 Mrd. Euro über den Zeitraum von 1991 bis 2020 ist die ökologische Aufwertung der Emscher im nördlichen Ruhrgebiet eines der größten Infrastrukturprojekte Europas. Unter Verwendung von geo-referenzierten Immobiliendaten von ImmobilienScout24, die mit weiteren geo-referenzierten Informationen angereichert wurden, analysiert der vorliegende Beitrag die kleinräumigen Immobilienpreiseffekte der mit dem Emscherumbau verbundenen marktrelevanten Aufwertung der örtlichen Standortqualität im Umbaugebiet für den Zeitraum 2007 bis 2011. Die empirische Analyse der Preisentwicklung in den Teilregionen und Gemeinden des Emscherumbau-Gebiets „Neues Emschertal“ und in Vergleichsregionen (sonstige Emscherregion, Ruhrtal) erfolgt dabei auf der Basis hedonischer Preisfunktionen. Die empirischen Resultate weisen darauf hin, dass der Emscherumbau bisher keine statistisch signifikanten Mietpreiseffekte zur Folge hatte. Bei Eigentumswohnungen sind hingegen positive Preiseffekte erk",4.0,https://doi.org/10.1007/s13147-015-0356-5526298786322ef938b6c42546d71394a6d94fd55f2f,10.1108/ijhma-04-2020-0034,Brokers’ list price setting in an auction context,2021,,R. Hungria-Gunnelin; F. Kopsch; Carl Johan Enegren,"Purpose – The role of list price is often discussed in a narrative describing sellers’ preferences or sellers’ price expectations. This paper aims to investigate a set of list price strategies that real estate brokers have available to influence the outcome of the sale, whichmay be many times self-serving. Design/methodology/approach – By analyzing real estate brokers’ arguments on the choice of the list price level, a couple of hypotheses are formulated with regard to different expected outcomes that depend on the list price. This study empirically tests two hypotheses for the underlying incentives in the choice of list price from the real estate broker’s perspective: lower list price compared to market value leads to the higher sales price, lower list price compared to market value leads to a quicker sale. To investigate the two hypotheses, this paper adopts different methodological frameworks: H1 is tested by running a classical hedonic model, while H2 is tested through a duration model. This study further tests the hypotheses by splitting the full sample into two different price segments: above and below the median list price. Findings – The results show that H1 is rejected for",4.0,https://www.emerald.com/insight/content/doi/10.1108/IJHMA-04-2020-0034/full/pdf?title=brokers-list-price-setting-in-an-auction-context52776feb784019e6572bfeac397b30f65d3ff452741,10.2139/ssrn.4605912,Investigating Inefficiencies in the German Rental Housing Market: The Impact of Disclosing Total Costs on Energy Efficiency Appreciation,2024,Social Science Research Network,Lisa Sieger,"Energy efficiency and renewable energy are key pillars of the energy transition that is high on the political agenda of governments in face of the climate crisis. Germany, however, is underperforming in its emissions reduction goals. There is still room for improvement, especially in the building sector – but this is often associated with high upfront investments. There is evidence that the market for energy efficiency in the German rental housing market is inefficient, resulting in underinvestment. To investigate these inefficiencies, this study estimates a hedonic pricing model combined with a total-cost-of-use perspective based on the observation of warm rents for a sample of 3,903,473 rental offers from 2014 to 2021. In a “perfect world”, the effect of the energy performance score given in energy performance certificates as an indicator of energy consumption or demand, respectively, is expected to be zero, as corresponding costs are already included in the warm rent. If the coefficient is significantly different from zero, it can be interpreted as measure for inefficiencies. The study further investigates whether disclosing heating costs in real estate advertisements could lead",4.0,https://doi.org/10.2139/ssrn.46059125280985fa0d73b7aa0fd8c8970b818210a7f68e28aa,10.15396/eres2018_271,Brownfield Areas and Housing Value: Evidence from Milan,2019,The Journal of Sustainable Real Estate,Lucia Gibilaro; G. Mattarocci,"The existence of brownfield areas inside a city has negative effects on the real estate market due to the decrease of the demand for real estate assets nearby for both the prices and rents.The impact could be different on the basis of the different type of real estate investment considered and normally the impact is expected to be higher for residential assets. The paper evaluates the economic effect of abandoned real estate in the city of Milan for the time period 1993-2016 and shows that the city is characterised by a concentration of abandoned/dismissed assets in some city districts. Using standard hedonic models, the paper shows that the existence of brownfield areas nearby a real estate asset affects negatively its price and the negative contribution on price could be even higher than some district/building features.",4.0,https://eres.architexturez.net/system/files/P_20180131231309_543.pdf529a27a2e4f9f6ad1d9d05ad188b0a5e20f75a15ebf,10.1093/oxfordhb/9780190279707.013.30,Does Crime Impact Real Estate Prices?,2018,,V. Ceccato; Mats Wilhelmsson,"This chapter examines the impact of crime and accessibility on housing prices. In particular, it assesses the effect of residential burglary on apartment prices in Stockholm, building on previous research that indicated residential burglary—not violence or vandalism—had the greatest effect on apartment prices in the Swedish capital. A review of the literature on hedonic modeling covering more than three decades shows that, despite different modeling strategies, these studies consistently find evidence that crime affects housing prices. Two measures of accessibility are used: a “global” distance decay from Stockholm city center and a “local” measure of accessibility to work expressed as travel costs. Results for all of Stockholm County confirm previous findings once limited to Stockholm municipality only, that residential burglary reduces apartment prices. However, such an effect varies across space and levels of accessibility.",4.0,530doi_10_7764_rcia_v28i2_437,10.7764/rcia.v28i2.437,A hedonic price model of Argentinean land prices Caracterización hedónica de los precios de tierra agrícola en la región pampeana Argentina,2001,International Journal of Agriculture and Natural Resources,Guillermo Donoso; Guillermo Vicente,"This article characterized land prices of the Pampean Region of Argentina employed a hedonic price model in order to value soil erosion. The methodology employs a linear hedonic price model to explain the rental rates of agricultural land, extending the model in order to consider variables associated with the relationships between economic agents due to the presence of asymmetric information. The results indicated that the variables associated with the relationships between economic agents due to the presence of asymmetric information were statistically significant. The value of each centimetre of soil lost through the process of erosion, estimated with the restricted linear model, was $0.53·centimetre-1. Additionally, the value of soil labour was $8,7/labour. The results were consistent with those of other researchers and were important to value the erosion process in the Pampean Region of Argentina.",4.0,531https://openalex.org/W1537415184,10.5281/zenodo.1071595,A Game-Theoretic Approach To Hedonic Housing Prices,2010,Zenodo (CERN European Organization for Nuclear Research),"Cielito F. Habito; Santos, Michael O.; Andres G. Victorio","A property-s selling price is described as the result of sequential bargaining between a buyer and a seller in an environment of asymmetric information. Hedonic housing prices are estimated based upon 17,333 records of New Zealand residential properties sold during the years 2006 and 2007.",4.0,https://zenodo.org/record/1071596532cbf33412e5793dcd323c80de240a7bc2645ab79e,10.32604/cmes.2022.018437,Research on the Impact of Market Concern for Real Estate Policy on Housing Prices: Evidence from Internet Search and Hedonic Price Theory,2022,Computer Modeling in Engineering & Sciences,Wenwen Zhou; Mengyao Chen; Yang Gao; Ruilin Feng,,4.0,https://file.techscience.com/ueditor/files/cmes/TSP_CMES-131-3/TSP_CMES_18437/TSP_CMES_18437.pdf53359a1872eca8f8697a739527375ba1a22843bf5bd,10.3846/ijspm.2025.24610,The housing price dynamics and macroeconomic factors: Evidence of Taiwan housing market,2025,International Journal of Strategic Property Management,Chih-Hsing Hung; Hui-Chuan Liu; Pei-Ran Su; Shyh-Weir Tzang,"The housing price in Taiwan has seen a sharp increase since 2020 after a long period of stability from 2011 to 2019. To provide a more granular analysis on this substantial rise of the housing prices since 2020 in Taiwan, we applied the hedonic pricing model to analyze the completed and presale residential housing across four types of houses: luxury, first-class, second-class and suite. By incorporating relevant macroeconomic variables from 2014 to 2022, we try to capture the demand of homebuyers across the three biggest cities in Taiwan. In the completed housing market, we find that the suite prices in Taipei and Taichung cities are more significantly affected by Taiwan’s continuing economic growth, whereas the suite prices in Kaohsiung city are hindered by its historically stagnant employment market. Notably, suite prices in Kaohsiung display greater sensitivity to construction cost changes and broader economic cycles compared to the suite prices in Taipei and Taichung. These findings highlight the unique dynamics of real estate markets in northern, central, and southern Taiwan, providing valuable insights for housing investors, prospective homebuyers in different regions and pol",3.0,https://journals.vilniustech.lt/index.php/IJSPM/article/download/24610/13013534d5df9fadf6e2beaa12043f6c43dd4c994cf4e6c1,10.54694/stat.2022.46,"Hedonic Price Methods and Real Estate Price Index: an Explanatory Study for Apartments Market in Belo Horizonte, Brazil, from 2004 to 2015",2023,Statistika: Statistics and Economy Journal,Luiz Andrés Ribeiro Paixão,"Brazil does not have an official real estate price index yet. A 2011 presidential decree stipulated for the Brazilian Institute of Geography and Statistics (IBGE) the assignment to create and spread a real estate price index for Brazil. In this paper, we test some different hedonic model methods to estimate quarterly price indices for apartments in Belo Horizonte, Brazil, from January 2005 to December 2015. Our goals are: i) to measure and compare the different hedonic methods; ii) to present some results that will contribute to the discussion about the development of an official real estate price index in Brazil. The empirical results corroborate the idea of intense apartment prices valuation in Belo Horizonte, mainly between 2007 and 2011, when the annual price index growth remained above 20%. These results cast light on the potential use of both hedonic methods and administrative data base to construct an official real estate price index for Brazil.",3.0,https://doi.org/10.54694/stat.2022.46535doi_10_19053_22565779_2446,10.19053/22565779.2446,Valoración hedónica de la vivienda. Una aplicación con variables ambientales,2014,APUNTES DEL CENES,Duván Emilio Ramirez Ospina; Lázaro Valencia Giraldo,"Mediante la utilización de técnicas de econometría espacial se estimó el efecto que tienen algunas variables ambientales en el precio de la vivienda urbana de la ciudad de Manizales, teniendo como fuente la base de datos predial con uso vivienda, resultante de la actualización realizada por el IGAC en el año 2010. Se encontró en promedio que las viviendas cercanas a las áreas de riesgo reducen su precio hasta un 11%, las ubicadas próximas a una ladera en un 37% y el encontrarse en zona de tratamiento geotécnico hasta un 53%.",3.0,5362cf2801938ea2e1ebf1ead64a1ab662dfe9802d8,10.4028/www.scientific.net/amm.507.642,Study on the Affecting Factors of Housing Prices along Rail Transit Based on Hedonic Price Model - Case Study of Beijing Subway Line 5,2014,,Jun Wei; Yu-Guang Wei; Kun Jiang,,3.0,5370f710014221e4c8c6b78da1734ba8bde2d1e03f8,10.24018/ejbmr.2024.9.4.2201,Modeling Nairobi Residential Real Estate Prices using ARIMA,2024,European Journal of Business and Management Research,D. Chirchir; Mirie Mwangi; Cyrus Iraya,"538539540541The residential real estate market is big and affords investors investment opportunities. The price changes are key in determining the overall return. Structural and atheoretical models are the two main approaches to modeling real estate prices. Structural models link prices to fundamental factors such as economic indicators and property supply, amongst others. Atheoretical models attempt to predict prices by leveraging on the statistical properties of time series data and may be extended to augment fundamental factors. This study focused on time series modeling using ARIMA. The objective of the paper was to identify a suitable ARIMA model that is efficient in predicting house prices in Nairobi. The training data was for the period 2010Q3 to 2019Q2. The out of sample test data was for six quarters: 2019Q3 to 2020Q4. The Box-Jenkins methodology was adopted. Seven ARIMA models and six AR models were identified, estimated, and used in predicting prices using out of sample data. The study found out that AR models outperformed ARIMA models. The paper contributes to knowledge being among the first to apply ARIMA in Nairobi house market using hedonic house prices. The paper may inform",2.0,https://doi.org/10.24018/ejbmr.2024.9.4.2201542f1a1a2f5a66a286f7b30dd61a257f7b455faf7af,10.2139/ssrn.3374587,Who Cares? Future Sea-Level-Rise and House Prices,2019,Social Science Research Network,O. Filippova; Ilan Noy; Cuong Nguyen; Michael Rehm,"Globally, the single-most observable, predictable, and certain impact of climate change is sea level rise. Using a case study from the Kapiti Coast District in New Zealand, we pose a simple question: Do people factor in the warnings provided by scientists and governments about the risk of sea-level rise when making their investment decisions? We examine the single most important financial decision that most people make – purchasing a home, to see whether prices of coastal property change when more/less information becomes available about propertyspecific consequences of future sea level rise. The Kapiti Coast District Council published detailed projected erosion risk maps for the district’s coastline in 2012 and was forced to remove them by the courts in 2014. About 1,800 properties were affected. We estimate the impact of this information on home prices using data from all real estate transactions in the district with a difference-in-differences framework embedded in a hedonic pricing model. We find that the posting of this information had a very small and statistically insignificant impact on house prices, suggesting people do not care much about the long-term risks of sea-level ",2.0,https://ir.wgtn.ac.nz/bitstream/123456789/20951/1/Working%20Paper.pdf54354601675695b72308bcf7c6d5b76fd128f2712b2,10.7172/1733-9758.2016.20.11,Analiza wpływu lokalizacji stacji metra warszawskiego na ceny mieszkań na przykładzie dzielnicy Ursynów w Warszawie,2016,Studia i Materiały Wydziału Zarządzania UW,Marcin Torzewski,"The Warsaw metro plays a key role in the public transport system of the capital: on the one hand, it significantly reduces travel time from peripheries of city to the centre, and on the other hand it makes it easier to commute inside the city. Therefore one could expect that the positive aspects of metro existence should be capitalized by the nearby property values. The purpose of this article is to present the results of an empirical analysis on the impact of the Warsaw metro stations (I line) location on property prices, based on the primary residential market of Ursynów district (Warsaw). The main hypothesis assumes that the distance of a property from the subway station negatively affects a property price. To examine this relationship a hedonic pricing model is applied. Moreover, instead of the traditional approach to measure the distance with the Euclidean metric, the distance between the metro station and the property is measured with the use of GPS module. The results confirm the research hypothesis, showing that an increase of 1 km in the distance between the metro station and the real estate leads to the decline in the property price by approximately 172 PLN/m2 or 2.35%.",2.0,https://doi.org/10.7172/1733-9758.2016.20.115442aea8e1410dfeddfc0fb8cc1c3826254b7f60d3e,10.13060/23362839.2022.9.1.538,Self-reported and Market Home Values in Housing Wealth Inequality Measurement: Evidence from Warsaw and Prague,2022,Critical Housing Analysis,Mateusz Tomal,"This paper aims to examine whether self-reported home valuations can be a substitute for objective market data in studies on the level of housing wealth inequality. In order to achieve this aim, information on subjective values of flats and their features in Warsaw (Poland) and Prague (Czechia) was used. Next, hedonic models were estimated to calculate the objective values of these residential properties. The results indicated that, on average, homeowners overestimated their real estate by 2.10% in Warsaw and underestimated by 5.49% in Prague. Finally, using tests for the equality of variances, it was examined whether the level of housing wealth inequality differed significantly when calculated using subjective and objective home values. The findings showed that self-reported home values cannot serve as a perfect proxy for market values when assessing the level of housing wealth inequality in both cities.",2.0,https://doi.org/10.13060/23362839.2022.9.1.538545doi_10_17230_ingciencia_17_34_2,10.17230/ingciencia.17.34.2,Determinantes del precio de la vivienda nueva en Bogotá para el año 2019: una aproximación a través de un modelo semiparamétrico de regresión espacial,2021,Ingeniería y Ciencia,Jurgen Toloza-Delgado; Oscar Melo-Martínez; Juan Azcarate-Romero,"Este trabajo toma como punto de partida los recientes avances en el campo de la econometría espacial para desarrollar un modelo de regresión semiparamétrico que permite la inclusión de no linealidades y el modelamiento de la heterogeneidad espacial a través de una función bidimensional que depende de las coordenadas geográficas. La metodología se aplica en un modelo hedónico para el precio de la vivienda nueva en Bogotá donde se obtiene un ajuste destacable, en términos del error cuadrático medio y el R2. El resultado empírico muestra que el estrato, la condición de entrega y el estado constructivo afectan el precio de manera lineal, mientras que el área, y las distancias a parques, vías y estaciones de Transmilenio presentan resultados no lineales; además se logró modelar la tendencia espacial que representa la ubicación sobre el valor de la vivienda, evidenciando un incremento hacia el nororiente de la ciudad. Así, se concluye que el modelo estimado permite medir de manera flexible la relación entre las variables explicativas y la dependiente, estableciéndose como una buena alternativa para entender la formación de los precios en el mercado inmobiliario.",2.0,546doi_10_1080_21711976_2022_2085383,10.1080/21711976.2022.2085383,"The effect of housing problems on older people’s subjective well-being in 21 European countries (547 <i>Los efectos de los problemas de vivienda sobre el bienestar subjetivo de las personas mayores en 21 países europeos</i>548 )",2022,PsyEcology: Bilingual Journal of Environmental Psychology,Sara Bahnini; Sibila Marques; Daniela Craveiro; Maria-Luísa Lima,"Housing has been acknowledged as a basic human need with an impact on health and well-being. Since older people tend to be more exposed to features in their home environment, it is important to identify specific vulnerabilities. This study used cross-sectional data of 40,185 respondents from the 2014 European Social Survey Round 7 to explore the relationship between housing problems, age group (≤ 70 years and > 70 years) and evaluative (life satisfaction) and hedonic (happiness) dimensions of subjective well-being (SWB) of 21 European countries. Housing problems were significantly associated with lower levels of happiness and life satisfaction (LS) in a multilevel model. The age group was found to be a moderator of that association. When exposed to housing problems, older people (> 70 years) presented lower levels of happiness than younger adults (≤ 70 years). These findings shed light on the differentiation of age groups and call for maintenance and improvement of housing conditions in later life, aiming to promote well-being.",2.0,549https://openalex.org/W2606109541,10.17310/ntj.2017.1.07,HEDONIC PRICES AND EQUILIBRIUM SORTING IN HOUSING MARKETS: A CLASSROOM SIMULATION,2017,National Tax Journal,Soren Anderson; Michael D. Bates,"We introduce a classroom simulation to teach core concepts in hedonic price analysis. Students decide where to live in order to maximize utility. Locations differ in two dimensions: school quality and environmental quality. Endogenous housing prices in each location equilibrate the market. The simulation demonstrates the power of hedonic analysis, as well as its limitations and assumptions. It is fun, engaging, and accessible for both undergraduate and graduate students. We provide materials for implementation in an online Appendix.",2.0,https://escholarship.org/content/qt8hf50446/qt8hf50446.pdf?t=qa7t2j550d54dfad63a4d4e9c721eb92041d405c474a4a892,10.22456/2176-5456.10548,VARIAÇÃO QUALITATIVA E ÍNDICES DE PREÇOS NA ANÁLISE DO COMPORTAMENTO RECENTE DOS ALUGUÉIS RESIDENCIAIS EM PORTO ALEGRE (1994-1997),2009,,M. A. I. González,"Rental market segment of real estate is very sensible to macroeconomic and law national situation The Brazilian ""Real Plan"" is a recent example of government intervention on economy, and over real estate market. This paper investigates the influence of this stabilization plan on values and offer number of residential apartments to rent in Porto Alegre city, comparing the values before and after your edition by statistical data and hedonic models.",2.0,https://seer.ufrgs.br/AnaliseEconomica/article/download/10548/6189551doi_10_14295_transportes_v26i3_1628,10.14295/transportes.v26i3.1628,Aplicação da teoria de preços hedônicos para avaliação da influência da caminhabilidade no preço de venda de imóveis residenciais,2018,Transportes,Shanna Trichês Lucchesi; Ana Margarita Larranaga Uriarte; Helena Beatriz Betella Cybis,"O objetivo deste trabalho é avaliar a influência da caminhabilidade no preço de venda de imóveis residenciais, através de um estudo de caso na cidade do Rio de Janeiro. As análises foram conduzidas através de uma abordagem hedônica, utilizando modelos de equações estruturais para construções das variáveis latentes de características não observáveis. Nesse caso enquadra-se a caminhabilidade e a segurança pública, inclusas no modelo testado. Essa metodologia possibilitou a análise da estrutura das variáveis latentes, suas relações mútuas e com o preço dos imóveis. Os resultados obtidos mostram que o preço do metro quadrado de imóveis residenciais à venda na área de estudo cresce conforme aumenta a caminhabilidade. A segurança pública, a declividade viária e a presença de construções aprazíveis foram identificadas como os fatores mais importantes na explicação da caminhabilidade e, consequentemente, na valorização do imóvel.",2.0,5523c8d020dead7349c9ea1d4cf7c5c16a018d717c2,10.1111/eufm.12200,Getting it right or getting it cursed: Auction prices in a residential real estate bubble,2018,European Financial Management,Clare Branigan; Cal B. Muckley; P. Ryan,"This is the first study to test for a winner’s curse in a bubble market. Our hand-collected sample comprises the entire sequence of bids and the experience of the winning bidder at Irish residential real estate auctions, prior to the collapse of the bubble. Portfolios of practitioner-selected self-similar properties and a hedonic pricing model facilitate benchmark property price estimation. We show neither real estate investors nor owner occupiers shade auction bids to avoid the winner’s curse. Winning real estate investors, however, pay more for properties. Thus, real estate investors ride the wave of a property bubble and potentially exacerbate it.",2.0,553https://openalex.org/W3211343985,10.12068/j.issn.1005-3026.2015.08.031,Shenyang Commercial Housing Price Index Based on Hedonic Price Model,2015,Journal of Northeastern University,Liang Zhao,,2.0,5540433211e198b2d2dbb31ca19d5864c399716ac63,10.14744/megaron.2019.04875,Literature Survey Regarding with the Affects of Metro Lines On House Prices,2019,,Kamil Demircan; Senay Oğuztimur,"Giriş Metro projeleri hız, konfor, güvenlik, güvenilirlik gibi parametrelerden dolayı sosyoekonomik açıdan oldukça önemli etkiler ortaya çıkarmaktadır. Gelişmiş ülkelerde 19. yy sonu itibariyle başlayan raylı sistem altyapı hizmetleri, ülkemizde ancak 20. yy sonlarına doğru hız kazanmıştır. Kamu sektörü harcamaları yerel ve merkezi ölçekte incelendiğinde bütçelerin önemli bir kısmının ulaştırma sektörü ihtiyaçları için harcandığı görülecektir. Örneğin, İstanbul Büyükşehir Belediyesi, her yıl bütçesinin yaklaşık %55–60’lık bir kısmını ulaştırma hizmetlerine harcamakta olup, bunun çok önemli bir kısmı da raylı sistemlere ayırmaktadır. Raylı sistem yatırımları, maliyet açısından oldukça yüksek bütçeler gerektirmektedir. Örneğin Türkiye’de bir metro hattının ortalama km maliyeti 35 milyon EUR gibi düşünüldüğünde, bu kadar pahalı hizmet kararlarının doğru alınması önem taşımaktadır. Diğer taraftan kamu kaynaklarının sınırlı olması sebebiyle bu kadar büyük ölçekli yatırımların sadece kamu kaynakları ile hayata geçmesi oldukça zordur. Dolayısıyla metro yatırımları sebebiyle ortaya çıkan rantın bir şekilde kamuya döndürülmesi ve bu tür yatırımların finansmanında destekletici faktör olarak ",1.0,https://doi.org/10.14744/megaron.2019.0487555553d95c7bcde544f8b7d6954ce5976b91d378acc9,10.23860/diss-boslett-andrew-2016,Valuation of unconventional oil and gas development,2016,,Andrew J. Boslett,"Valuation of Unconventional Oil and Gas Development By Andrew J. Boslett Doctor of Philosophy of Environmental and Natural Resource Economics University of Rhode Island Public discourse regarding the local economic, environmental, and socio-cultural impacts of unconventional oil and gas development has been intense, especially in those areas of the country that are relatively unfamiliar with extractive industry. At the center of this debate is the contrast between the economic and financial benefits that accrue to local governments and landowners versus the environmental and socio-cultural costs borne by the public-at-large. Understanding how local citizens value unconventional oil and gas development is an important policy consideration for federal, state, and local governments. The overarching theme of this work, consisting of three manuscripts, seeks to contribute to the debate regarding the impacts of energy consumption and development. In two manuscripts, I use the hedonic valuation approach to value the benefits and costs of shale gas and oil development. I do this through the context of a statewide moratorium on development in New York and a long-standing severance between t",1.0,https://digitalcommons.uri.edu/cgi/viewcontent.cgi?article=1494&context=oa_diss556doi_10_20430_ete_v86i342_774,10.20430/ete.v86i342.774,Crimen y configuración urbana: una evaluación de precios de propiedades y bienestar en equilibrio general para la ciudad de Buenos Aires,2019,El Trimestre Económico,Omar O. Chisari; María Priscila Ramos; Sonia León,"Antecedentes: la inseguridad es uno de los flagelos que mayormente preocupan a los habitantes de Latinoamérica, una de las regiones más inseguras del mundo, debido a la violencia y a la falta de seguridad. Buenos Aires (Argentina) no es ajena a este fenómeno, dado que sus estadísticas recientes muestran una tendencia creciente de delitos contra las personas. La pobreza puede provocar una mayor virulencia del crimen; sin embargo, este último también acarrea costos sociales y económicos que impactan negativamente sobre el bienestar y la pobreza. Este trabajo aborda esa segunda relación a partir del estudio de los cambios en la configuración urbana y su consecuente impacto sobre el bienestar de los hogares y las firmas debido al incremento del crimen en la ciudad de Buenos Aries.Metodología: se desarrolló un modelo de equilibrio general computado (EGC) con características urbanas para Argentina en 2011, con el fin de medir los cambios de bienestar generados por el crimen y los costos que éste produce sobre el mercado inmobiliario. Se tomaron los precios de los inmuebles como el mecanismo de transmisión entre el crimen y el bienestar y, con base en esto, se estimaron elasticidades entr",1.0,5571183c5997a549fc2e303ece3a139806d021128bf,10.37745/ijcecem.2013/vol13n31730,Urban Infrastructure and Commercial Property Rental Values in South-East Nigeria: A Comparative Analytical Assessment of Their Interrelationship,2025,"International journal of civil engineering, construction and estate management",Innocent Franklin Makata; Ifeanyi Fidelis Emoh; Chinelo P. Igwe,"Urban infrastructure serves as a crucial foundation for real estate market performance, particularly in rapidly urbanizing regions. This study examines the relationship between urban infrastructural variables and commercial property rental values in South-East Nigeria, focusing on Onitsha (Anambra State) and Aba (Abia State) as representative commercial hubs. Using the Hedonic Pricing Model (HPM), the research identifies and quantifies how key infrastructural factors road networks, drainage systems, water supply, security, parking space, internet connectivity, and digital utilities influence the rental values of shops and offices between 2015 and 2025. Data were collected through structured questionnaires and analyzed using mean responses and econometric estimations. The findings indicate that urban infrastructure significantly and positively influences commercial property rental values in both cities, with stronger effects observed in Onitsha. Specifically, a one-unit improvement in infrastructural quality increases annual rental values by an average of ₦17,000–₦20,000 in Onitsha and ₦14,000–₦16,000 in Aba. Among the infrastructural variables, road networks (₦21,000 in Onitsha; ₦1",1.0,https://eajournals.org/ijcecem/wp-content/uploads/sites/45/2025/11/Urban-Infrastructure.pdf5585760fac704f0d25e4b375d62d83eaed6a39d809c,10.54517/ec3406,The impact of public transportation accessibility on apartment prices in Shiraz: A comparative study in a developing urban context,2025,Eco Cities,Hamed Najafi Kashkooli; Ali Soltani; Farzane Javidi,"<p><span lang=""EN-US"" style=""font-size: 10.0pt; font-family: 'Times New Roman',serif; mso-fareast-font-family: 宋体; mso-fareast-theme-font: minor-fareast; mso-ansi-language: EN-US; mso-fareast-language: ZH-CN; mso-bidi-language: AR-SA;"">Public transportation accessibility can significantly affect real estate prices. However, the extent of this impact can greatly vary depending on the specific urban context. This study investigates the impact of accessibility to public transportation on apartment prices in two distinct districts of Shiraz, Iran: District 1, which has the highest vehicle ownership per capita, and District 8, which has the lowest. Using 182 transactions from District 1 and 65 transactions from District 8, a hedonic pricing model was employed to analyze data on apartment prices, area, age, number of bedrooms, and distances to the nearest bus stop, subway station, park, hospital, school, and the Central Business District. The findings revealed distinct patterns across the districts. In District 8, where vehicle ownership per capita is low, accessibility to bus stops significantly influenced apartment prices. Conversely, accessibility to subway stations did not significan",1.0,https://aber.apacsci.com/index.php/ec/article/download/3406/3814559d5598ba7050c114f960b47b504185e16d8369426,10.12928/optimum.v15i2.11478,Model development for estimating sales adjusment magnitude in real estate appraisal using hedonic price model and paired data analysis,2025,Optimum Jurnal Ekonomi dan Pembangunan,Bagaskara Bagaskara; F. Prativi,"This study aims to develop a model that can identify a reference for determining the adjustment magnitude in the market approach used in appraisal practice. Currently, it is challenging for appraisers to accurately determine the extent of these adjustments. Data collection in this study employed purposive sampling, ensuring that the criteria and specifications closely mirrored the data collection process in appraisal practices. The researcher selected three districts to capture any possible variations in location affecting the adjustment magnitude. The collected data was regressed to build a hedonic price model, which was later analyzed using the paired data analysis method to meet ideal model conditions and specifications. The results of this study demonstrate that the adjustment magnitude in the market approach can be identified from price differences resulting from variations in a single attribute. The highly heterogeneous housing market conditions in Indonesia present significant challenges for conducting paired data analysis in a practical context. Artificial conditions were required to meet the specifications for paired data analysis. The implication of the study that apprais",1.0,http://journal2.uad.ac.id/index.php/optimum/article/download/11478/56695600f2de5b5fe7393008b1db2d80a8262b28c156f36,10.2478/remav-2024-0022,"Price Model for Transit-Oriented Developments in Kuala Lumpur, Malaysia",2024,Real Estate Management and Valuation,Abdulazeez Adam Muhammad; B. Burhan; Edie Ezwan Mohd Safian,"Abstract The idea of Transit Oriented Development (TOD) was to foster urban development around railway networks and has been strategically built and applied since the late 19th and early 20th centuries. Previous studies reported positive, negative, or irrelevant impact of TOD on prices of surrounding real estate. The study aims to evaluate the impact of TOD on property prices in Kuala Lumpur. It utilizes secondary data obtained from the National Property Information Centre (NAPIC), Malaysia, after data cleaning, Nine Thousand Five Hundred and Forty-Nine (9549) Housing Transactions between the periods 2009 and 2018 were used. The research design was quantitative, and the Hedonic Price Model (log-log model) was used for data analysis. The model revealed a multiple correlation coefficient (R) of 0.891 and an adjusted R2 value of 0.794, indicating that 79.4% of the house price variation is explained by the model. The F value of 996.921, which is statistically significant, indicates that the predictors significantly combine to predict the price of TOD areas in Kuala Lumpur. The coefficient for LnTrainsta is 0.056, indicating that there was a positive relationship between residential hou",1.0,https://doi.org/10.2478/remav-2024-002256113561959c7aabb108ebf10b83cf499e51f169500,10.3389/frevc.2025.1603746,Flood risk management and real-estate prices: between prevention and “crowding out” effect,2025,Frontiers in Environmental Economics,Jeanne Dachary-Bernard,"Adapting to climate change is a key challenge for metropolis, and it partly deals with population location and flood risk management. The objective of this article is to understand the way flood risk is actually taken into account in residential choices. To this end, we measure how flood risk influences property prices and in particular, we target two specific flood management public instruments: the flood risk prevention plan (PPRI) and the public insurance mechanism (CatNat). We applied the hedonic price method over the period 2011–2016 to the French metropolitan area of Bordeaux, extended to include its neighboring estuarine municipalities. We show that flood risk zoning produces an expected significant deflating effect on prices whereas the CatNat system's insurance mechanism would appear to have a perverse effect. These results highlight an interesting crowding-out effect on the residential market that we finally discuss.",1.0,https://www.frontiersin.org/journals/environmental-economics/articles/10.3389/frevc.2025.1603746/pdf562c77cafafe33e406e967c96ca9c80c10ed69a973f,10.2139/ssrn.3948243,The quality-adjusted price evolution of houses and apartments in Flanders from 2005q1 until 2021q2,2021,Social Science Research Network,S. Damen,"I construct a quality-adjusted hedonic house price index for Flanders from 2005q1 until 2021q2. I use data from a large franchise network of real estate brokers with transactions from 37,850 houses and 12,200 apartments. The results indicate that the average yearly nominal house price growth was equal to 4.6% (2.1% after inflation). However, the yearly growth rate differs substantially in different sub periods with above average growth rates in 2005-2008 and 2017-2021 while nominal price growth was in line with inflation from 2009 until 2016. The price evolution of apartments is very similar to houses. In addition to a hedonic price index, I also calculate the evolution of the time-on-market and sale-to-list ratio as new indicators to assess the housing market. Looking at the impact of the COVID-19 crisis on the housing market, we see that house prices increased faster outside central cities since the second half of 2020. For apartments, there is a strong increase in the price of apartments at the coast and a strong decrease in the time-on-market of apartments with a terrace in comparison to apartments without a terrace. It is, however, too early to conclude whether or not these ch",1.0,56302b84dd0a027ec02c0f45ce0090bbf5277e1b31c,10.47494/pbft.2021.1.16,Comparison of House Price Analysis in DKI Jakarta and Surabaya with Minitab Software 17.0,2021,Procedia Business and Financial Technology,Endah Tri Wahyuningtyas; Dina Anggraeni Susesti,"This article discusses the comparative analysis of factors affecting the selling price of houses between the city of DKI Jaka rta and the city of Surabaya. The study uses quantitative methods through Minitab 17.0 software. Analysis of research uses hedonic prices with data obtained from home sale sites. The findings of this study are factors that affect housing prices in Surabaya, the distance between the house and the town hall and the main road, electrical, namely the amount of electric power, land area, distance between the house and public facilities, and information on the quality of housing materials. While the factor determining the selling price of houses in DKI Jakarta is the distance between the house and the main road, land area, PDAM water and road type or the type of road location of the house",1.0,https://doi.org/10.47494/pbft.2021.1.1656414d7bf11f3a4018b64ecc861a831d3a86dbdbfef,10.15396/eres2019_155,New Technology and Data in Real Estate,2019,26th Annual European Real Estate Society Conference,Marcelo Cajias,"Initial yields are used by institutional investors and investment managers to assess the pricing conditions of real estate markets. In contrast to commercial real estate, initial yields in the residential sector are hard to quantify, especially due to the lack of comparables. In the era of digitalisation and big data residential assets are mostly brought to the market via digital multiple listing systems. The paper develops semiparametric hedonic models for extracting the implicit information to calculate residential net initial yields for both a buy-to-hold and rental investment strategy based on more than 3 million observations. The results are robust and confirm that the pricing conditions of residential markets are captured by the hedonic approach, enhancing the transparency in real estate markets.",1.0,https://eres.architexturez.net/system/files/P_20190130231103_4711.pdf565b88afeb2471931489cb2ecebf639ca050c46d18f,10.4028/www.scientific.net/amm.488-489.1463,Design of Real Estate Price Index System Based on Hedonic Price Method,2014,,Yun Du; Hui-Qin Sun; Suying Zhang; Qiang Tian,"Urban real estate price index (hereinafter referred to as UREPI) is a basic data of the real estate market, its accuracy is very important for enterprises, consumers and housing management department. In view of current research level here in China and popular models, the UREPI system is compiled based on the Hedonic price method because of its advantages such as calculation simple and sample easily etc. Compiled by Eviews the system has three main stages: the data standardization, the benchmark model establishment and the application of two periods chained update method to update price series. UREPI system is combined with the real deal, so it can be used to analysis the market accurately. The results completely meet the design requirements.",1.0,https://doi.org/10.4028/www.scientific.net/amm.488-489.1463566doi_10_12662_2359_618xregea_v9i2_p60_70_2020,10.12662/2359-618xregea.v9i2.p60-70.2020,DETERMINANTES DE PREÇOS NO MERCADO IMOBILIÁRIO À LUZ DO MODELO HEDÔNICO,2020,Revista Gestão em Análise,Regileuza Rodriques Campelo Bezerra Paz; Liana Holanda Nepomuceno Nobre; Fábio Chaves Nobre,"O mercado de imóveis é um segmento que contribui para o crescimento e desenvolvimento de uma região, pois é um dos setores com maior capacidade de impulsionar a economia, dada sua capacidade de gerar empregos e renda. O presente trabalho teve como objetivo geral analisar a formação de preços do mercado imobiliário de Mossoró-RN e, visando alcançá-lo, traçaram-se os seguintes objetivos específicos: descrever as variá veis determinantes na formação do preço dos imóveis e compreender o impacto de cada variável sobre o preço dos imóveis. A amostra compôs-se de 478 imóveis da cidade de Mossoró-RN, utilizando-se dados baseados nos registros disponibilizados por seis sítios de imobiliárias da cidade. Para análise dos dados, utilizou-se, inicialmente, a estatística descritiva das variáveis e, em seguida, a regressão linear múltipla. Os resultados sugeriram que o valor do imóvel sofre influência diretamente da classificação do bairro, da área do imóvel (m²), do número de salas, do número de garagens, do número de dormitórios, do número de suítes, do número de cozinhas e do número de banheiros. As variáveis independentes anteriores também explicaram 66,1% da variação do preço do imóvel no mu",1.0,567doi_10_33937_reveco_2021_173,10.33937/reveco.2021.173,La contaminación del aire y su efecto en el precio de la vivienda del AMM,2021,"Revista de Economía, Facultad de Economía, Universidad Autónoma de Yucatán",José Raymundo Galán González; Jorge Raúl Martínez Herrera; Joana Cecilia Chapa Cantú; Karla Ivonne Ramírez Díaz; Sara Hutchinson Tovar,"Se determinan los efectos de los cambios en los niveles de la contaminación del aire en el precio de la vivienda del área metropolitana de Monterrey (AMM) mediante la aplicación del modelo de precios hedónicos. La muestra está compuesta por 1,722 viviendas que se encontraban en venta durante el periodo abril 2017 a marzo de 2018 en el AMM. Entre los principales resultados se encuentra que un aumento de 10% en el porcentaje de días en el año por encima de la norma establecida para partículas menores a 2.5 micras1 reduce el precio de la vivienda 0.347%; lo que implica una disminución de 1,239 dólares en el precio de la vivienda promedio. En términos agregados, el incremento en 10% de partículas PM2.5 (Partículas menores a 2.5 micras) equivale a una pérdida de 1,572 millones de dólares para el AMM.",1.0,5687b8560b071e79644a2e7b542ff7f181c5641daa6,10.2139/ssrn.897323,The Demand for Educational Quality: Combining a Median Voter and Hedonic House Price Model,2006,,,,1.0,https://doi.org/10.2139/ssrn.897323569doi_10_3917_reru_084_0543,10.3917/reru.084.0543,Une mesure de la distribution de la solvabilité logement des ménages primo-accédants franciliens,2008,Revue d’Économie Régionale & Urbaine,Ingrid Nappi-Choulet; Tristan-Pierre Maury; Marion Cancel,"L’objet de cet article est d’analyser l’évolution de la capacité d’achat dans le logement ancien des ménages primo-accédants franciliens depuis 2000 et d’étudier s’il existe ou non des disparités de perte de solvabilité parmi les ménages primo-accédants. L’article propose un indice de prix hédonique adapté à la demande des primo-accédants qui permet de prendre en compte les types de logements spécifiques, notamment de faible surface, qui concentrent l’essentiel de la demande de ces ménages.",1.0,570eb59a3e0095394ea189d54583d1cb0b55cb9357d,10.15396/eres2014_35,Modelling micro-location variables for hedonic house price models,2014,,Ronald S. Weberndorfer; Wolfgang A. Brunauer,,1.0,571https://openalex.org/W3137516421,10.1007/978-981-33-4114-2_12,Evaluation of Hedonic Price Models that Explain Transit Induced Impact on Housing Prices,2021,Lecture notes in civil engineering,Karan Barpete; Arnab Jana,,1.0,5724b3fbd8b93888c863f362449878372d669ee7cce,10.47252/teniat.v9i1.399,"PEMBANGUNAN INDEKS HARGA HARTA TANAH WARISAN: KEDAI PRAPERANG (PW-SPI) PULAU PINANG, MALAYSIA",2021,International Journal of Creative Future and Heritage (TENIAT),Mohamad Hafiz Jamaludin; Suriatini Ismail; A. Ahmad,"Abstrak573Pengiktirafan Bandar George Town sebagai Tapak Warisan Dunia (TWD) UNESCO telah membawa kepada usaha pemuliharaan harta-harta warisan seperti pelaksanaan Pelan Pengurusan Warisan dan pewartaan Akta Warisan Kebangsaan 2005. Antara elemen warisan yang perlu dipelihara berkaitan harta tanah ialah kedai pra-perang. Kedai pra-perang merupakan kedai yang telah dibina dan dibangunkan sebelum perang dunia pertama pada tahun 1914. Ciri-ciri warisan yang ada pada kedai pra-perang perlu dipelihara dari segi ciri fizikalnya. Walau bagaimanapun, dengan arus pembangunan yang semakin pesat, semua usaha ini perlu penglibatan para pelabur dalam sektor harta tanah. Justeru, objektif kajian ini adalah untuk membangunkan Indeks Harga Kedai Praperang Pulau Pinang (PW-SPI) bagi mewujudkan indikator yang dapat membantu para pelabur dalam membuat keputusan pelaburan dalam pasaran harta tanah praperang. Kajian ini melibatkan pembangunan PW-SPI menggunakan Model Hedonik Laspeyres. PW-SPI yang dibangunkan membolehkan perbandingan secara grafik dibuat ke atas pergerakan harga harta tanah warisan di Pulau Penang. Ia menunjukkan bahawa bagi tempoh 2008-2014, harta tanah kedai praperang di Pulau Pinang m",0.0,http://journal.umk.edu.my/index.php/teniat/article/download/399/271574c30d7daeb064e3a1846a7f0fe32de25ea8c9a33e,10.1365/s41056-018-0023-3,Wahrnehmung des Energieausweises in hypothetischen und realen Mietentscheidungen auf dem deutschen Wohnimmobilienmarkt,2018,Zeitschrift für Immobilienökonomie,Bertram I. Steininger; Claudia Nadler; M. Franke; C. Pommeranz,"ZusammenfassungDie Immobilienbranche nimmt eine Schlüsselfunktion in der Klimaschutz- und Energiepolitik Deutschlands ein, da durch sie große Einsparungspotenziale bei Energieverbrauch und CO2-Emissionen identifiziert werden. Der Energieausweis stellt ein wichtiges Informationsinstrument dar, um Aufschluss über die energetische Qualität einer Immobilie zu erlangen. In der vorliegenden Studie werden die Wahrnehmung und der Einfluss des Energieausweises anhand sich ergänzender Methoden untersucht: Experteninterviews, Choice-Based Conjoint-Analyse (CBCA) und hedonisches Preismodell. Neben der Analyse hypothetischer Mietentscheidungen bei Wohnimmobilien steht auch der Preiseffekt des Energieausweises in realen Mietentscheidungen im Fokus dieser Untersuchung. Die Ergebnisse zeigen zum einen eine vergleichsweise hohe Bedeutung der energetischen Qualität einer Immobilie bei der indirekten Ermittlung von Präferenzen im Rahmen der CBCA. Zum anderen ergibt sich aufgrund des vorhandenen Bewusstseins bei der realen Mietentscheidung ein positiver Preiseffekt für energetisch effiziente Wohnungen von bis zu 7,1 %. Eine Intensivierung der Preiseffekte nach Anpassung der gesetzlichen Rahmenbedingun",0.0,https://doi.org/10.1365/s41056-018-0023-357513a9f9d438c93631e37c42a70f18868aeb241c79,10.22610/jsds.v6i4.856,“Environmental Economics for a Sustainable Development†Evaluation of Environmental and Recreational Values of the Area Lezhe –Shengjin using Indirect Approximate Method “Hedonic Price Methodâ€,2015,,C. E. Imeraj; .. Ing.ZefImeraj,"The area of the project Lezhe –Shengjin has a combination of recreational tourism and industry development. Promotion of tourism and environmental values of Lezha is a bold undertaking for a region with a diversity of values. Stable ecological development impacts directly in the development of the inhabited area and in the standards of it, while reflecting also in the home prices. Project aims to identify and to study the basic areas of the ecosystem and to present the impact that has the environment to the economy, by analyzing of the home prices of those, their diversity and changes. Methodology that the project will use is based on an indirect approximate method “Hedonic Price Method”. The base of these methods lies on questioners made face to face with the residents of the region and a considerable part of the data collection would be the collaboration with the commune and municipality administration offices of the region. Firstly, the project members will identify specifically services and environmental goods that the project will assess. Meanwhile, the meeting with the head officer of the commune would be planned and a contract of collaboration with his office would be signed",0.0,https://ojs.amhinternational.com/index.php/jsds/article/download/856/856576193bde438c5978e543681c37cff3e5ef339a093d,10.2139/ssrn.3467401,Changes in Public Risk Perception after a Large Disaster: Evidence from the Housing Market,2019,Social Science Research Network,Shohei Yasuda; Michio Naoi; Norifumi Yukutake,"The unprecedented damage caused by the Great East Japan Earthquake and nuclear disaster greatly altered people’s awareness of risk not only in directly affected areas but also in unaffected areas as well. Changes in risk perception of future earthquakes can influence people’s location choice, which in turn can be capitalized into the real estate prices. This study focuses on the relationship between earthquake risk and real estate prices in unaffected areas before and after the earthquake in order to explore how large-scale natural disasters influence people’s perception toward disaster risk. We use large-scale property transaction data covering periods both before and after the earthquake, together with the earthquake risk indexes by the Tokyo Metropolitan Government, to estimate a hedonic model. Three features are worth noting about our data. First, our property data includes exact location of each property, so that the data can be matched with the geographical index of earthquake risk that is measured at the fairly detailed geographic level. Second, our data spans from 2008 to 2017, covering periods both before and after the 2011 earthquake. Third, given our very large sample si",0.0,5778830bc5d65a5ef00fa5737bd2892ba41ca0b6c6e,10.1108/ijhma-07-2024-0105,Forecasting residential real estate prices and energy usage in Flanders,2024,International Journal of Housing Markets and Analysis,Alesia Gerassimenko; L. De Moor; Laurens Defau,"578Purpose579Currently, residential forecasting literature is limited with few to no forecasting papers that consider residential prices and energy consumption for the selling and rental market within a single study. The purpose of this paper is to study the prices and energy usage for both markets by combining an explanatory model with the predictions of a predictive model, which will lead to a better understanding of the forecasting results.580581582Design/methodology/approach583This study presents an econometric comparison between 508,612 selling properties and 174,007 rental properties transacted in Flanders between January 2019 and December 2023. The authors study their prices and energy usage by combining the causal results of a hedonic price model (HPM) with the predictions of an autoregressive integrated moving average model (ARIMA).584585586Findings587The authors find that both markets are extremely sensitive to changes in related factors, whereby selling prices are primarily influenced by macroeconomic factors, but rental prices and especially energy usage are also sensitive to market standards. Policies that target energy efficiency can therefore steer its future trend. In addition, in line",0.0,https://biblio.vub.ac.be/vubirfiles/117830322/AAM_IJHMA_07_2024_0105.pdf5883c1b640cd02b0c9558e4460a9e03e7ba9242f28f,10.70382/sjber.v10i4.050,ASSESSMENT OF OBSOLESCENCE AND ITS IMPACT ON RESIDENTIAL PROPERTY VALUES: A CONCEPTUAL PERSPECTIVE,2025,Journal of Biodiversity and Environmental Research,Jamila Usman; Wali Rakiya Ibrahim; Z. Usman,"Obsolescence remains a significant determinant of residential property value decline, particularly in developing urban environments where maintenance culture, infrastructure, and policy frameworks are weak. This conceptual paper examines the nature, dimensions, and implications of obsolescence on residential property values, with a focus on providing an integrated theoretical understanding of the phenomenon. Drawing on existing literature, the study identifies physical, functional, economic, technological, and environmental obsolescence as interrelated forces that influence property market performance. Using the property life cycle theory and hedonic pricing model as conceptual anchors, the paper argues that obsolescence accelerates value depreciation by reducing a property’s utility, aesthetic relevance, and competitiveness within the market. The analysis further highlights that contextual factor such as poor regulatory enforcement, economic volatility, and limited modernization amplify the adverse effects of obsolescence in emerging real estate markets like Suleja, Niger State as the case study. The paper concludes that effective maintenance management, policy intervention, and a",0.0,https://ssaapublications.com/index.php/sjber/article/download/848/10955895084596c4561bfd8b1be0c0d0733c9e0b621bd69,10.2478/remav-2026-0012,Inflation and Real Returns on Local Housing Markets in Poland – Empirical Relationship,2026,Real Estate Management and Valuation,I. Dittmann,"Abstract The common belief that real estate investments are an inflation hedge has been repeatedly challenged by scientific research. It was found that this issue requires in-depth research. Individual researchers have expanded their research to include various specific themes. However, there has been no research focused on the empirical relationship between the inflation rate and the real return on housing market investments. This study aimed to examine this relationship in detail within the framework of the five research questions formulated. Therefore, the article addresses this issue, considering different investment horizons (from 1 to 15 years) and 16 local housing markets in Poland. The research period covered was from 3Q 2006 to 4Q 2024. Based on hedonic price indices of 1m², the moving observation window method was used to obtain time series of real returns on local markets. Then, linear correlation and determination coefficients were calculated, and appropriate statistical tests were applied. It was found that: 1) the examined relationship was heterogenous, and dependent of the investment horizonas well as inflation regime; 2) the extent to which the CPI explained real re",0.0,https://reference-global.com/download/article/10.2478/remav-2026-0012.pdf590e88e0e83a9a3bcf30b4052d3b162b81b21a77a45,10.24215/16699513e149,"Infraestructura verde urbana: valoración del impacto de los bosques urbanos en los partidos de La Costa, Pinamar y Villa Gesell (provincia de Buenos Aires, Argentina)",2025,Revista de la Facultad de Agronomía,G. Denegri; Gustavo Acciaresi,"The objective of this work was to estimate the annual value generated by the tree component of the urban green infrastructure in the districts of La Costa, Pinamar and Villa Gesell (Buenos Aires province, Argentina) and to quantify the financial benefit associated with some actions of its management, applying the hedonic equations already published by the authors. A model was constructed that relates tree cover, number of dwellings, temporary rental values and the coefficient of two hedonic functions: one linear and the other log-linear (log-lin). Tree cover was calculated from 200 plots obtained from satellite images. The financial effect resulting from two resource management actions was also studied, using a benefit-cost analysis through two simulations: urban tree plan and real estate development. The value obtained for the tree component for the three districts ranges between 92,075,918 and 126,937,710 USD per year. Resource management with the linear model yields an NPV that fluctuates between 12,700 and 16,300 USD/ha and an IRR between 44 and 23%; the log-lin model generates an NPV between 4,200 and 5,700 USD/ha and an IRR between 18 and 29%. It is concluded that the tree co",0.0,https://revistas.unlp.edu.ar/revagro/article/download/16651/19888591doi_10_29327_2290393_5_1_1,10.29327/2290393.5.1-1,Diagnóstico de multicolinearidade em modelos hedônicos para avaliação em massa de imóveis para fins tributários,2026,Revista Valorem,Antônio Augusto Ferreira de Oliveira; Sandro Ricardo Vasconcelos Bandeira,"Este artigo tem como objetivo aprimorar o diagnóstico da multicolinearidade em modelos hedônicos utilizados na avaliação em massa de imóveis para fins tributários, superando abordagens restritas à matriz de correlações ou ao fator de inflação da variância (VIF) considerado isoladamente. Para tanto, propõe-se uma abordagem integrada que articula diagnósticos locais e globais, combinando matriz de correlações, VIF, número condicional e decomposição de variância segundo Belsley, Kuh e Welsch (BKW). A metodologia permite distinguir a multicolinearidade essencial, decorrente de quase-dependências entre variáveis explicativas, da multicolinearidade não essencial, associada a problemas de escala, parametrização ou alinhamento de regressoras com o intercepto. A aplicação empírica demonstrou que a reparametrização conceitualmente orientada reduziu a correlação entre variáveis físicas do terreno, diminuiu o maior VIF e melhorou o condicionamento global da matriz de regressoras, tornando o modelo mais estável e interpretável. Os resultados reforçam que a mitigação da multicolinearidade não deve ser confundida com a eliminação mecânica de variáveis, especialmente em mercados urbanos, nos quais",0.0,592e0cb3a856620b68a4e20a5a36eb5051d5e4ad1c4,10.3390/books978-3-7258-4325-1,Studies on the Real Estate Market and Property Management in the Post-pandemic Era,2025,,,"This reprint provides a comprehensive analysis of the evolving landscape of real estate markets and property management in the wake of the COVID-19 pandemic. It explores how the global health crisis accelerated structural changes in housing demand and supply, housing affordability, and the rental market, as well as assessing the long-term implications for urban planning, investment strategies, and asset management practices.Combining empirical research with theoretical insights, this reprint examines shifts in housing demand, Build-to-Rent, behaviour changes, and the role of property educators in the digital technology era. Through case studies and comparative analysis, it highlights both global patterns and localised responses to the crisis. A novel data analytic methodology for analysing real estate brokerage markets and a hedonic approach, survey, and case study were the main methods used in the articles.A valuable resource for scholars, real estate professionals, urban planners, and policymakers, this work offers critical perspectives on resilience, innovation, and adaptability in the post-pandemic real estate environment.",0.0,https://doi.org/10.3390/books978-3-7258-4325-159385bb99290aa045eafb42f6a49141a3f8daa4de78,10.1088/1742-6596/1616/1/012019,Conceptual Housing and Housing Prices: An Empirical Study Based on Micro-big Data of Hangzhou Newly-built Housing Market,2020,"Journal of Physics, Conference Series",Y. Lian; Shu-Yuan Li; Hai-Zhen Wen,"With the fierce competition in the market and the improvement of residents’ consumption concepts, a multitude of new concept products have emerged in the real estate market, including green housing, education housing, subway housing, and park housing. However, the existing research does not fully explain how these housing concept labels affect the housing price. This study takes Hangzhou as an example, collects a total of 36,907 transaction data of new housing districts in 2016, and constructs a hedonic price model to analyze the influence of four housing concept labels, namely green housing, education housing, subway housing, and park housing, on housing prices. The empirical results show that the impact of diverse types of concept labels on housing prices is heterogeneous. In addition to education housing, the impact of green housing, subway housing, and park housing on housing prices is significant and positive, which can bring an 8.2%, 3.0 %, and 4.1% price increase.",0.0,https://iopscience.iop.org/article/10.1088/1742-6596/1616/1/012019/pdf594doi_10_29327_2290393_5_1_3,10.29327/2290393.5.1-3,Método das variáveis: proposição e validação de um novo modelo para avaliação de imóveis com base na teoria dos preços hedônicos,2026,Revista Valorem,Antoniel Campos,"Este estudo apresenta e valida o “Método das Variáveis”, uma abordagem quantitativa inovadora para avaliação técnica de imóveis fundamentada na teoria dos preços hedônicos. O objetivo central foi quantificar objetivamente a contribuição de cada atributo para o valor de mercado, superando limitações de métodos tradicionais como a regressão linear. A pesquisa, de natureza quantitativa, descritiva e aplicada, envolveu revisão bibliográfica, modelagem estatística e aplicação em 15 estudos de caso com imóveis de diferentes tipologias do mercado brasileiro. O método propõe ajustes baseados em monotonicidade, normalização de variáveis e ponderação empírica via fator gaussiano, integrando vetores de atributos e preços de mercado, com rigoroso saneamento amostral. Embora os testes estatísticos tenham apontado equivalência prática entre as abordagens, os resultados indicam que o novo método apresenta desempenho moderadamente superior ao da regressão linear, com maior aderência e precisão, sobretudo em amostras restritas ou heterogêneas. Conclui-se que o Método das Variáveis amplia a robustez, a transparência e a aplicabilidade das avaliações imobiliárias, sendo especialmente vantajoso em con",0.0,595f0c61e8a420636646bec48fe7532bfa128cca375,10.36253/aestim-15481,"Influence of a traditional flea market on property prices in its surroundings – a case study in Porto Alegre, Brazil",2024,Aestimum,M. A. Stumpf González,"Flea markets are important as economic and cultural phenomenon in several cities around the world. There is little attention to their influence on real estate prices. The “Brique da Redenção” occur every weekend since 1978 in Porto Alegre, Brazil. There could be positive effects on surrounding properties. However, the positioning of this flea market implies on reduce the accessibility on weekends to properties placed in the same street and it could reduce property prices. The aim of this paper is to evaluate the influence of this flea market in residential prices. It was developed hedonic models to explore these effects, with a sample of more than 5.3 thousand apartment sales. The analysis shows a satisfactory statistical performance of the hedonic model. The study indicates that Brique’ effect is capitalized in the market prices, with an average loss on value around to 7.8% to properties placed in front to the Brique.",0.0,https://doi.org/10.36253/aestim-154815964dadf8fb379cd36ae0e8cd674bf573d3ec2efb44,10.56065/ijusv-ess/2023.12.3.100,Constructing a Hedonic Pricing Model for the Rental Market in Varna,2023,Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series,Svetlana Todorova,"The aim of the research is to apply a hedonic pricing model to an apartment rental market in the city of Varna, Bulgaria. This widespread model has been used extensively in the various aspects of the rental markets. The sample size of the study is 59 apartments for rent offered on the market in “Chaika” living estate in the city of Varna, published online at “ALO.bg” as of September 1, 2023. We have chosen this specific date, because at that time the market is very brisk. On one hand, the demand of the apartments increases, because of the beginning of the school year, and on the other hand, this period coincides with seasonal layoff unemployment and seasonal labor moving out of the apartments, which they have been renting for the summer jobs. The results of the study explain above 90 percent of variation in rents in Varna, emphasizing the most important factors.",0.0,http://dx.doi.org/10.56065/ijusv-ess/2023.12.3.100597doi_10_14295_vetor_v30i1_12879,10.14295/vetor.v30i1.12879,Modelo Hedônico para Estimação do Valor de Imóveis: Aplicação em Nova Friburgo-RJ,2021,VETOR - Revista de Ciências Exatas e Engenharias,Marco André Abud Kappel; Leonardo de Almeida Teodoro,"Com a expansão do mercado imobiliário na Região Serrana do estado do Rio de Janeiro, uma parcela cada vez maior da população precisa tratar com a compra e venda de imóveis. Porém, a avaliação justa de uma unidade imobiliária não é uma tarefa simples e pode ser influenciada por diferentes atributos da edificação. Com o propósito de auxiliar nessa incumbência, o presente trabalho tem como objetivo identificar as características mais importantes na avaliação de um imóvel nessa região e, em seguida, propor um modelo matemático simples capaz de estimar o seu valor de mercado. Para isso, informações sobre valores de comercialização e detalhes construtivos de casas e apartamentos à venda na cidade de Nova Friburgo foram extraídos de portais de anúncios online, formando uma base única de dados imobiliários, sobre a qual foram, posteriormente, aplicadas técnicas de seleção de variáveis e regressão linear múltipla para a obtenção do modelo pretendido. Os resultados obtidos revelaram que a característica de maior influência na determinação do preço de compra e venda de um imóvel na região é a sua área construída. Por outro lado, o modelo matemático construído foi capaz de estimar os preços de",0.0,598doi_10_36113_rec_v9idossie_4793,10.36113/rec.v9idossie.4793,Precificação dos Imóveis Urbanos em Itacaré-BA: uma análise de preços hedônicos,2025,Reflexões Econômicas,Pricila Pereira dos Santos; João Sotero Do Vale Junior; Andrea Da Silva Gomes; Mônica De Moura Pires; Leonardo Rodrigues Porto,"O crescimento populacional e a urbanização impulsionam transformações socioeconômicas que impactam diretamente o uso e ocupação do solo, influenciando, por sua vez, o preço da terra e o mercado imobiliário. Nesse contexto, este artigo objetiva identificar os fatores determinantes dos preços dos imóveis no município de Itacaré, Bahia, Brasil. Para tanto, empregou-se um modelo econométrico de Mínimos Quadrados Ordinários (MQO). A análise considerou o preço do imóvel como variável dependente, influenciado por características intrínsecas (como suíte, garagem e área construída) e extrínsecas (localização, tipo de terreno e proximidade a serviços e infraestrutura, como hospitais e escolas). Os dados foram coletados em sites de imobiliárias e corretoras locais, abrangendo o período de outubro a novembro de 2024. Os resultados revelam que as variáveis com maior poder explicativo para o preço dos imóveis em Itacaré são: a localização central, o metro quadrado construído e a presença de suíte. Ainda assim, uma maior quantidade de quartos mostrou-se inversamente relacionada ao preço. Estas especificidades do mercado imobiliário de Itacaré fornecem informações que podem aprimorar a eficiência ",0.0,599doi_10_15446_rcdg_v34n1_104098,10.15446/rcdg.v34n1.104098,Modelo de evaluación de impacto de las estaciones de buses de tránsito rápido (BRT) sobre los precios de los predios y su aplicación en Bogotá Impact of BRT stations on property prices in Bogotá Impacto das estações de BRT nos preços dos imóveis em Bogotá,2025,Cuadernos de Geografía: Revista Colombiana de Geografía,Hernando Arenas Castro,"Este estudio presenta un método para determinar el potencial tributario de los ingresos supletorios generados por las externalidades positivas asociadas a nuevos o mejorados bienes públicos locales (BPL). Para establecer ¿hasta dónde? se extienden los beneficios, se desarrolló un modelo de evaluación de impacto; y para establecer ¿cuánto? es la variación evidenciable en los precios del suelo y de los predios (PSyP), se desarrolló un modelo de precios hedónicos. Estos modelos se aplicaron a ocho troncales del sistema de buses de tránsito rápido “Transmilenio” (BRT-TM) en Bogotá. Del primer modelo, se determinó que los beneficios se extienden hasta una distancia x=0,5 km a partir de las estaciones BRT-TM. Del segundo modelo, se determinó que los PSyP se incrementan según su distancia a las estaciones BRT-TM: máximo 8,4 % (x=0 km) y decrecen continuamente hasta 0 % (x>0,5 km); en promedio, los PSyP se incrementan 3 %. Al aplicar estos modelos a las estaciones de la troncal BRT-TM Avenida 68, en etapa de construcción, se determinó que el potencial tributario de la troncal es de USD 520 millones. Estos modelos son aplicables a cualquier BPL, en cualquier ciudad, y constituyen una her",0.0,600f7e86f195247c4fc151ec0afdcc5092a26e0583f,10.2478/remav-2023-0006,A Decomposition approach for Assessing Land Leverage and Depreciation Rate on the Real Estate Market – Evidence from Warsaw Poland,2023,Real Estate Management and Valuation,J. Waszczuk,"ABSTRACT Most property valuation research concerns entire properties consisting of land and structures. However, different features of land and capital as factors of production determine different patterns shaping their value and their different impact on the total price of real estate. In this article the hedonic decomposition model, which controls for differences in housing quality, is applied to decompose the price of an apartment into the land and structure components. The depreciation rate of housing was calculated and taken into account to properly isolate the dynamics of land over time. This allowed us to compare the house price index with the dynamics of land and structure. The empirical analysis was carried out on the data for the city of Warsaw.",0.0,https://sciendo.com/pdf/10.2478/remav-2023-00066012ebd5e9c8103e3a286f1af905f91664128941fc7,10.24957/hsr.2024.32.4.57,Analyzing the Announcement Effects of the First New Town Redevelopment on Apartment Property Values: Focusing on the Marginal Effects of House Building Age in Seongnam City,2024,Korean Association for Housing Policy Studies,Jaehyeon Kim; Ayoung Woo,"Interest in redevelopment and reconstruction has been increasing due to the legislation regarding the Special Act for the 1st New Town and commitments to expanding housing supply by accelerating reconstruction. While there has been a lot of discussion on the spillover effects of housing supply from the reconstruction of the 1st New Town on the real estate market, there has been little empirical research on the effects of policy announcements made prior to the implementation of reconstruction projects. Therefore, this study examines the impact of public announcements regarding the 1st New Town redevelopments on apartment prices in Seongnam City, Gyeonggi-do. Based on the Ministry of Land’s apartment transaction price data, which includes 7,492 units, we use a Difference-in-Difference-in-Differences (DDD) model to clarify the causal effects of public announcements and a hedonic price model with an interaction term between building age and announcement periods to account for the marginal effects of building age over time. The results of this study can be used as a basis for urban planners and policymakers to formulate policies on the maintenance and support of the 1st New Town.",0.0,602doi_10_7202_601273ar,10.7202/601273ar,Élasticité de la demande de logement au Canada,2009,L'Actualité économique,Alain Lapointe; Hugues Moisan,"L’estimation des élasticités de la demande de logement a été l’objet d’un nombre important d’articles tant au Canada qu’aux États-Unis. Cet intérêt a été entretenu principalement par l’écart des résultats observé d’une étude à l’autre et par la diversité des problèmes économétriques à laquelle conduit ce genre d’estimation. Le présent article, tout en poussant l’investigation un peu plus loin, a l’avantage d’utiliser un échantillon de données individuelles dans les deux plus grandes zones métropolitaines au Canada : Montréal et Toronto. De plus, la spécification du modèle incorpore une variable prix obtenue à partir de l’estimation d’une fonction de prix hédonique. L’article fait d’abord la revue des principaux problèmes économétriques que soulève ce genre d’estimation, et présente ensuite la spécification du modèle finalement retenue aux fins de l’estimateur. Nos résultats montrent que le biais dans l’élasticité-revenu consécutif à l’exclusion de la variable prix dans l’équation de demande est relativement faible par rapport à celui qu’entraînerait une mesure inappropriée du revenu ou encore des dépenses de logement.",0.0,603doi_10_61673_ren_2022_1328,10.61673/ren.2022.1328,LOCAÇÃO DE IMÓVEIS: UMA APLICAÇÃO DE PREÇOS HEDÔNICOS PARA A CIDADE DO RECIFE,2022,Revista Econômica do Nordeste,Matheus Gomes Coelho Ciarlini; Francisco de Sousa Ramos; Monaliza de Oliveira Ferreira,"Este trabalho situa-se entre os pioneiros em estimar o impacto de variáveis estruturais, amenidades urbanas e naturais na formação dos preços de aluguel das zonas norte e sul de Recife por meio da metodologia espacial de preços hedônicos. Com um banco de dados de 269 observações fornecidas pela maior imobiliária do Estado, foi possível constatar pelo teste I de Moran a existência de uma significativa interação entre os valores do aluguel na região. Em seguida, mostra-se que os modelos mais indicados para esta pesquisa são os modelos espaciais, em especial o modelo de erro espacial (SEM). Como resultado, verifica-se que todas as variáveis estruturais são importantes e significativas para a formação do preço de aluguel. Dentre as amenidades, o impacto positivo da variável de distância ao rio quando comparado às demais é significativa, indicando que, em Recife, os locatários preferem morar próximo ao Rio Capibaribe. Finalmente, conclui-se que o consumidor locador de imóvel apresenta interesses diferentes do consumidor comprador, principalmente quando se refere a área útil e mobília.",0.0,6043d0c77693c59e2717490cee0c15aa84aa35dc787,10.15396/eres2019_167,"Emotions, Uncertainty, Gender and Residential Real Estate Prices: Evidence from a Bubble Market",2019,26th Annual European Real Estate Society Conference,Clare Branigan; P. Ryan,"This paper investigates the impact of valuation uncertainty on residential property prices near the peak of a bubble. Our hand-collected sample comprises the sequence of bids and gender of the participating bidders at Irish residential real estate auctions, prior to the collapse of a bubble, which when it burst had disastrous implications for the banking system and the economy itself. Portfolios of practitioner- and hedonic pricing model-selected self-similar properties provide benchmark property price estimates and uncertainty is calculated by reference to various measures of dispersion related to prices achieved for comparable properties. We find, in aggregate, auction winners do not shade bids with increased valuation uncertainty. In addition, winning female bidders, in contrast to findings in the extant literature across a wide range of academic disciplines, including experimental bubble markets, are not less risk averse, or more likely to shy away from competitive situations than their male counterparts.",0.0,6051306d55a808ce87b12b6ef102a5231416705129d,10.12783/dtssehs/icaem2017/19157,The Publication Bias of the Chinese Real Estate Research: A Meta-Analysis,2018,,Tian-Hui Jiang; Yu Song; Yaodong Zhang,"This article applies a meta-analysis to investigate the results from hedonic housing model in China. This paper investigates the publication bias and authentic empirical effect among those researches. Partial correlation coefficients between building area and house price reveal a strong evidence of publication bias and a genuine positive effect, in which, the financial crisis in 2007 will increase the effects of building area on house price. And the linear model partially account for the publication bias.",0.0,https://doi.org/10.12783/dtssehs/icaem2017/19157606f9d8ea30b2b42f8e878ce620aefa3a087492e746,10.5089/9798229054911.029,"Ukraine: Report on Residential Property Price Index Mission (September 15 – 19, 2025)",2026,High-Level Summary Technical Assistance Reports,,"This technical assistance mission, conducted from September 15 –19, 2025, aimed to support the State Statistical Service of Ukraine (SSSU) in advancing the compilation and dissemination of the House Price Index (HPI). The mission focused on finalizing methods for index compilation using listings data, assessing new administrative data sources, and designing a dissemination strategy. Findings highlighted that while administrative data from the State Registry of Real Rights and Unified Database of Valuation provide useful information, their quality and completeness currently limit their use for official HPI compilation. The mission recommended continuing reliance on listings data, refining hedonic modeling techniques, and securing methodological clearance to enable the planned publication of an updated HPI by May 2026. These efforts are critical for enhancing transparency in Ukraine’s real estate market, supporting financial market infrastructure, and aiding economic recovery and reconstruction.",0.0,607doi_10_19052_ed_3649,10.19052/ed.3649,Determinantes del precio de la vivienda en Bucaramanga,2017,Equidad y Desarrollo,Juan Carlos Rodriguez Marin; Pedro Fernando Delgado Jaimes; Taide Botello Velasco,"El objetivo del artículo fue analizar los cambios en los determinantes del precio de la vivienda en Bucaramanga, en 2005 y 2012, luego de la implementación del sistema de transporte público Metrolínea. Para el análisis, se utilizó el método de precios hedónicos, que explica cómo el conjunto de características convencionales y atributos del entorno de las viviendas influyen en la disposición a pagar de los consumidores. Los resultados sugieren que las características del inmueble y los atributos convencionales, como estrato, tipo de vivienda y tenencia de garaje, tienen mayor relevancia que los atributos de calidad ambiental. Asimismo, se evidencia un cambio en la significancia en algunas variables de un periodo a otro, lo cual supone la existencia de nuevas variables que pueden explicar el comportamiento de los precios de la vivienda y que podrían estar relacionadas con la puesta en marcha del nuevo sistema de transporte público.",0.0,6089fa2061136f10e5346491e8f04c6e66a6f776879,10.1108/jpif-02-2026-0026,Real Estate Insights: Location matters – real estate submarkets in the work of Bryan MacGregor,2026,Journal of Property Investment & Finance,Steven C. Bourassa; Martin Hoesli,"609 610 This paper highlights Bryan MacGregor's contribution to the literature on the definition of real estate submarkets in the context of hedonic house price analysis and commercial property investment diversification.611 612 613 614 This paper provides a summary and discussion of Bryan's work on real estate submarkets, focusing on three of Bryan's published research papers.615 616 617 618 Bryan's publications include an application of principal components analysis and cluster analysis to the definition of housing submarkets for hedonic modelling purposes. They also include studies of the usefulness of cluster analysis for commercial property investment diversification. Although Bryan is best known for his work on commercial property markets, his most-cited work is the paper on housing submarkets.619 620 621 622 This paper calls attention to Bryan's contribution to research on real estate submarkets, particularly the analysis of housing submarkets.623",0.0,624doi_10_33110_rnee_v16i1_324,10.33110/rnee.v16i1.324,"Estimación del precio de la vivienda a través de la metodología de precios hedónicos, una aplicación al mercado inmobiliario de segmento medio y semi lujo de la ciudad de Morelia Michoacán, México",2022,Revista Nicolaita de Estudios Económicos,Juan Carlos Preciado Carrillo,"El presente trabajo de investigación tiene como objetivo principal verificar las bondades que aportan la metodología de precios hedónicos a la valoración de inmuebles, mediante la obtención de una muestra con precios de oferta del segmento medio y semilujo, siendo en nuestro estudio el precio como la variable dependiente y una serie de variables independientes que influyen en el precio, se pretende explicar de una manera más objetiva el valor de mercado.
 La estimación de valor de mercado de un activo fijo es de gran importancia para infinidad de trámites y toma de decisiones, tal es el caso de las instituciones financieras para tomar en garantía de préstamo, a las empresas para conocer cuánto valen sus activos fijos, gobierno para cobrar impuestos y una infinidad de usos que se le pueden dar, se trata de verificar que variables explican el precio que reflejen las condiciones de mercado.",0.0,625https://openalex.org/W2485539241,10.1201/b18828-145,An empirical analysis of housing price based on hedonic pricing theory: Evidence from Chengdu city,2015,CRC Press eBooks,M.S. Zhang H. Wang K. He,"Despite the Hedonic Pricing Model is widely used for housing valuation. However, the applications to Chinese cities are limited because of data availability, which constrains housing research in China. With the rapid development of the economy, the data are becoming accessible and more and more scholars are starting to devote themselves to hedonic housing price research in China. Housing studies of Chinese cities can offer useful policy implications, because China is in a unique transitional stage of economic development.",0.0,626doi_10_20435_inter_v20i2_1788,10.20435/inter.v20i2.1788,"Análise de preços hedônicos no mercado imobiliário residencial de Conselheiro Lafaiete, MG",2019,Interações (Campo Grande),Victor Henrique Lana Pinto; Rosangela Aparecida Soares Fernandes,"O presente artigo consiste na análise dos atributos relevantes na formação dos preços de imóveis residenciais para venda em Conselheiro Lafaiete, MG, em 2016. Estimou-se um modelo hedônico a partir de uma regressão linear múltipla, que permitiu associar o preço dos imóveis às características dos bens imobiliários e de seu entorno. Os resultados sugerem que as variáveis foram relevantes para explicar a variabilidade nos preços dos imóveis, e refletiram a realidade do mercado imobiliário de Conselheiro Lafaiete.",0.0,627d4160473d53c44ef1637df70d6c904d8bad47ddb,10.1101/2023.06.09.23291209,"Evaluating the effects of supervised consumption sites on housing prices in Montreal, Canada using controlled interrupted time series and hedonic price models",2023,medRxiv,M. Schaefer; D. Panagiotoglou,,0.0,https://www.medrxiv.org/content/medrxiv/early/2023/06/12/2023.06.09.23291209.full.pdf628e5d1f6c5a265d9c3f18309ea81709edd45609641,10.2139/ssrn.1985502,Hedonic Model with Discrete Consumer Heterogeneity and Horizontal Differentiated Housing,2013,,Masha Maslianskaia-Pautrel,,0.0,https://doi.org/10.2139/ssrn.1985502629fcde21fbe093c018935eefb95d564945b7703d65,10.1007/s12517-017-3351-z,Correction to: The use of hedonic pricing method to determine the parameters affecting residential real estate prices,2017,Arabian Journal of Geosciences,Ayse Yavuz Ozalp; H. Akıncı,,0.0,https://doi.org/10.1007/s12517-017-3351-z630https://openalex.org/W1553584142,10.1002/0470871334.ch5,Mass Appraisal and Noise: The Use of Lifestyle Segmentation Profiles to Define Neighbourhoods for Hedonic Housing Price Mass Appraisal Models,2003,,Steven Laposa; Grant Ian Thrall,This chapter contains sections titled: Introduction Explanatory Variables and Lifestyle Segmentation Profiles Data and Methodology Analysis Conclusion References,0.0,631doi_10_1109_icee_2010_395,10.1109/icee.2010.395,Office Rental Pricing of Merging the Hedonic Model into the Feature Comparison,2010,2010 International Conference on E-Business and E-Government,Yang Gao-sheng; Niu Xiao-peng,,0.0,632doi_10_24275_etypuam_ne_492018_delgado,10.24275/etypuam/ne/492018/delgado,"Valoración hedónica de la inseguridad en la determinación de precios de viviendas en Acapulco de Juárez, Guerrero",2018,Economía Teoría y Práctica,; Joaquín Delgado Fernández; Giovanni Wences Nájera; ,,0.0,6337511153ea51e557f923dfd6800b79eef910eed2d,10.15396/eres2018_114,"Same difference: A unifying framework for house value predictions through hedonic pricing, nearest neighbours, and comparable sales",2018,,Sotirios Thanos; Jean Dubé; Diègo Legros,,0.0,63474e91400f3d8f236457f752d6d6c524de3c8010d,10.1007/s40890-025-00243-3,"The Impact of Public Transport Accessibility on Commercial and Residential Property Prices: A Hedonic Pricing Model Analysis in Mashhad, Iran",2025,Transportation in Developing Economies,E. Bozorgi; R. N. Esfahani; Babak Saffari,,0.0,635563d647e1235a91762d12ba8130ba12b970c0426,10.4324/9781315248004-18,Estimation of a Hedonic Rent Index for the Residential Real Estate Market of Bari: A Contribution to Urban Planning,2016,,A. Khakee; A. Hull,,0.0,636https://openalex.org/W3125030712,10.4324/9781315743035-10,Superstition and Hong Kong housing prices: a Hedonic Pricing approach,2016,,Rita Yi Man Li; Kwong Wing Chau; Chui Yee Law; Tat Ho Leung,,0.0,637https://openalex.org/W3123572284,10.15396/eres2003_110,Estimating hedonic housing price models with spline functions,2003,,Helen X. H. Bao; Wan Alan; Mats Håkan Wilhelmsson,,0.0,638https://openalex.org/W633277038,10.2139/ssrn.2841734,The Hedonic Housing Price Index For Poland Modelling on NBP BaRN Data,2014,SSRN Electronic Journal,Marta Widłak,,0.0,639a39850091fe418201cd90802aa3a4dc8f9fb4196,10.1111/1540-6229.00737,Assessing the performance of real estate auctions,1998,,C. Mayer,"This paper investigates the performance of real estate auctions in selling real estate relative to the more traditional method of negotiated sale. Estimates from auctions in Los Angeles during the boom of the mid 1980s show a discount that ranges between 0 and 9 percent, while similar sales in Dallas during the real estate bust of the late 1980s obtained discounts in the 9 to 21 percent range. This evidence is censistent with a theory that predicts larger percentage discounts in down markets. Although these results differ from previous studies of U.S. auctions that find much larger discounts, a comparison of methodologies suggests that previous papers that use a hedonic equation suffer from a selection bias problem, pushing auction coefficients towards finding larger discounts. Another interesting finding is that publishing a reserve price does not affect the estimated auction prices. Finally, the study notes that scattered-site auctions sell at a larger discount than the more homogeneous sales of single-site condominiums and finds no evidence of price declines over the course of an auction. The paper concludes that despite the discounts, auctions are still a viable sales strategy,",119.0,http://hdl.handle.net/1721.1/12704640doi_10_1016_j_regsciurbeco_2008_11_001,10.1016/j.regsciurbeco.2008.11.001,How informative are average effects? Hedonic regression and amenity capitalization in complex urban housing markets,2009,Regional Science and Urban Economics,Christian L. Redfearn,,103.0,641doi_10_1016_0094_1190_89_90043_0,10.1016/0094-1190(89)90043-0,Estimating the implicit price of energy efficiency improvements in the residential housing market: A hedonic approach,1989,Journal of Urban Economics,Terry M. Dinan; John A. Miranowski,,100.0,64220734bef7533f01610af84f657dbdf329726bfce,10.1006/juec.1995.1030,A Revealed Preference Approach to Ranking City Quality of Life,1995,,Matthew E. Kahn,"This paper presents a new method for ranking city quality of life. I use data from the 1980 and the 1990 Census of Population and Housing to rank cities. My approach relaxes the standard ""hedonic"" method's assumptions that all city local public goods are observed and that the implicit prices of all skills and apartment attributes are equal across cities. I find that Los Angeles and San Francisco have higher quality of life than Chicago and Houston in both 1980 and 1990. I find that quality of life in New York City fell during the 1980s.",93.0,https://doi.org/10.1006/juec.1995.10306435c1f89b19c913292c6937c744db11a689611ce44,10.1111/j.1467-9787.2012.00774.x,Spatial Hedonics and the Willingness to Pay for Residential Amenities,2012,,Kenneth A. Small; S. Steimetz,,89.0,https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/j.1467-9787.2012.00774.x644doi_10_1016_j_compenvurbsys_2009_10_007,10.1016/j.compenvurbsys.2009.10.007,"Integrating lidar, GIS and hedonic price modeling to measure amenity values in urban beach residential property markets",2010,"Computers, Environment and Urban Systems",Stuart E. Hamilton; Ash Morgan,,88.0,645doi_10_1016_0094_1190_81_90041_3,10.1016/0094-1190(81)90041-3,"Hedonic prices, demands for urban housing amenities, and benefit estimates",1981,Journal of Urban Economics,Glenn Blomquist; Lawrence Worley,,82.0,646doi_10_1108_14635780010338245,10.1108/14635780010338245,Sorting out access and neighbourhood factors in hedonic price modelling,2000,Journal of Property Investment & Finance,François Des Rosiers; Marius Thériault; Paul‐Y Villeneuve,"This paper investigates the analytical potential of factor analysis for sorting out neighbourhood and access factors in hedonic modelling using a simulation procedure that combines GIS technology and spatial statistics. An application to the housing market of the Quebec Urban Community (575,000 in population; study based on some 2,400 cottages transacted from 1993 to 1997) illustrates the relevance of this approach. In the first place, accessibility from each home to selected activity places is computed on the basis of minimum travelling time using the TransCAD transportation‐oriented GIS software. The spatial autocorrelation issue is then addressed and a general modelling procedure developed. Following a five‐step approach, property specifics are first introduced in the model; proximity and neighbourhood attributes are then successively added on. Finally, factor analyses are performed on each set of access and census variables, thereby reducing to six principal components an array of 49 individual attributes. Substituting the resulting factors for the initial descriptors leads to high model performances, controlled collinearity and stable hedonic prices, although remaining spatial",76.0,647292cbc70c349ffcec6e37e6d5be0e1ea4605caa6,10.1016/j.enbuild.2019.109670,Measuring the price premium of energy efficiency: A two-step analysis in the Italian housing market,2020,,A. Bisello; V. Antoniucci; G. Marella,"Abstract Decarbonizing the building sector by means of the smart interconnection of increasingly efficient buildings is one of the European Union's goals in order to meet its climate and energy targets and a milestone in delivering future positive-energy cities. Energy performance certificates today, and smart readiness indicators tomorrow should positively influence consumers’ choices and orient them towards an appreciation of sustainable buildings. Although energy performance certificates are now required by law in the EU Member States, it remains to be seen whether and how local real estate markets react to them. To fill this gap, we analyzed a cross-sectional housing dataset in the Italian city of Bolzano, which serves as a noteworthy case study due to its compact urban form and the environmental awareness of its local society. We first tested a hedonic price model, and then its spatial specification. Considering the certified energy efficiency performance and the characteristics of the location among the explanatory variables, we found a price premium in excess of 6% on moving from the worst (“G”) to the best (“A”) energy efficiency class, all other characteristics being equal",61.0,https://doi.org/10.1016/j.enbuild.2019.1096706484bf39dd9e083e82630131ca9cc727e72105efddf,10.1016/j.landusepol.2019.03.002,"Accessibility, air pollution, and congestion: Capturing spatial trade-offs from agglomeration in the property market",2019,Land Use Policy,Christopher D. Higgins; M. Adams; W. Réquia; M. Mohamed,"Abstract The economies of scale and network effects from agglomeration form the foundation of the economic geography of cities. These agglomerations can be associated with transportation accessibility benefits and negative externalities from increased levels of harmful emissions, both of which are impacted by congestion. Such factors imply a tension between the economies and diseconomies of agglomeration in cities. This research employs real estate transaction data to examine whether spatial trade-offs occur between the benefits and negative impacts of agglomeration in the single-detached property market around two highways in Hamilton, Canada. Our novel disaggregate approach operationalizes agglomeration using empirical estimates of accessibility to employment with calibrated impedance functions; micro-scale dispersion modelling of harmful emissions of particulate matter (PM2.5); and congestion effects in each. Descriptive analyses reveal areas of transport advantage and environmental disadvantage and cross-sectional spatio-temporal hedonic models find evidence of an agglomeration trade-off in the study area. Results suggest that households value high levels of accessibility in lo",51.0,649doi_10_1016_j_regsciurbeco_2010_07_002,10.1016/j.regsciurbeco.2010.07.002,Hedonic analysis with locally weighted regression: An application to the shadow cost of housing regulation in Southern California,2010,Regional Science and Urban Economics,David L. Sunding; Aaron M. Swoboda,,51.0,650bd89960dc0cafcb8d2511027e06439601c500a1b,10.1016/j.ufug.2019.04.004,A hedonic pricing method to estimate the value of waterfronts in the Gulf of Mexico,2019,Urban Forestry & Urban Greening,Ram P. Dahal; R. Grala; J. Gordon; Ian A. Munn; D. Petrolia; J. Cummings,"Abstract Open spaces, including waterfront areas, are publicly-or-privately owned landscapes that provide numerous benefits and services such as opportunities for recreational activities, ecological benefits, and economic development. However, with rapidly growing populations, development pressure on these areas has been increasing, often leading to conflicts between proposed land uses. Information on the monetary value of environmental amenities provided by these spaces would help decision-makers account for their importance to quality of life. This study estimated the monetary value associated with waterfronts using the hedonic pricing method (HPM) and real estate sales data for the coastal cities of Mobile and Daphne in Alabama, USA. The price of houses sold during 2001 to 2015 was used as the dependent variable and house structural and neighborhood attributes and presence of environmental amenities served as independent variables. Results showed that coastal residents considered proximity to waterfronts as one of the most important factors when buying a house and paid higher prices for houses located near most waterfront types. In Mobile, marginal implicit prices of proximity t",50.0,https://www.sciencedirect.com/science/article/am/pii/S1618866718307544651doi_10_1111_j_1574_0862_2004_tb00253_x,10.1111/j.1574-0862.2004.tb00253.x,A household hedonic model of rice traits: economic values from farmers in West Africa,2004,Agricultural Economics,Timothy J. Dalton,"Abstract New crop varieties often have been promoted in developing countries based upon superior yield vis‐a‐vis locally available varieties. This research presents a hedonic price model for upland rice by drawing upon the input characteristics and consumer good characteristics model literature. Model specification tests determine that a combination of production and consumption characteristics best explains the willingness to pay for new upland rice varieties. The household model specification determined that five traits explain the willingness to pay for new rice varieties: plant cycle length, plant height, grain colour, elongation/ swelling and tenderness. Yield was not a significant explanatory variable of the willingness to pay for seed. The implications of this model are two‐fold. First, varietal development and promotion must include post‐harvest characteristics in addition to production traits when determining which varieties to promote for official release. Secondly, non‐yield production characteristics such as plant height and cycle length are significant factors in producer's assessments of the value of a new variety. Overall, this paper provides an alternative explanati",50.0,6523a3b89c7a00e2cb7e65c286d7c37bf29222572f0,10.1016/j.landusepol.2021.105292,Spatio-temporal stability of housing submarkets. Tracking spatial location of clusters of geographically weighted regression estimates of price determinants,2021,,K. Kopczewska; Piotr Cwiakowski,"Abstract This paper fills the gap in rich housing literature by testing the spatio-temporal stability of real estate submarkets. We start with standard Geographically Weighted Regression (GWR) estimation of the hedonic model on point data, and we cluster model coefficients to detect housing submarkets. We check spatio-temporal stability - we add novelty by comparing if clusters move over space or stay in the same place. We rasterise surface and apply the Rand Index and Jaccard Similarity to check if clusters assigned to raster cells yield stable spatial structure. This approach allows for quantitative assessments of how much determinants of price are stable over time and space. The same mechanism applied to standard errors of GWR coefficients is a good test of the spatio-temporal stability of local heteroscedasticity. A Case study of apartments' transactions in Warsaw-Poland for the 2006–2015 period, evidences relatively high spatio-temporal stability.",41.0,https://doi.org/10.1016/j.landusepol.2021.105292653doi_10_1111_j_1540_6229_2006_00160_x,10.1111/j.1540-6229.2006.00160.x,The Impact of Environmental Contamination on Condo Prices: A Hybrid Repeat‐Sale/Hedonic Approach,2006,Real Estate Economics,Bradford Case; Peter F. Colwell; Chris Leishman; Craig Watkins,"We extend the literature on the impact of externalities using an approach based on a hybrid of hedonic and repeat‐sales methods. The externality in question is groundwater contamination in Scottsdale, Arizona. The use of condominium sales allows us to assume that major physical characteristics remain unchanged, but location parameters may be altered by urban growth and development as well as contamination. We find an economically significant discount for properties located in the contaminated area. Interestingly, it does not appear until several years after the contamination becomes publicly known, and it seems to have disappeared before the end of the study period.",38.0,654doi_10_1080_00420980120027465,10.1080/00420980120027465,The External Effects of Local Attributes on Living Environment in Detached Residential Blocks in Tokyo,2001,Urban Studies,Xiaolu Gao; Yasushi Asami,"Measuring environment attributes in monetary terms is an effective approach for evaluating living environments and planning. This paper presents a study employing a hedonic pricing model on the externalities of local attributes in detached residential blocks in Tokyo. Results show that a group of local attributes, including both attributes of individual lots and of local districts, exert stable external effects. Moreover, many of these effects are changing with the size of land lot. These findings provide important information for urban planning and design in detached residential blocks. In the paper, the sub-division of land lots, an event arousing much concern in recent years, is analysed and concepts on facilitating local parks are suggested.",37.0,6557c573ca029c19fd342b7e4b81a53031c69bd303c,10.1109/icmla.2016.0092,Hedonic Housing Theory — A Machine Learning Investigation,2016,International Conference on Machine Learning and Applications,T. Oladunni; Sharad Sharma,,32.0,656doi_10_1111_1540_6229_00541,10.1111/1540-6229.00541,An Empirical Analysis of Hedonic Regression and Grid‐Adjustment Techniques in Real Estate Appraisal,1991,Real Estate Economics,Han‐Bin Kang; Alan K. Reichert,"Multiple regression analysis has become increasingly popular when appraising residential properties for tax purposes. Alternatively, most fee appraisers and real estate brokers use the traditional sales comparison approach. This study combines the two techniques and uses multiple regression to generate the adjustment coefficients used in the grid adjustment method. The study compares the combined grid‐regression method with ordinary regression and defines the market conditions under which each method is likely to be more effective. The grid‐regression method is found to be more accurate for relatively homogeneous housing markets, and the multiplicative percentage adjustment method (MPAM) the preferred approach.",31.0,657doi_10_1080_00420989220080601,10.1080/00420989220080601,"Hedonic Prices and the Demand for Housing Attributes in a Third World City: The Case of Ibadan, Nigeria",1992,Urban Studies,Ben C. Arimah,"This paper estimates the demand functions for a set of housing attributes for the city of Ibadan, Nigeria, using Rosen's two-step estimation procedure. The empirical results reveal that the most important determinants of the demand for housing attributes are: income, price of the attribute in question, household size and the occupational status of the head of household. The paper further indicates that the demand for housing attributes is inelastic as all estimated elasticities are below unity.",31.0,658e127433d2c3576a27e74acfea2f015589085bcce,10.1108/ijhma-02-2017-0018,Determination of the parameters of automated valuation models for the hedonic property valuation of residential properties: A literature-based approach,2017,,Steffen Metzner; Andreas Kindt,,28.0,659doi_10_1006_jhec_2002_0308,10.1006/jhec.2002.0308,Household Expenditure Patterns for Housing Attributes: A Linear Expenditure System with Hedonic Prices,2002,Journal of Housing Economics,Mats Wilhelmsson,,24.0,6607c5cf38ab729b5624114fa1c97166b75a82ab557,10.3390/ijerph18136809,The Premium of Public Perceived Greenery: A Framework Using Multiscale GWR and Deep Learning,2021,International Journal of Environmental Research and Public Health,Yonglin Zhang; Xiao Fu; Chencan Lv; Shanlin Li,"Population agglomeration and real estate development encroach on public green spaces, threatening human settlement equity and perceptual experience. Perceived greenery is a vital interface for residents to interact with the urban eco-environment. Nevertheless, the economic premiums and spatial scale of such greenery have not been fully studied because a comprehensive quantitative framework is difficult to obtain. Here, taking advantage of big geodata and deep learning to quantify public perceived greenery, we integrate a multiscale GWR (MGWR) and a hedonic price model (HPM) and propose an analytic framework to explore the premium of perceived greenery and its spatial pattern at the neighborhood scale. Our empirical study in Beijing demonstrated that (1) MGWR-based HPM can lead to good performance and increase understanding of the spatial premium effect of perceived greenery; (2) for every 1% increase in neighborhood-level perceived greenery, economic premiums increase by 4.1% (115,862 RMB) on average; and (3) the premium of perceived greenery is spatially imbalanced and linearly decreases with location, which is caused by Beijing’s monocentric development pattern. Our framework pro",23.0,https://www.mdpi.com/1660-4601/18/13/6809/pdf?version=162459307866158c3eff72b3f0ee12c77970b0b22f3d30df57ec9,10.3390/ijgi12010002,Toward 3D Property Valuation - A Review of Urban 3D Modelling Methods for Digital Twin Creation,2022,ISPRS Int. J. Geo Inf.,Y. Ying; M. Koeva; M. Kuffer; J. Zevenbergen,"Increasing urbanisation has inevitably led to the continuous construction of buildings. Urban expansion and densification processes reshape cities and, in particular, the third dimension (3D), thus calling for a technical shift from 2D to 3D for property valuation. However, most property valuation studies employ 2D geoinformation in hedonic price models, while the benefits of 3D modelling potentially brought for property valuation and the general context of digital twin (DT) creation are not sufficiently explored. Therefore, this review aims to identify appropriate urban 3D modelling method(s) for city DT, which can be used for 3D property valuation (3DPV) in the future (both short-term and long-term). We focused on 3D modelling studies investigating buildings and urban elements directly linked with residential properties. In total, 180 peer-reviewed journal papers were selected between 2016 and 2020 with a narrative review approach. Analytical criteria for 3D modelling methods were explicitly defined and covered four aspects: metadata, technical characteristics, users’ requirements, and ethical considerations. From this, we derived short-term and long-term prospects for 3DPV. The ",21.0,https://www.mdpi.com/2220-9964/12/1/2/pdf?version=1672134318662doi_10_1111_j_1574_0862_2007_00219_x,10.1111/j.1574-0862.2007.00219.x,A hedonic approach to estimating the supply of variety attributes of a subsistence crop,2007,Agricultural Economics,Svetlana Edmeades,"Abstract The article extends the household hedonic model by estimating a supply function for variety attributes of a subsistence crop in a developing economy. The model is applied to bananas in Uganda, making use of disaggregated data on variety‐specific farm‐gate banana bunch prices and attributes, while accounting for the semisubsistence nature of banana‐producing households. The article is motivated by the need to understand the attribute trade‐offs made by farmers at the farm gate in light of targeted variety improvement efforts and their impact on banana markets. Whether variety improvement will pay off at the market level requires a more detailed examination of the relative worth of banana attributes within the structure of consumer preferences and production technologies related to bananas in Uganda. The results confirm the importance of consumption and production attributes in selling behavior. Quality and bunch size are found to be complements at the farm gate. Banana bunches that capture a premium at the market will be those that provide bundles of desirable consumption and production attributes simultaneously. By revealing important price–attribute relationships, the fin",21.0,66397b1cb9fb256ffcaaecdd670e0ff961932b3f692,10.1177/2399808317702147,"Scenic landscapes, visual accessibility and premium values in a single family housing market: A spatial hedonic approach",2019,,Jay Mittal; Sweta Byahut,,21.0,664doi_10_1017_s1355770x05002548,10.1017/s1355770x05002548,Willingness to pay for water and location bias in hedonic price analysis: evidence from the Indonesian housing market,2005,Environment and Development Economics,ARIEF ANSHORY YUSUF; PHOEBE KOUNDOURI,"Hedonic valuation of quality attributes can be misleading when the assumption that these attributes are exogenous to sample selection is violated. This paper considers the simultaneity between hedonic valuation and sample selection in the context of a model of consumer behavior over packaged goods and investigates empirically how the decision on house location (urban/rural) affects the household's valuation of water-related characteristics of the house in question. The empirical analysis uses data from the Indonesian housing market and suggests that households value access to safe and improved domestic water sources. However, failing to correct for sample selection results in a biased valuation of willingness to pay for house characteristics. This might misguide policy recommendations for improved provision of domestic water, based on cost–benefit analysis.",20.0,665doi_10_1007_s00181_011_0485_9,10.1007/s00181-011-0485-9,Nonparametric neural network modeling of hedonic prices in the housing market,2011,Empirical Economics,Manuel Landajo; Celia Bilbao; Amelia Bilbao,,20.0,666282ada4724e383db1adb4a1022ec43aabd984dd7,10.1080/09599916.2016.1258588,Impact of quality-led design on real estate value: a spatiotemporal analysis of city centre apartments,2016,,I. Nase; J. Berry; A. Adair,"Abstract This paper estimates the impact of quality design attributes on real estate value through empirical investigation of the owner-occupied multifamily residential sector. The methodological design is based on spatiotemporal modelling using a unique data-set of 424 Belfast City Centre apartments sold during the period 2000–2008. The key findings indicate that urban scale aspects of quality such as connectivity and vitality associated with building density add to real estate value. At the building level, quality features highly valued by home buyers are namely appropriateness of material quality, fenestration and massing to the surroundings. These key criteria are considered to have a significant visual perception compared to more complex concepts such as identity, material choice and overall condition. The contribution to knowledge involves extending the hedonic model to incorporate a wider selection of design quality variables; and improving estimation through the use of spatiotemporal modelling.",19.0,https://www.tandfonline.com/doi/pdf/10.1080/09599916.2016.1258588?needAccess=true667408a53cd464aa0f7ddf74d92de4db259d6b20048,10.1016/j.cities.2018.07.007,Quantifying welfare loss due to longer commute times in Seoul: A two-stage hedonic price approach,2019,Cities,M. Jun,"Abstract The relationship between commute duration and commuter well-being is an essential component of transport policy evaluation and planning, but few studies have considered it. This study evaluates the degree of capitalization of commute time in the housing market and measures the welfare loss caused by longer commute times using the Seoul metropolitan area (SMA) in Korea as a case study. We estimate a demand function between the observed commute time and its implicit price and evaluate the welfare loss for the average increase in commute time in the SMA between 1995 and 2010. The empirical findings show that the documented 12.5% increase in commute time caused a welfare loss of $1.3 billion for employees in the SMA. This evidence clearly links longer commute times with declining commuter well-being.",19.0,668e5542b90b1f01fa53d310beb48cdab6506ceef32,10.1017/s1355770x15000376,Flooding risks and housing markets: a spatial hedonic analysis for La Plata City,2016,Environment and Development Economics,M. Rabassa; Juan Ignacio Zoloa,,19.0,https://www.cambridge.org/core/services/aop-cambridge-core/content/view/5E036A5CAA397B85412BB2D155DC76DF/S1355770X15000376a.pdf/div-class-title-flooding-risks-and-housing-markets-a-spatial-hedonic-analysis-for-la-plata-city-div.pdf66938aaade2f5a55dd092b215004a7cf6f5a6bf8f2b,10.1111/1540-6229.12249,Estimating the Gains from New Rail Transit Investment: A Machine Learning Tree Approach,2018,Real Estate Economics,Seungwoo Chin; Matthew E. Kahn; H. R. Moon,"Urban rail transit investments are expensive and irreversible. Since people differ with respect to their demand for trips, their value of time, and the types of real estate they live in, such projects are likely to offer heterogeneous benefits to residents of a city. Using the opening of a major new subway in Seoul, we contrast hedonic estimates based on multivariate hedonic methods with a machine learning approach that allows us to estimate these heterogeneous effects. While a majority of the ""treated"" apartment types appreciate in value, other types decline in value. We explore potential mechanisms. We also cross-validate our estimates by studying what types of new housing units developers build in the treated areas close to the new train lines.",18.0,https://doi.org/10.3386/w233266709ba5bc20c4b8dd4891df1e9ed1d47b53aa5ee9df,10.1007/bf03399270,The Impact of Housing Market Segmentation between Tourists and Residents on the Hedonic Price for Landscape Quality,2008,,N. Soguel; Marc J. Martin; Alexandre Tangerini,"SummaryMarket segmentation is an important issue when estimating the implicit price for an environmental amenity from a surrogate market like property. This paper tests the hypothesis of a segmentation of the housing market between tourists and residents and computes the implicit price for natural landscape quality in Swiss alpine resorts. The results show a clear segmentation between both groups of consumers, although tests also show that the estimated coefficient for landscape is similar in the tourists’ model and in the residents’. However, since the functional form is non linear, the nominal — rather than relative — value of a change in natural landscape quality is higher in the tourist housing market than in the residents’. Hence, considering the segmentation of the market between tourists and residents is essential in order to provide valid estimates of the nominal implicit price of natural landscape quality.",16.0,https://sjes.springeropen.com/counter/pdf/10.1007/BF03399270671doi_10_4141_p03_164,10.4141/p03-164,The value of apple characteristics to wholesalers in western Canada: A hedonic approach,2004,Canadian Journal of Plant Science,Richard Carew; Elwin G. Smith,"Sensory methods have been used to evaluate subjective apple characteristics such as juiciness, flavour, and texture. There is very little information to indicate the value wholesalers place on objective apple characteristics such as cultivar, grade, and fruit size. In this study, a hedonic price function for apples was estimated to evaluate the relationship between British Columbia (BC) apple (Malus domestica Borkh.) prices and the wholesalers’ perception of product quality characteristics. In this study, sales data and cultivar characteristics were obtained for three large wholesalers in western Canada that purchase BC fruit. Cultivar, fruit size, and grade were the most significant variables influencing apple prices. Wholesalers paid price premiums ($2.25 to $5.25 per tray) for speciality cultivars such as Gala, Fuji and Braeburn compared with traditional cultivars such as McIntosh, Red Delicious and Spartan. Large fruit size earned a price premium ($1.73 per tray) and small fruit were discounted ($2.00 per tray) compared with medium size apples. Apples graded Canada Extra Fancy (One Stripe) and BC Extra Fancy provided packing houses with price premiums ($1.50) over Canada Fancy.",16.0,672292c512d2d63c2ad81fc5fc36761e5eb858acfc8,10.1016/s0197-3975(02)00018-8,Optimal site area for high-density housing development,2002,,Wing Suen; B. Tang,Abstract This study provides an empirical assessment of the optimal site area for master-planned high-density housing development in Hong Kong. Conventional hedonic pricing methods are not used because they cannot separate the amenity value of large sites from the price effects caused by market power. We obtain our estimate from a unique data set containing the choice of applicants for public housing units in 128 housing estates in Hong Kong between 1990 and 1998. An inverted U-shaped relationship between site area and popularity of the estate is revealed. We conclude that the land areas of most public housing estates in Hong Kong are sub-optimal. Our estimated optimal site area serves as a quantitative benchmark for the government in its future disposal of public as well as private housing land.,16.0,http://hdl.handle.net/10722/48714673doi_10_1111_1080_8620_00023,10.1111/1080-8620.00023,Do Tax‐Deferred Exchanges Impact Purchase Price? Evidence from the Phoenix Apartment Market,2001,Real Estate Economics,Andrew Holmes; Barrett A. Slade,"Many authors have commented on the compliance risk associated with tax‐deferred exchanges. However, no published studies explicitly address whether the risks associated with the exchange process impact the price at which exchanged assets trade. Using a unique data set that documents transactions for nondirect exchanges, this study examines the price impact of tax‐deferred exchanges on apartment transactions in the Phoenix, Arizona, market. Consistent with the price pressure hypothesis originally developed by Scholes (1972) and Kraus and Stoll (1972) and the tax capitalization hypothesis proposed by Oates (1969), the data show that exchange participants pay an economically significant premium to acquire replacement assets. A conventional hedonic price index is generated to investigate the rational bounds of the exchange premium.",14.0,674c7fa8bcdba6c4d955a2b84cdb3855a12474ce2f8,10.1111/jfr3.12774,Flood risk and residential real‐estate prices: Evidence from three US counties,2022,Journal of Flood Risk Management,Ryan G. Miller; N. Pinter,"This article analyzes residential property transactions to better understand the impact of urban flooding events and property distributions on the floodplain on real‐estate markets. We studied patterns before and after major fluvial flooding events in three counties that experienced such events between 2009 and 2013: Benton County, Oregon; Boulder County, Colorado; and Cass County, North Dakota. We tested for the presence and distribution of price discounting before and following these flood events using a hedonic difference‐in‐difference regression model. Floodplain discounts were detected in all three counties, over the full study period, including before and after flooding. However, only Boulder County exhibited a statistically significant price discount in the wake of the flooding event at the center of our analysis, with prices falling by 6.26% in the 100‐year floodplain until they rebounded after approximately 2–3 years. In Benton County, we were not able to detect a post‐flood price effect, but prices throughout the study period were 9.4% lower in the 100‐year floodplain compared to comparable properties outside the floodplain. Cass County experienced weaker discounting and ",13.0,https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jfr3.127746751287d2c07746d88955625b0cfbfb8cda0af84056,10.1080/24749508.2020.1756178,A GIS-based approach to explore the factors contributing towards Urban residential land development and re-development (LDR): a case of Rajshahi City Corporation area,2020,"Geology, Ecology, and Landscapes",Muhaiminul Islam; Md Nayem Uddin; M. M. Rahman,"ABSTRACT Urban Residential land development and redevelopment intensity (LDR) act as an essential index to understand magnitude of urban livability and sustainable development. Recent urbanization pattern of Rajshahi city has made a rising demand for land, which made it a precious commodity. As a result of it, Rajshahi City Corporation (RCC) area is undergoing significant residential LDR in recent years. The understanding of factors influencing this residential LDR has great importance in real estate development as well as overall housing situation of thecity. For this purpose, this study tries to explore the spatial characteristics of LDR. Relative Operating Characteristics (ROC) test statistics (>0.5) with improve hedonic model are set out to identify the internal drivers of LDR. Finally, geostatistics is explored by integrating methods of Geographic Information System (GIS) and SPSS regression analysis to analyze the correlation between LDR and driving factors. The spatial distribution of residential LDR has shown a strong distance decline law. One of the most exciting findings was that increase in distance to Central Business District (CBD) from the residential land has a sligh",13.0,https://doi.org/10.1080/24749508.2020.1756178676doi_10_1111_1540_6229_t01_20_00201,10.1111/1540-6229.t01-20-00201,Hedonic Property Valuation Models: Are Subjective Measures of Neighborhood Amenities Needed?,1979,Real Estate Economics,James R. Lang; Wesley H. Jones,"Common applications of hedonic residential property valuation models have relied on proxy measures of neighborhood amenities rather than directly measured subjective evaluations. While this approach simplifies data collection, there is reason to suspect that the use of proxy measures has degraded the accuracy of hedonic valuation models. The extent to which the use of proxy measures may decrease predictive accuracy, and fail to capture the effect of neighborhood amenities, has not been reported previously. The results presented here show that direct subjective measures yield only modest improvements in price prediction. Careful use of proxy measures for neighborhood amenities appears to be cost efficient for large‐scale appraisal work.",13.0,677doi_10_1007_978_1_4615_0909_7_9,10.1007/978-1-4615-0909-7_9,Neural Network vs. Hedonic Price Model: Appraisal of High-Density Condominiums,2002,Research Issues in Real Estate Real Estate Valuation Theory,K. C. Wong; Albert T. P. So; Y. C. Hung,,11.0,678467b5db9559e6802d7f96e2e470749e1440b69fd,10.1017/aae.2016.25,VALUING OPEN SPACE IN A MARSHLAND ENVIRONMENT: DEVELOPMENT ALTERNATIVES FOR COASTAL GEORGIA,2016,Journal of Agricultural and Applied Economics,Ajita Atreya; Warren P. Kriesel; J. Mullen,"Abstract In a coastal environment, open space can exist as land set aside by a real estate developer or as tidal marshland. In this article, we determine the relative values of both types of open spaces in a coastal county in Georgia using a spatial hedonic price framework. Results indicate that (1) there is a price premium associated with the marshlands and (2) developers have market incentives to incorporate more open space into their designs of residential subdivisions. Regarding marshlands, we also find that accessibility is an important variable that adds much more value to a property than just the proximity.",10.0,https://www.cambridge.org/core/services/aop-cambridge-core/content/view/A5482ACD5F89C53826F47184B8BD5374/S1074070816000250a.pdf/div-class-title-valuing-open-space-in-a-marshland-environment-development-alternatives-for-coastal-georgia-div.pdf679e365e9c5ba827ff6138c40ece99fdf0d945b9b05,10.1109/icmla.2017.00-94,A Spatio - Temporal Hedonic House Regression Model,2017,International Conference on Machine Learning and Applications,T. Oladunni; Sharad Sharma; Raymond Tiwang,,10.0,68018ea805d5a2f44f4bacc7ec0c10ee531f31a2a83,10.1109/tkde.2020.3010548,Modeling Submarket Effect for Real Estate Hedonic Valuation: A Probabilistic Approach,2021,IEEE Transactions on Knowledge and Data Engineering,Zhi-Cheng Liu; Jun Cao; Renjie Xie; Jun-Yan Yang; Qiao Wang,"It is critical for urban planners and real estate developers to understand how the built environment and house characteristics are valued in housing market. However, this problem is challenging because of the existence of the submarket effect resulted from the heterogeneity nature of city. In this paper, we propose a probabilistic approach to residential property hedonic valuation problem modeling the full scope of submarket effect based on built environment and house characteristics. Specifically, we introduce a latent variable representing housing submarket and model both of the submarket criteria and hedonic price model(HPM) into a Bayesian network. Utilizing the probabilistic dependencies in the Bayesian network, our model is able to capture the full scope of the submarket effect. Furthermore, to analyze the relationship among the discovered submarkets, we propose a probabilistic hierarchical clustering method to infer the hierarchical structure of housing market. In particular, we perform Bayesian hypothesis testings to find the most similar submarkets and agglomerate submarkets step-by-step, thus revealing the hierarchical structure of housing market. Finally, we conduct comp",9.0,https://doi.org/10.1109/tkde.2020.3010548681doi_10_1111_j_1475_6773_2006_00591_x,10.1111/j.1475-6773.2006.00591.x,Estimation of a Hedonic Pricing Model for Medigap Insurance,2006,Health Services Research,John Robst,"Objective. This paper uses a unique database to examine premiums paid by beneficiaries for Medigap supplemental coverage. Average premiums charged by insurers are reported, as well as premiums by enrollee age and gender, and additional policy characteristics. Marginal prices for Medigap benefits are estimated using hedonic price regressions. In addition, the paper considers how additional policy characteristics and geographic differences in the use and cost of medical care affect premiums. Data Sources/Study Setting. A comprehensive database on premiums paid by beneficiaries for newly issued Medigap policies in the year 2000 along with state‐level characteristics. Study Design. Hedonic pricing equations are used to estimate implicit prices for Medigap benefits. Data Collection/Extraction Methods. The Centers for Medicare & Medicaid Services contracted for the creation of a detailed database on Medigap premiums. Data were collected in three stages. First, letters were sent directly to insurers requesting premium data. Second, letters were directly to state insurance commissioner's offices requesting premium data. Last, each state insurance commissioner's office was visited to co",8.0,682f52092003bc600d8361ec68cd8e077cda8410774,10.3386/w28252,Why is Intermediating Houses so Difficult? Evidence from iBuyers,2020,Social Science Research Network,Greg Buchak; Gregor Matvos; T. Piskorski; Amit Seru,"We study the frictions in dealer-intermediation in residential real estate through the lens of “iBuyers,” technology entrants, who purchase and sell residential real estate through online platforms. iBuyers supply liquidity to households by allowing them to avoid a lengthy sale process. They sell houses quickly and earn a 5% spread. Their prices are well explained by a simple hedonic model, consistent with their use of algorithmic pricing. iBuyers choose to intermediate in markets that are liquid and in which automated valuation models have low pricing error. These facts suggest that iBuyers’ speedy offers come at the cost of information loss concerning house attributes that are difficult to capture in an algorithm, resulting in adverse selection. We calibrate a dynamic structural search model with adverse selection to understand the economic forces underlying the tradeoffs of dealer intermediation in this market. The model reveals the central tradeoff to intermediating in residential real estate. To provide valuable liquidity service, transactions must be closed quickly. Yet, the intermediary must also be able to price houses precisely to avoid adverse selection, which is difficul",8.0,https://doi.org/10.3386/w2825268371582f5038912c9996144f353323eb657c312604,10.1108/ijhma-02-2018-0017,Leveling the playing field: out-of-town buyer premiums in US housing markets over time,2019,International Journal of Housing Markets and Analysis,Katrin Kandlbinder; N. Miller; Michael A. Sklarz,"684Purpose685Historically, research shows that out-of-town buyers of real estate are informationally disadvantaged and therefore pay higher prices compared to in-town buyers. However, with the recent advent of online housing platforms, a plethora of information about the housing market is provided for free. The purpose of this paper is to examine whether out-of-town buyers do in fact pay a premium and why, and whether this premium has decreased because of better information availability.686687688Design/methodology/approach689A hedonic regression model over a ten-year window (2005, 2015) is developed to analyze condominium transactions in Miami-Dade County. The results are validated by various robustness checks and the propensity score matching algorithm to identify a comparable control sample for 2015 in terms of relevant housing characteristics.690691692Findings693The results support the hypothesis that out-of-town buyers pay higher prices for real estate, compared to their local counterparts, and that both search costs and anchoring cause a premium in both years, whereas wealth only plays a significant role in 2005. The premium because of search costs, and therefore, information availability has dec",8.0,694e4c99cb0673f5701b5a8c54aef99b5b0305f4014,10.1111/rurd.12061,DO PREFERENCES FOR AMENITIES DIFFER AMONG HOME BUYERS? A HEDONIC PRICE APPROACH,2017,,P. D. de Araujo; K. Cheng,,8.0,695doi_10_1111_j_1467_9787_1995_tb01402_x,10.1111/j.1467-9787.1995.tb01402.x,"TIME, HEDONIC MIGRATION, AND HOUSEHOLD PRODUCTION*",1995,Journal of Regional Science,Michael P. Shields,"ABSTRACT. A hedonic migration model is developed where regional amenities are viewed as influencing household production within the framework of the new demand theory. The inputs to household production are goods, time and housing. It is shown that economic growth in the economy as a whole will increase the relative attractiveness of regions that are relatively time‐saving, in the sense that they have a lower time elasticity of household production. Hence, migration will flow into time saving regions and housing costs in those regions will rise as real GDP grows.",7.0,696doi_10_1111_j_1475_4932_1991_tb02549_x,10.1111/j.1475-4932.1991.tb02549.x,Risk and Information: a Hedonic Price Study in the New Zealand Housing Market*,1991,Economic Record,S. A. MAANI; S. B. KASK,"This paper employs the hedonic price approach developed by Rosen (1974) and recently extended to study the effects of potential natural hazards on consumer behaviour. Hedonic prices are used to estimate home buyers' willingness to pay to avoid a high‐pressure gas pipeline installed in a residential area Studies of risk and information (e.g. Brookshire et al., 1985, Smith and Johnson, 1988) suggest that the subjective probability of a hazard occurring differs from the objective probability. If we allow for this, and relax the assumption of full information on the part of home buyers, our theoretical analysis indicates that a single hedonic price is not sufficient because hedonic prices are likely to change with a change in information. Our empirical analysis of cross‐sectional data across time is in accord with the theoretical model, although not highly significant",6.0,697doi_10_1111_j_1467_940x_1997_tb00102_x,10.1111/j.1467-940x.1997.tb00102.x,"A HEDONIC ANALYSIS OF LAND PRICES IN YAMANASHI PREFECTURE, JAPAN",1997,Review of Urban & Regional Development Studies,Katsumi Andoh; Makoto Ohta,"This paper presents a hedonic analysis of residential land prices in Yamanashi Prefecture for the period 1985–1995. The main purpose is to divide Yamanashi Prefecture (including selected attached areas) into Tokyo‐influenced and Kofu‐influenced areas. This was accomplished by finding the minimum sum of squared residuals following two hedonic regressions. One regression uses access to Tokyo Station, the other access to Kofu Station. We find that the Tokyo‐influenced area expanded during the period studied.",6.0,698doi_10_1111_j_1475_4932_1985_tb01999_x,10.1111/j.1475-4932.1985.tb01999.x,An Application of the Hedonic Price Model to the Perth Residential Land Market*,1985,Economic Record,COLIN J. BARNETT,This paper presents the results of an application of the Rosen‐Freeman hedonic price model to the Perth (Western Australia) residential land market. A sample of over two thousand market transactions is used to estimate the value of residential land attributes. Major emphasis is given to those particular land attributes that are subject to public regulation and to the policy implications that follow.,6.0,69957c335bdc135cb1099b3803d3a608f03a056258c,10.1109/icmla.2016.0097,Spatial Dependency and Hedonic Housing Regression Model,2016,International Conference on Machine Learning and Applications,T. Oladunni; Sharad Sharma,,6.0,700b717353621bb2977fa19a039f5bcfe9ff1e9e4d8,10.1029/2022ef003008,High‐Temperature Exposure and Land Transactions in China,2023,Earth's Future,Fang-Lin Chen; Xin Zhang; Zhong-Lan Chen,"We estimate the relationship between high‐temperature exposure and land transaction using daily transaction data from 2013 to 2018 in China. Standard hedonic price method is used to perform multidimensional fixed effects regression on 458,564 transaction samples. This study shows that each additional day of the extremely high temperature increases the average bid price by 0.6%, which is equivalent to an additional annual increase of 15.018 billion yuan in land transaction costs. The effect of high temperature on land prices is considerably stronger for residential and commercial lands. We further find that high‐temperature‐induced changes of mood and cognition play a role. Extreme gradient boosting (XGBoost) algorithm is used to calculate price deviation, which overcome missing eigenvalues and reduce nonlinear measurement error. Our findings indicate that heat can make investors more aggressive, which occurs when bidders continue to raise prices to win. The number of bidding behavior will not drop due to the hidden costs of land transactions. Specially, bidding experience offsets the cognitive output bias. This study contributes to the behavioral finance and decision‐making literat",5.0,https://doi.org/10.1029/2022ef003008701f023a63d044117ab65769ef8678cf41c9dcd6f9b,10.3390/su13105722,Urban Structure in Troubled Times: The Evolution of Principal and Secondary Core/Periphery Gaps through the Prism of Residential Land Values,2021,Sustainability,Erez Buda; Dani Broitman; D. Czamanski,"The structure of modern cities is characterized by the uneven spatial distribution of people and activities. Contrary to economic theory, it is neither evenly distributed nor entirely monocentric. The observed reality is the result of various feedbacks in the context of the interactions of attraction and repulsion. Heretofore, there is no agreement concerning the means to measuring the dimensions of these interactions, nor the framework for explaining them. We propose a simple model and an associated method for testing the interactions using residential land values. We claim that land values reflect the attractiveness of each location, including its observable and unobservable characteristics. We extract land values from prices of residences by applying a dedicated hedonic model to extensive residential real estate transaction data at a detailed spatial level. The resulting land values reflect the attractiveness of each urban location and are an ideal candidate to measure the degree of centrality or peripherality of each location. Moreover, assessment of land values over time indicates ongoing centralization and peripheralization processes. Using the urban structure of a small and ",5.0,https://www.mdpi.com/2071-1050/13/10/5722/pdf?version=162148600870216cc600420fba3a1da5111ab0d68bf2ffb371075,10.17208/jkpa.2019.11.54.6.80,Comparing the Housing Implicit Prices of Restricted and Unrestricted Hedonic Price Models,2019,,Wonseok Seo,,5.0,7039511df21f273f0ab188033a4b9e30daa499a1a5d,10.24201/edu.v28i2.1433,"Valuación de la calidad urbano-ambiental. Una modelación hedónica: San Nicolás de los Garza, México",2013,,Jesús Manuel Fitch Osuna; K. Canales; R. Mendiola,"This research deals with the theory of spatial information in real estate values (housing) in the municipality of San Nicolas de los Garza, Mexico, an area is immersed in a metropolitan dynamic. Consequently, the real estate process is evaluated in the context of the central and peripheral forces that generate growth and the urban and housing life cycle as well as urban environmental quality. The result is a hedonic pricing model to define the attributes that explain, with a greater degree of significance, the change in land value. All this contributes to the implementation of a land policy.",4.0,https://doi.org/10.24201/edu.v28i2.1433704f3338a7eb06d69a36952efd3811a6a59f21e908a,10.1590/1413-8050/ea36708,Índice de preços Hedônicos para imóveis: Uma análise para o Município de Belo Horizonte.,2015,,Luiz Andrés Ribeiro Paixão,"This paper focuses on measuring the price appreciation of several real estate types between 1995 and 2003. We used as sample transaction values of apartments, houses, huts, shops, halls, warehouses and land in Belo Horizonte. The hedonic pricing method was used once its basic premise is that the price of a marketed good is related to its characteristics. As a result, we could realize that the properties valuation was small in the period, in many cases below the inflation rate, due to the poor economy, high interest rates, and housing credit small volume.",4.0,http://www.scielo.br/pdf/ecoa/v19n1/1980-5330-ecoa-19-01-00005.pdf705b68ffa9feb59bc3834a29453f69f666e5fe24968,10.22004/ag.econ.205664,Validating Spatial Hedonic Modeling with a Behavioral Approach: Measuring the Impact of Water Quality Degradation on Coastal Housing Markets,2015,,R. Mahesh,,4.0,70610331812682fcc8e918f8b1d29f98710f5adb92e,10.58224/2500-3747-2024-6-65-74,Методы оценки стоимости жилой недвижимости в условиях рыночной нестабильности,2024,Modern Economy Success,Белозеров Е. А.,"в условиях высокой волатильности рынка недвижимости задача точной оценки стоимости жилья приобретает особую актуальность и сложность. Для понимания проведен анализ сущности термина «оценка стоимости недвижимости» и сформулировано по итогам критического обзора авторское мнение на этот счет. В дальнейшем работа посвящена всестороннему обзору и анализу широкого спектра методов оценки, применяемых в условиях неопределенности. Доходный подход анализируется через оценку будущих денежных потоков, генерируемых объектом недвижимости. Обсуждаются традиционные методы, такие как прямая капитализация и дисконтированные денежные потоки (DCF), а также современные методы, включая метод реальных опционов, который учитывает гибкость управления недвижимостью и возможность изменения стратегии в будущем. Проводится сравнительный анализ преимуществ и недостатков каждого метода доходного подхода, рассматриваются ограничения и особенности их применения в условиях рыночной нестабильности. Особое внимание уделяется сравнительному подходу, который рассматривается как основа для определения рыночной стоимости. Подчеркивается важность комбинирования традиционных методов сравнительного подхода с аналитическими ",3.0,7070aadab22e8e7afe59211c798afdd8945783c8065,10.15826/jtr.2021.7.1.087,Individual property tax to fund public transport,2021,,E. Leontev; Y. Leontyeva,"Efficient and reliable public transport is of prime concern to city dwellers. To function efficiently, public transport generally needs subsidies from the state or local government. Our goal was to design and develop an alternative model of property tax that would provide financing for public transport. It was hypothesised that if the market value of real estate depends on the proximity of public transport, property tax can be a reliable source of financing for public transport. Based on the hedonic pricing theory, we used multiple regression to measure the impact of public transport proximity on the value of residential property. The data on the market value of property and property tax was taken from statistical tax reporting forms of the Federal Tax Service. The data on various public transport infrastructure facilities was used from the specialized open registers. We tested our alternative model of property tax, using the case of the Ekaterinburg Metro and the Tram and Trolleybus Company, through regression analysis of 7,685 objects of residential property in the City of Ekaterinburg. It was found that the efficiency of the underground service is higher than that of the city’s ",3.0,https://doi.org/10.15826/jtr.2021.7.1.08770801ea132f4898d955e0b682ac4aeb09ec7c778707,10.48550/arxiv.2302.00117,Real Estate Property Valuation using Self-Supervised Vision Transformers,2023,arXiv.org,Mahdieh Yazdani; M. Raissi,"The use of Artificial Intelligence (AI) in the real estate market has been growing in recent years. In this paper, we propose a new method for property valuation that utilizes self-supervised vision transformers, a recent breakthrough in computer vision and deep learning. Our proposed algorithm uses a combination of machine learning, computer vision and hedonic pricing models trained on real estate data to estimate the value of a given property. We collected and pre-processed a data set of real estate properties in the city of Boulder, Colorado and used it to train, validate and test our algorithm. Our data set consisted of qualitative images (including house interiors, exteriors, and street views) as well as quantitative features such as the number of bedrooms, bathrooms, square footage, lot square footage, property age, crime rates, and proximity to amenities. We evaluated the performance of our model using metrics such as Root Mean Squared Error (RMSE). Our findings indicate that these techniques are able to accurately predict the value of properties, with a low RMSE. The proposed algorithm outperforms traditional appraisal methods that do not leverage property images and has th",3.0,http://arxiv.org/pdf/2302.00117709doi_10_1080_00420989120080921,10.1080/00420989120080921,Hedonic Indices and Housing Programme Benefits,1991,Urban Studies,Isaac F. Megbolugbe,"The availability of reliable measures of housing programme benefits is important for decisions that planners make about appropriate housing policies. This paper advocates the use of hedonic price estimation techniques for the direct measurement of housing programme benefits in developing countries without restrictive characterisations of housing demand. A market-weighted economic welfare index is used to measure the housing benefits. The benefits are the difference between estimated hedonic price equations before and after the implementation of a programme summed across all households and then multiplied by the cash equivalent of a unit of hedonic value. The cash value of a unit of hedonic value is determined by dividing the observed aggregate market value of houses in an analysis sample by the estimated aggregate hedonic value for that sample. Measuring housing programme benefits from direct market valuation of programme-induced changes in housing attributes does not imply that such programmes are necessarily efficient means of delivering services to residents. Nevertheless, the hedonic approach enables policy-makers to consider the opportunity cost for participants through robust",3.0,710doi_10_3406_aru_2012_2799,10.3406/aru.2012.2799,"Prix fonciers, immobiliers et localisation des ménages au sein d'une agglomération urbaine",2012,Les Annales de la recherche urbaine,Claude Napoléone,"With a spatialized hedonic price method, on land market of a French administrative subdivision, we studies the urban sprawl, to understand influences disturbing open spaces (natural and agricultural). We wanted work by using a scale about the vicinity. We tested the integration of geomatic and landscape ecology tools to a new urban economy micro-economic model, in order to taking into account spatial heterogeneities. In the second time, we proposed a modeling of landowners' anticipations and demand preferences. Our principal result are of four orders. 1/ We show that change anticipations of land use rules undervalue the public planning effects ; 2/ The wildfire hazard not influence the residential localization ; 3/ The landscape ecology tools make it possible to integrate the spatial structure of the vicinity into an real estate valuation economic model ; 4/ The public services accessibility and the type of social neighborhood segregate the real estate purchase.",3.0,711c360b31fe2ed879c6a79bc1b35ce53f12d3212c6,10.6106/kjcem.2015.16.5.077,"Using Ridge Regression to Improve the Accuracy and Interpretation of the Hedonic Pricing Model : Focusing on apartments in Guro-gu, Seoul",2015,,Bonsang Koo; Byungjin Shin,,3.0,http://koreascience.or.kr:80/article/JAKO201530261999206.pdf712