A hedonic assessment of the relative importance of structural, locational and neighbourhood factors on advertised rents in Malta

Micallef, Brian; Ellul, Reuben; DeBono, Nathan L

doi:10.1108/ijhma-11-2020-0141

Cited by 7 publications

(5 citation statements)

References 43 publications

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“…The results of this study identify the statistical influence of the analysed variables on housing price formation in the Chilean case using hedonic price analysis (Micallef et al 2021). This will enable a review of which set of variables used in the literature best contributes to explaining housing prices in the city of Santiago de Chile and other cities in South America.…”

Section: Introductionmentioning

confidence: 87%

Testing Housing Price Drivers in Santiago de Chile: A Hedonic Price Approach

Vergara-Perucich

2023

CHA

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Hedonic modelling is an empirical analysis technique that is widely used to review the housing market and unpack the main determinants of price. A correct determination of housing price drivers allows a weighted prediction of the value of each dwelling for sale or rent. This paper reviews the fundamental determinants of housing prices that have been published in the literature to see which ones have a better predictive fit for the case of the housing market in the city of Santiago, Chile. From a record of 456,000 property transactions, a dataset composed of 11 explanatory variables is elaborated. Through a semi-logarithmic regression, 4 variables that contribute to explaining the formation of housing prices in Santiago, Chile, are identified. The results indicate that the socioeconomic characterisation of urban areas where housing is traded, the price of copper on the London Metal Exchange, the mortgage interest rate, the age of residential buildings are the main drivers for the main drivers of prices in Santiago. Given the crisis of access to housing in Chile, the article provides relevant information for decision-makers in housing policy.

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Section: Introductionmentioning

confidence: 87%

Testing Housing Price Drivers in Santiago de Chile: A Hedonic Price Approach

Vergara-Perucich

2023

CHA

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“…Ellul [66] and Fearne [69] used web-scraped data from Airbnb to analyse this form of short-term accommodation in Malta. Micallef et al [70] web-scraped advertised rents in Malta from public sources. Another local study focused directly on web-scraped development-planning applications, with a particular focus on the ratio of the number of granted ODZ permits to the total number of permits granted within the development zone.…”

Section: Data Collationmentioning

confidence: 99%

Urban Growth in a Mediterranean Island-State: A Data-Driven Study of Malta’s Development Permits in the Last Thirty Years

Pace,

Attard,

Camilleri

et al. 2023

Sustainability

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Land is a natural resource, and settlement development is central for human activities. The growth of settlements comes at the expense of natural and agricultural land. Understanding urban growth dynamics, defined in this study as new urban development, can lead to an increased awareness of the stresses on land resources and the suitability of current land use policies. It can also reflect how changes in the economic cycles and planning policies can influence these dynamics. This is even more critical in small island states, where land is a scarce resource. This study uses data extracted from development-planning applications between 1993 and 2019 in order to understand urban growth in the island-state of Malta. A methodology was developed to (i) use web-scraping techniques to extract development-planning applications data from a public online database in order to define development descriptors, (ii) establish keywords that imply growth within the urban area, and (iii) analyse growth in view of local planning zones and regulations. The results show that over the years, there has been a decrease in the share of granted development-planning applications that lead to the growth of the urban area when compared to those granted applications permitting other forms of development, such as that linked to minor modifications to existing buildings and restoration works amongst others. Nonetheless, the absolute number of granted development-planning applications resulting in growth has increased, particularly in the last construction boom (post 2013). The share of applications denoting growth granted within the development zone has remained stable throughout the years. The years with the highest numbers of permits granted outside the development zone, where there was a disposition against development, were 2017 and 2018. In conclusion, the trends and patterns resulting from development cycles were analysed and discussed. The outcomes of this work will lead to better measurement of urban growth in Malta and assess the efficacy of current national development-planning policies. This is in line with the UN’s Sustainable Development Goal 11, which aims at making “cities and human settlements inclusive, safe, resilient, and sustainable”. The research specifically addresses Target 11a, which is focused on supporting “positive economic, social, and environmental links between urban, peri-urban, and rural areas by strengthening national and regional development planning”.

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“…Hedonic values that affect impulse buying behavior such as enjoyment, scape and self-pride are not discussed in terms of housing and real estate (Micallef et al , 2022). This study tries to relate the hedonic value and impulse buying when it comes to purchasing a house or a real estate (Clark et al , 2021).…”

Section: Review Of Literaturementioning

confidence: 99%

Are expensive decisions impulsive? Young adults’ impulsive housing and real estate buying behavior in India

Sehra

Godwin²,

George³

2022

IJHMA

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Purpose The purpose of the study is to determine website quality, materialism, psychological factors, hedonic value and social media as factors that influence the young adults’ impulsive housing and real estate buying behavior in India. In addition, this study also measures the mediating effects of social media influence between psychological factors and hedonic value and young adults’ impulsive housing and real estate buying behavior. Design/methodology/approach Related literature, quantifiable variables with a five-point Likert Scale, hypothesis testing and mediators are used to study the model. A systematic questionnaire that was divided into six sections was used. A total of 385 valid responses were collected and analyzed through a structural equation model. Findings The results suggest that materialism, psychological factors and social media have a considerable impact on young adults’ impulsive housing and real estate buying behavior. The findings also ascertained that website quality and hedonic value do not have a considerable impact on young adults’ impulsive housing and real estate buying behavior. Research limitations/implications This study is limited to the responses of young consumers from a limited number of brokers and regions in India. Future studies could be more widespread across the globe. Originality/value As per the review of existing literature, this research is the first, to the best of the authors’ knowledge, to determine the factors affecting the impulse buying decision mainly in the housing and real estate sector with the target consumers being young.

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A hedonic assessment of the relative importance of structural, locational and neighbourhood factors on advertised rents in Malta

Cited by 7 publications

References 43 publications

Testing Housing Price Drivers in Santiago de Chile: A Hedonic Price Approach

Testing Housing Price Drivers in Santiago de Chile: A Hedonic Price Approach

Urban Growth in a Mediterranean Island-State: A Data-Driven Study of Malta’s Development Permits in the Last Thirty Years

Are expensive decisions impulsive? Young adults’ impulsive housing and real estate buying behavior in India

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