Defining Housing Submarkets

Bourassa, Steven C.; Hamelink, Foort; Hoesli, Martin; Macgregor, Bryan D.

doi:10.1006/jhec.1999.0246

Cited by 265 publications

(286 citation statements)

References 0 publications

Supporting

Mentioning

258

Contrasting

Unclassified

Order By: Relevance

“…using post codes or districts) have frequently been used to identify submarkets (Goodman, 1977). A second approach exploits factor analysis and statistical clustering techniques to assign properties to housing submarkets (Dale-Johnson, 1983;Bourassa, Hamelink, Hoesli and MacGregor, 1999). Designing hierarchical models for house prices using nested models is a third approach to identify the boundaries of housing submarkets (Goodman and Thibodeau, 1998).…”

Section: Market Segmentationmentioning

confidence: 99%

The Impact of Housing Market Segmentation between Tourists and Residents on the Hedonic Price for Landscape Quality

Soguel

Martin

Tangerini

2008

Swiss J Economics Statistics

View full text Add to dashboard Cite

Summary Market 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.

show abstract

Section: Market Segmentationmentioning

confidence: 99%

The Impact of Housing Market Segmentation between Tourists and Residents on the Hedonic Price for Landscape Quality

Soguel

Martin

Tangerini

2008

Swiss J Economics Statistics

View full text Add to dashboard Cite

show abstract

“…Submarkets may be defined by location, structure type, structural characteristics, or neighborhood characteristics. There has been extensive debate in the literature about the validity of different approaches to define and identify submarkets (Allen et al, 1995;Adair et al, 1996;Bourassa et al, 1999;Bourassa et al, 2003).…”

mentioning

confidence: 99%

Hedonic Modeling for a Growing Housing Market: Valuation of Apartments in Complexes

Ayan¹,

Erkin²

2014

IJEF

View full text Add to dashboard Cite

The share of apartment complexes in housing stock of major cities in the developing world has been increasing. They represent a different housing submarket whose growing importance necessitates further research. Using survey data on transaction records of real estate agents, we employ a hedonic pricing model to explore the factors influencing apartment prices in the Metropolitan Izmit area. The site of a major reconstruction effort following a strong earthquake, Izmit has been in the forefront of the changes taking place in the Turkish real estate sector in particular, and in urban housing in general. We aim to get better estimates by focusing the study on apartment complexes in Metropolitan Izmit, the major submarket in the area. The results reveal that structural characteristics of an apartment as well as amenities provided in an apartment complex are important determinants of price. Air quality and proximity to a good public school have a major effect on price as well. The findings suggest that the submarket could be segmented further geographically.

show abstract

“…Clustering has been used in real estate by Bourassa et al (1999), and in agent-based modeling by Fernandez et al (2005) among others, and it has been used extensively in ecological studies and natural sciences (LILLESAND et al, 2004).…”

Section: Methodology: Multivariate Analysis -Clusteringmentioning

confidence: 99%

Land use interpretation for cellular automata models with socioeconomic heterogeneity

Furtado

2011

Ambient. constr.

View full text Add to dashboard Cite

Cellular automata models for simulation of urban development usually lack the social heterogeneity that is typical of urban environments. In order to handle this shortcoming, this paper proposes the use of supervised clustering analysis to provide socioeconomic intra-urban land use classification at different levels to be applied to cellular automata models. An empirical test in a highly diverse context in the Greater Metropolitan Area of Belo Horizonte (RMBH) in Brazil is provided. The results show that a reliable division into different socioeconomic land-use classes at large scale enable detailed urban dynamic analysis. Furthermore, the results also allow the quantification of the proportion of urban space occupation for different levels of income; (2) and their pattern in relation to the city centre.

show abstract

Defining Housing Submarkets

Cited by 265 publications

References 0 publications

The Impact of Housing Market Segmentation between Tourists and Residents on the Hedonic Price for Landscape Quality

The Impact of Housing Market Segmentation between Tourists and Residents on the Hedonic Price for Landscape Quality

Hedonic Modeling for a Growing Housing Market: Valuation of Apartments in Complexes

Land use interpretation for cellular automata models with socioeconomic heterogeneity

Contact Info

Product

Resources

About