Estimation of variance of housing prices using spatial conditional heteroskedasticity (SARCH) model with an application to Boston housing price data

Simlai, Prodosh

doi:10.1016/j.qref.2013.07.001

Cited by 23 publications

(20 citation statements)

References 54 publications

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“…The result of econometric analysis proves that real estate price is reduced by the negative quality of living, here represented by noise pollution. The specific research field deals with predictive models [15], implementation of GIS (Geographic Information System) software [16], and many others [17].…”

Section: Land Price Sustainabilitymentioning

confidence: 99%

Spatio-Temporal Changes and Dependencies of Land Prices: A Case Study of the City of Olomouc

et al. 2018

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Land price sustainability issues have been addressed by many authors in the past. Most of these researchers used land prices (from land price maps) as the primary data source in their studies. Only a few papers analysed official land price maps, which are available very rarely. For this reason, we studied the spatial and temporal changes of land prices in the city of Olomouc based in an analysis of official land price maps from 1993 to 2017. We proposed several research hypotheses to confirm some general statements about land price changes. We concluded that some economic indicators had a significant impact on changes in land prices. In the residential and commercial areas and historical centre, land prices are significantly higher than in other monitored aspects (land-use types). We also concluded that no link existed between land-use stability and land price stability. Surprisingly, no long-term stable areas were found in the area of interest. The analysis also confirmed that land price and its change over time varied in different spatial aspects. Unexpectedly, the smallest influence was reflected in the economic aspect. Regarding natural events in recent decades, we observed a significant drop in land prices in the vicinity of watercourses threatened by flooding. These findings can assist in better understanding local development and changes in land price. The results of this study can help in gaining better understanding of economic, social, and environmental aspects of sustainability of land price changes.

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Section: Land Price Sustainabilitymentioning

confidence: 99%

Spatio-Temporal Changes and Dependencies of Land Prices: A Case Study of the City of Olomouc

et al. 2018

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“…Most studies have found that under the effect of the diminishing marginal utility law, larger-sized housing will give rise to a discount effect (Rosen, 1974;Turnbull et al, 2006;Asabere & Huffman, 2013;Simlai, 2014). For example, Simlai (2014) argued that the total housing price would increase with the increase in its size, but that this tendency would decelerate as the size further increased. The marginal substitution rate of the house size and the willingness to pay would decrease.…”

Section: House Size and Pricementioning

confidence: 99%

“…In comparison to the land, the size differences between different housing alternatives are relatively small. However, the housing price exhibits a nonlinear relationship with the house size (Hamilton, 1976;Haurin, 1988;Turnbull et al, 2006;Leguizamon, 2010;Zahirovic-Herbert & Chatterjee, 2011;Asabere & Huffman, 2013;Simlai, 2014;Li et al, 2015;Lee & Mori, 2016. Since the empirical results of previous studies are quite strikingly different, it is necessary to clarify the relationship between the house size and price.…”

Section: Introductionmentioning

confidence: 99%

Non-Linear Relationships Between House Size and Price

Feng

Peng

Yang

et al. 2021

International Journal of Strategic Property Management

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This study reexamines the relationship between house size and price by using the quantile regression model. Housing transactions data of the National Taipei University Special Zone in Taiwan are adopted, and the findings are as follows. First, the total price of a smaller housing unit will increase at a decreasing rate as its size increases. The decrease in marginal price might be due to the declining marginal utility of the property right. Secondly, the total price of a larger housing unit will increase at an increasing rate as its size increases. The size premium effect might be due to the influence of conspicuous consumption. Thirdly, housing with a lower square meter price is subject to greater price competitiveness in the market, and the price will increase at a decreasing rate as the size increases. Conversely, a housing unit with a higher square meter price will decrease at an increasing rate as its size increases. This might be due to the constraint imposed by the purchaser’s housing affordability. These findings clarify the nonlinear relationships between housing size and price, and provide very useful information for decision making of the developers, home purchasers, real estate appraisers, and the governments.

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“…The research centres on issues linked to land price volatility [4,5], inflation [3], structure [6], development [7][8][9] and factors influencing land price [1,[10][11][12]. The specific research field deals with predictive models [13], implementation of GIS (Geographic Information System) software [14] and many others.…”

Section: Land Price Sustainabilitymentioning

confidence: 99%

Spatio-Temporal Changes and Dependencies of Land Price Development: A Case Study of the City of Olomouc

Burian¹,

Macků²,

Zimmermannová³

et al. 2018

Preprint

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Land price sustainability issues have been addressed by many authors in the past. Most of these researchers used land prices (from land price maps) as the primary data source in their studies. Only a few papers analysed official land price maps, which are available very rarely. For this reason, we studied the spatial and temporal changes of land prices in the city of Olomouc based on an analysis of official land price maps from 1993 to 2017. We proposed several research hypotheses to confirm some general statements about land price development. We concluded that some macroeconomic indicators had a significant impact on changes in land prices. In the residential and commercial areas and historical centre, land prices are significantly higher than in other monitored aspects (land-use types). We also concluded that no link existed between land-use stability and land price stability. Surprisingly, no long-term stable areas were found in the area of interest. The analysis also confirmed that land price and its change over time varied in different spatial aspects. Surprisingly, the smallest influence was reflected in the economic aspect. Regarding natural events in recent decades, we observed a significant drop in land prices in the vicinity of watercourses threatened by flooding. These findings can assist in better understanding local development and changes in land price.

show abstract

Estimation of variance of housing prices using spatial conditional heteroskedasticity (SARCH) model with an application to Boston housing price data

Cited by 23 publications

References 54 publications

Spatio-Temporal Changes and Dependencies of Land Prices: A Case Study of the City of Olomouc

Spatio-Temporal Changes and Dependencies of Land Prices: A Case Study of the City of Olomouc

Non-Linear Relationships Between House Size and Price

Spatio-Temporal Changes and Dependencies of Land Price Development: A Case Study of the City of Olomouc

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