Internet-Based Hedonic Indices of Rents and Prices for Flats: Example of Berlin

Kholodilin, Konstantin A.; Mense, Andreas

doi:10.2139/ssrn.2013076

Cited by 6 publications

(7 citation statements)

References 8 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Ahlfeldt and Maennig (2010) analyze the external effects of heritage-listed buildings on condominium transaction prices in Berlin and find that such buildings have a positive external effect on surrounding property prices. Kholodilin and Mense (2012) construct rent and price indices for Berlin districts based on their analysis of internet ads.…”

Section: Literature Reviewmentioning

confidence: 99%

Do urban tourism hotspots affect Berlin housing rents?

Schäfer

Hirsch

2017

IJHMA

View full text Add to dashboard Cite

Purpose This study aims to analyze whether urban tourism affects Berlin housing rents. Urban tourism is of considerable economic importance for many urban destinations and has developed very strongly over the past few years. The prevailing view is that urban tourism triggers side-effects, which affect the urban housing markets through a lack of supply and increasing rents. Berlin represents Germany’s largest rental market and is particularly affected by growing urban tourism and increasing rents. Design/methodology/approach The paper considers whether urban tourism hotspots affect Berlin’s housing rents, using two hedonic regression approaches, namely, conventional ordinary least squares (OLS) and generalized additive models (GAM). The regression models incorporate housing characteristics as well as several distance-based measures. The research considers tourist attractions, restaurants, hotels and holiday flats as constituents of tourism hotspots and is based on a spatial analysis using geographic information systems (GIS). Findings The results can be regarded as a preliminary indication that rents are, indeed, affected by urban tourism. Rents seem to be positively correlated with the touristic attractiveness of a particular location, even if it is very difficult to accurately measure the real quantity of the respective effects of the urban tourism amenities, as the various models show. GAM outperforms the results of OLS and seems to be more appropriate for spatial analysis of rents across a city. Originality/value To the best of the authors’ knowledge, the paper provides the first empirical analysis of the effects of urban tourism hotspots on the Berlin housing market.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Do urban tourism hotspots affect Berlin housing rents?

Schäfer

Hirsch

2017

IJHMA

View full text Add to dashboard Cite

show abstract

“…Some studies compare the renting market with the sales market in the Berlin housing market. Kholodilin and Mense (2012), which use a similar dataset to the one used in this study for a shorter time frame, find that while rents and sales prices are influenced differently by some property-specific characteristics such as the flat's area, floor level and type of flat, they show similar patterns in spatial and temporal fixed effects respectively. Kholodili et al (2017) compare the capitalisation of energy efficiency in selling prices and rents.…”

Section: Literature Reviewmentioning

confidence: 67%

“…From the original dataset representing the fully online transaction universe of the Berlin housing market for over 50,000 observations, we select 17,500 observations randomly for each transaction type, as it is the maximum size we can apply for the spatial application. Our dataset is similar to studies such as Kholodilin and Mense (2012). They use online price data for their hedonic price model between June 2011 and February 2012.…”

Section: Datamentioning

confidence: 99%

Different preferences, but the same approach: the practice of the sales comparison in the Berlin housing rental and sale market

Hyun

Heinig

2022

J Hous and the Built Environ

View full text Add to dashboard Cite

While determining the value of various housing attributes can vary between sales and rental markets, market participants may use the sales comparison approach as a common strategy. Due to the intransparent and illiquid nature of the housing market, the method provides a simple way for market participants in the two different markets to agree on prices. We show that a strong dependence tendency of market participants on market price information is commonly observed in both the sales and the rental market. Using spatial econometrics for 17,500 apartment rents and sales data respectively in Berlin, Germany, we find that the dependence tendency in the rental market is significant, and it is comparable with that in the sales market. In particular, the results are robust within the restricted market setting of increased regulation for rent. These findings are robust over various spatial specifications.

show abstract

“…The identification of the announcement effect requires to account for time trends in the sample as well as local time trends that might differ substantially since we attempt to use observations from Berlin, for which prices increased sharply in 2011 (see, e.g. Kholodilin and Mense (2012)) and Brandenburg. The interaction of A i and G i is designed to catch these trends.…”

Section: Empirical Specificationmentioning

confidence: 99%

Noise Expectation and House Prices

Mense¹,

Kholodilin

2012

SSRN Journal

Self Cite

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Abstract Terms of use: Documents inIn this paper, we examine the effects of an airport expansion on the prices of houses and flats located under the planned flight corridors. We focus on the role of expectations about the exposure to noise and find that proximity to the planned corridors significantly reduces real estate prices in the affected areas, by at least 28%, depending on the sample. Hereby, the various plans of expanding Berlin-Brandenburg International airport are used as a source of exogenous variation.

show abstract

Internet-Based Hedonic Indices of Rents and Prices for Flats: Example of Berlin

Cited by 6 publications

References 8 publications

Do urban tourism hotspots affect Berlin housing rents?

Do urban tourism hotspots affect Berlin housing rents?

Different preferences, but the same approach: the practice of the sales comparison in the Berlin housing rental and sale market

Noise Expectation and House Prices

Contact Info

Product

Resources

About