Residential Hedonic Models: A Rational Expectations Approach to Age Effects

Clapp, John M.; Giaccotto, Carmelo

doi:10.1006/juec.1997.2076

Cited by 87 publications

(59 citation statements)

References 15 publications

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“…Sales can be compared to one another, taking into account the effects of time (i.e., inflation/deflation), to determine the value of any specific attribute (Butler, 1982;Clapp and Giaccotto, 1998;Jackson, 2001;Simons and Saginor, 2006;Jauregui and Hite, 2010;Kuminoff et al, 2010;Zabel and Guignet, 2012).…”

Section: Methods To Quantify Whether Wind Turbines Are a Disamenitymentioning

confidence: 99%

Impacts of Wind Turbine Proximity on Property Values in Massachusetts

Atkinson-Palombo¹

2013

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Section: Methods To Quantify Whether Wind Turbines Are a Disamenitymentioning

confidence: 99%

Impacts of Wind Turbine Proximity on Property Values in Massachusetts

Atkinson-Palombo¹

2013

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“…The empirical evidence also indicates that buyers have been found to value physical/structural attributes of the residential property such as floor size (Mok et al, 1995), the number of rooms, bedrooms and bathrooms (Fletcher et al, 2000), floor level (Conroy et al, 2013), building age (Clapp and Giaccotto, 1998) and garage (Forrest and Ward, 1996). In the case of condominiums, attributes such as sports and recreational facilities (tennis court, gymnasium, swimming pool and sauna), security, parking space and developer's reputation are positively valued by the buyers (Abu Zharin and Bujang, 1999).…”

Section: Prior Empirical Findingsmentioning

confidence: 99%

Does Accessibility to the Central Business District (CBD) Have an Impact on High-Rise Condominium Price Gradient in Kuala Lumpur, Malaysia?

Dziauddin¹,

Misran²

2016

SHS Web of Conferences

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This paper uses a spatial econometric method known as Geographically Weighted Regression (GWR) to investigate the impact of accessibility to the CBD on the high-rise condominium price gradient in Kuala Lumpur, Malaysia. Using a GWR method, after having controlled other factors, this study clearly reveal the impact of accessibility to the CBD on high-rise condominium varying prices across the study area, having a much larger positive impact in some areas but less and counterintuitive impact in others. In general, the results from this study show accessibility to the CBD measured by the travel times does affect high-rise condominium prices (high-rise condominium prices decrease as travel times to the CBD increase) in most part of the areas, hence proved Alonso, Muth and Mills were still right.

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“…The most recent study specifically analyzing age-effects on house values was conducted by Clapp and Giaccotto (1998). Using a repeat sales database containing house transactions from 1981 to 1991 in Fairfax County, Virginia, the researchers created a time series of age coefficients.…”

Section: Empirical Studies Focused On the Impact Of Vintage On House mentioning

confidence: 99%

“…Randolph (1988) later suggested that vintage effect is initial unmeasured quality of location and structural characteristics associated with homes built in a given year. While Clapp and Giaccotto (1998) argue that vintage effect (age independent of physical depreciation) can be negative if individuals have a pure taste for newer houses as suggested by Rubin (1993), but can also be positive whenever individual tastes and preferences shift to older homes. This paper provides a thorough review of the related literature, an explanation of the data and methodology employed to study vintage effect, and a discussion of the results and the implications of the research findings.…”

Section: Introductionmentioning

confidence: 99%