The Impact of Neighborhood Characteristics on Housing Prices-An Application of Hierarchical Linear Modeling
AbstractHousing data are of a nested nature as houses are nested in a village, a town, or a county. This study thus applies HLM (hierarchical linear modelling) in an empirical study by adding neighborhood characteristic variables into the model for consideration. Using the housing data of 31 neighborhoods in the Taipei area as analysis samples and three HLM sub-models, this study discusses the impact of neighborhood characteristics on house prices. The empirical results indicate that the impact of various neighborhood characteristics on average housing prices is different and that the impact of house characteristics on house prices is also moderated by neighborhood characteristics.
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Bibliographic InfoArticle provided by Asian Economic and Social Society in its journal International Journal of Management and Sustainability.
Volume (Year): 1 (2012)
Issue (Month): 2 (December)
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Neighborhood characteristics; house prices; hierarchical linear modelling (HLM); random effect; moderate effect.;
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- Chung-Chang Lee, 2009. "Hierarchical Linear Modeling to Explore the Influence of Satisfaction with Public Facilities on Housing Prices," International Real Estate Review, Asian Real Estate Society, vol. 12(3), pages 252-272.
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