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Housing Market Segmentation: A Review

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  • Kazi Saiful Islam
  • Yasushi Asami

Abstract

The definitions and methods of housing market segmentation depend on the use to which they are put. Typically, they are used for price prediction, formulation of appropriate marketing strategy and for understanding housing market structure. From simple observation†based methods to modern complicated spatial statistics†based automations, research on housing market segmentation has developed over many phases in the last six decades. This paper explores the diversification of the definitions, methods and findings of the research into housing market segmentation to identify future research direction.

Suggested Citation

  • Kazi Saiful Islam & Yasushi Asami, 2009. "Housing Market Segmentation: A Review," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 21(2†3), pages 93-109, July.
    • Handle: RePEc:bla:revurb:v:21:y:2009:i:2-3:p:93-109
    DOI: 10.1111/j.1467-940X.2009.00161.x
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    Cited by:

    1. Charles-Olivier Amédée-Manesme & Michel Baroni & Fabrice Barthélémy & Francois des Rosiers, 2017. "Market heterogeneity and the determinants of Paris apartment prices: A quantile regression approach," Urban Studies, Urban Studies Journal Limited, vol. 54(14), pages 3260-3280, November.
    2. Yuan, Feng & Wu, Jiawei & Wei, Yehua Dennis & Wang, Lei, 2018. "Policy change, amenity, and spatiotemporal dynamics of housing prices in Nanjing, China," Land Use Policy, Elsevier, vol. 75(C), pages 225-236.
    3. Enwei Zhu & Jing Wu & Hongyu Liu & Xindian Li, 2022. "Within‐City Spatial Distribution, Heterogeneity and Diffusion of House Price: Evidence from a Spatiotemporal Index for Beijing," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(3), pages 621-655, September.
    4. Renigier-Biłozor, Małgorzata & Janowski, Artur & Walacik, Marek & Chmielewska, Aneta, 2022. "Modern challenges of property market analysis- homogeneous areas determination," Land Use Policy, Elsevier, vol. 119(C).
    5. Monika Piazzesi & Martin Schneider & Johannes Stroebel, 2020. "Segmented Housing Search," American Economic Review, American Economic Association, vol. 110(3), pages 720-759, March.
    6. Mahdieh Yazdani & Maziar Raissi, 2023. "Real Estate Property Valuation using Self-Supervised Vision Transformers," Papers 2302.00117, arXiv.org.
    7. Marco Locurcio & Pierluigi Morano & Francesco Tajani & Felicia Di Liddo, 2020. "An Innovative GIS-Based Territorial Information Tool for the Evaluation of Corporate Properties: An Application to the Italian Context," Sustainability, MDPI, vol. 12(14), pages 1-29, July.
    8. Baltagi, Badi H. & Li, Jing, 2015. "Cointegration of matched home purchases and rental price indexes — Evidence from Singapore," Regional Science and Urban Economics, Elsevier, vol. 55(C), pages 80-88.
    9. Mahdieh Yazdani, 2021. "Machine Learning, Deep Learning, and Hedonic Methods for Real Estate Price Prediction," Papers 2110.07151, arXiv.org.
    10. Gjestland, Arnstein & McArthur, David Philip & Osland, Liv & Thorsen, Inge, 2014. "The suitability of hedonic models for cost-benefit analysis: Evidence from commuting flows," Transportation Research Part A: Policy and Practice, Elsevier, vol. 61(C), pages 136-151.
    11. Nishi, Hayato & Asami, Yasushi & Shimizu, Chihiro, 2021. "The illusion of a hedonic price function: Nonparametric interpretable segmentation for hedonic inference," Journal of Housing Economics, Elsevier, vol. 52(C).
    12. Lim, Hyunwoo & Yoo, Eun-Hye & Park, Minyoung, 2018. "Warehouse rental market segmentation using spatial profile regression," Journal of Transport Geography, Elsevier, vol. 73(C), pages 64-74.
    13. Wonseok Seo & LeeYoung Kim, 2020. "Investigating the Ripple Effect through the Relationship between Housing Markets and Residential Migration in Seoul, South Korea," Sustainability, MDPI, vol. 12(3), pages 1-22, February.
    14. Pierluigi Morano & Paolo Rosato & Francesco Tajani & Benedetto Manganelli & Felicia Di Liddo, 2019. "Contextualized Property Market Models vs. Generalized Mass Appraisals: An Innovative Approach," Sustainability, MDPI, vol. 11(18), pages 1-28, September.
    15. Michele Cascarano & Filippo Natoli, 2023. "Temperatures and search: evidence from the housing market," Temi di discussione (Economic working papers) 1419, Bank of Italy, Economic Research and International Relations Area.
    16. Arnstein Gjestland & David McArthur & Liv Osland & Inge Thorsen, 2011. "Alternative methods for quantifying commuting-related benefits of new transport infrastructure," ERSA conference papers ersa11p1223, European Regional Science Association.
    17. Wang, Jianing & Lee, Chyi Lin, 2022. "The value of air quality in housing markets: A comparative study of housing sale and rental markets in China," Energy Policy, Elsevier, vol. 160(C).
    18. Xiaoqi Zhang & Yanqiao Zheng & Lei Sun & Qiwen Dai, 2019. "Urban Structure, Subway Systemand Housing Price: Evidence from Beijing and Hangzhou, China," Sustainability, MDPI, vol. 11(3), pages 1-23, January.

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