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Land Use, Economic Welfare and Property Values: An Analysis of the Interdependencies of the Real-Estate Market with Zonal and Socio-Economic Variables in the Municipalities of Apulia Region (Italy)

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  • Pierluigi Morano

    (Department of Science of Civil Engineering and Architecture, Politecnico di Bari, Bari, Italy)

  • Francesco Tajani

    (Department of Science of Civil Engineering and Architecture, Politecnico di Bari, Bari, Italy)

  • Marco Locurcio

    (Department of Architecture and Design, Sapienza University of Rome, Rome, Italy)

Abstract

In the paper an analysis of functional correlations of property prices with the main locational and socio-economic variables, which generally contribute to define the market value of properties, has been developed. Locational characteristics are represented by the surfaces of soil used for the main functions, borrowing the logic of the system of classification of CORINE Land Cover (European Commission). The analysis has been contextualized to the 258 municipalities of the Apulia region (Southern Italy), and has been referred to two different moments (years 2006 and 2011), and two different market segments (residential and retail). The functional relationships between property prices and explanatory variables considered, estimated through a software that implements a genetic algorithm, are particularly interesting. The methodology outlined constitutes a valuable reference for the definition of models aimed at supporting, in a more rational and convenient way, public planning decisions and private investment choices.

Suggested Citation

  • Pierluigi Morano & Francesco Tajani & Marco Locurcio, 2015. "Land Use, Economic Welfare and Property Values: An Analysis of the Interdependencies of the Real-Estate Market with Zonal and Socio-Economic Variables in the Municipalities of Apulia Region (Italy)," International Journal of Agricultural and Environmental Information Systems (IJAEIS), IGI Global, vol. 6(4), pages 16-39, October.
    • Handle: RePEc:igg:jaeis0:v:6:y:2015:i:4:p:16-39
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    Citations

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    Cited by:

    1. Jianyun Hou & Xuexi Huo & Runsheng Yin, 2017. "Land Rental Market Participation and Its Impact on Fixed Investment and Household Welfare: Evidence from Chinese Apple Production Sites," Sustainability, MDPI, vol. 9(11), pages 1-15, October.
    2. Katarzyna Kopczewska & Mateusz Kopyt & Piotr Ćwiakowski, 2021. "Spatial Interactions in Business and Housing Location Models," Land, MDPI, vol. 10(12), pages 1-25, December.
    3. 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.
    4. Francesco Tajani & Pierluigi Morano & Maria Paz Saez-Perez & Felicia Di Liddo & Marco Locurcio, 2019. "Multivariate Dynamic Analysis and Forecasting Models of Future Property Bubbles: Empirical Applications to the Housing Markets of Spanish Metropolitan Cities," Sustainability, MDPI, vol. 11(13), pages 1-21, June.
    5. Carmelo M. Torre & Pierluigi Morano & Francesco Tajani, 2017. "Saving Soil for Sustainable Land Use," Sustainability, MDPI, vol. 9(3), pages 1-32, February.
    6. Couto, Gualter & Martins, Dulce & Pimentel, Pedro & Castanho, Rui Alexandre, 2021. "Investments on urban land valuation by real options – The Portuguese case," Land Use Policy, Elsevier, vol. 107(C).
    7. Edward Preweda & Elżbieta Jasińska, 2020. "Organization of the Building Space of Developments and Its Impact on Residential Housing Prices," Sustainability, MDPI, vol. 12(18), pages 1-19, September.
    8. 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.

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