Advanced Search
MyIDEAS: Login to save this article or follow this journal

Architectural Design and the Value of Housing in Riga, Latvia

Contents:

Author Info

  • Steven Plaut

    ()
    (Graduate School of Business Administration, University of Haifa, Haifa 31905, Israe)

  • Egita Uzulena

    ()
    (Department of Economics, Central European University, Budapest 1050, Hungary)

Registered author(s):

    Abstract

    Architectural design has generally not been included in estimations of hedonic pricing models and the reason is no doubt the difficulty in capturing it in a usable measurement variable. It is usually too idiosyncratic and heterogeneous to “sum up” easily and introduce as an explanatory variable. However, in some housing markets, architectural design consists of a limited number of standardized “prototypes”, which can then be used as explanatory variables in hedonic estimations. Such is the case for Riga, Latvia, where almost the entire housing stock fits into about a score of fairly standardized architectural design types. This paper is an empirical analysis of the Riga housing market, which only became a “market” in a meaningful sense after the collapse of the Soviet regime in Latvia. The paper analyzes a set of about 3500 transactions, all from recent years. We estimate the elasticity of housing value with respect to size of housing units and some other physical features, and the value of the different architectural designs, controlling for location. This is one of the first hedonic or microeconomic analyses of housing values in any post-Soviet transitional economy.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.umac.mo/fba/irer/papers/past/Vol9_pdf/Plaut%20and%20Uzulena(112-131).pdf
    File Function: Full text
    Download Restriction: no

    Bibliographic Info

    Article provided by Asian Real Estate Society in its journal International Real Estate Review.

    Volume (Year): 9 (2006)
    Issue (Month): 1 ()
    Pages: 112-131

    as in new window
    Handle: RePEc:ire:issued:v:09:n:01:2006:p:112-131

    Contact details of provider:
    Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
    Email:
    Web page: http://www.asres.org/

    Order Information:
    Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
    Email:
    Web: http://www.asres.org/

    Related research

    Keywords: architecture; Hedonic models; transitional economies; Riga; pricing;

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Paolo Rosato & Lucia Rotaris & Margaretha Breil & Valentina Zanatta, 2008. "Do We Care about Built Cultural Heritage? The Empirical Evidence Based on the Veneto House Market," Working Papers 2008.64, Fondazione Eni Enrico Mattei.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ire:issued:v:09:n:01:2006:p:112-131. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (IRER Graduate Assistant/Webmaster).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.