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Empirical Modeling of the Relative Impacts of Various Sizes of Shopping Centers on the Values of Surrounding Residential Properties

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Author Info
R. Sirpal (Fellow School of Building and Estate Management National University of Singapore Singapore, 0511)
Abstract

This paper examines price differences of identical residential properties located around shopping centers of different sizes. Various models are tested for this purpose. The size of a shopping center is found to have a positive contributory effect on the values of surrounding residential properties as the variable "size of a shopping center" is found to be positive and significant in all models. The results indicate that the value of a residential property at a radial distance from the outer periphery of a larger shopping center is higher as compared to that of an otherwise identical residential property located at the same radial distance from the outer periphery of a smaller shopping center.

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File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol09n04/v09p487.pdf
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Publisher Info
Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

Volume (Year): 9 (1994)
Issue (Month): 4 ()
Pages: 487-506
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Handle: RePEc:jre:issued:v:9:n:4:1994:p:487-506

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L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb.. [Downloadable!] (restricted)
  2. J F Kain & J M Quigley, 1970. "Evaluating the quality of the residential environment," Environment and Planning A, Pion Ltd, London, vol. 2(1), pages 23-32, January. [Downloadable!] (restricted)
  3. Richardson, Harry W., 1977. "On the possibility of positive rent gradients," Journal of Urban Economics, Elsevier, vol. 4(1), pages 60-68, January. [Downloadable!] (restricted)
  4. David Dale-Johnson & G. Michael Phillips, 1984. "Housing Attributes Associated with Capital Gain," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 12(2), pages 162-175. [Downloadable!] (restricted)
  5. Jonathan H. Mark, 1983. "An Empirical Examination of the Stability of Housing Price Equations Over Time," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 11(3), pages 397-415. [Downloadable!] (restricted)
  6. Grieson, Ronald E. & White, James R., 1989. "The existence and capitalization of neighborhood externalities: A reassessment," Journal of Urban Economics, Elsevier, vol. 25(1), pages 68-76, January. [Downloadable!] (restricted)
  7. Charles J. Delaney & Douglas Timmons, 1992. "High Voltage Power Lines: Do They Affect Residential Property Value?," Journal of Real Estate Research, American Real Estate Society, vol. 7(3), pages 315-330. [Downloadable!]
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. George H. Lentz & Ko Wang, 1998. "Residential Appraisal and the Lending Process: A Survey of Issues," Journal of Real Estate Research, American Real Estate Society, vol. 15(1), pages 11-40. [Downloadable!]
  2. Su Han Chan & Shin-Hering Michelle Chu & George H. Lentz & Ko Wang, 1998. "Intra-Project Externality and Layout Variables in Residential Condominium Appraisals," Journal of Real Estate Research, American Real Estate Society, vol. 15(2), pages 131-146. [Downloadable!]
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