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Disaggregation of Local Apartment Markets by Unit Type

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Author Info
Wolverton, Marvin L
Hardin, William G, III
Cheng, Ping
Abstract

Recent market segmentation research has begun to delve into the issue of whether traditional property-type categories are sufficiently homogeneous to be modeled as aggregate real estate markets. This article extends the research on rental-property market segmentation by investigating the existence of apartment submarkets determined by unit type. The study finds that one-bedroom, one-bath units; two-bedroom, one-bath units; and two-bedroom, two-bath units function as distinct submarkets differentiated by property features, neighborhood location, and temporal changes in market rent. Copyright 1999 by Kluwer Academic Publishers

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Publisher Info
Article provided by Springer in its journal Journal of Real Estate Finance & Economics.

Volume (Year): 19 (1999)
Issue (Month): 3 (November)
Pages: 243-57
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:jrefec:v:19:y:1999:i:3:p:243-57

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Web page: http://www.springerlink.com/link.asp?id=102945

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  1. William G. Hardin III & Jon Carr, 2006. "Disaggregating Neighborhood and Community Center Property Types," Journal of Real Estate Research, American Real Estate Society, vol. 28(2), pages 167-192. [Downloadable!]
  2. Barrett A. Slade, 2000. "Office Rent Determinants during Market Decline and Recovery," Journal of Real Estate Research, American Real Estate Society, vol. 20(3), pages 357-380. [Downloadable!]
  3. Gary C. Cornia & Barrett A. Slade, 2005. "Property Taxation of Multifamily Housing: An Empirical Analysis of Vertical and Horizontal Equity and Assessment Methods," Journal of Real Estate Research, American Real Estate Society, vol. 27(1), pages 17-46. [Downloadable!]
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