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The North-South divide and house price islands: the case of Córdoba (Spain)

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Author Info
Pablo Brañas-Garza
Javier Rodero Cosano
John R. Presley

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Abstract

This paper uses the theory of hedonic prices for housing services. The classical approach in this field of urban economics is the monocentric model. The model is often criticized due to the restrictiveness of its assumptions. The most important hypothesis is that the rental value per unit of housing service declines with the distance from the central business district (CBD). We consider some other physical and geographical information in an econometric model for the estimation of house prices. The results indicate that the most significant variables are the physical attributes of the houses and the existence of North-South differences.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal European Journal of Housing Policy.

Volume (Year): 2 (2002)
Issue (Month): 1 (April)
Pages: 45-63
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Handle: RePEc:taf:eurjhp:v:2:y:2002:i:1:p:45-63

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Related research
Keywords: Housing Price; Distance Models; Externalities; North-SOUTH Effects; Hedonic Models;

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  19. Kanemoto, Yoshitsugu & Nakamura, Ryohei, 1986. "A new approach to the estimation of structural equations in hedonic models," Journal of Urban Economics, Elsevier, vol. 19(2), pages 218-233, March. [Downloadable!] (restricted)
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