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House price determinants in Athens: a spatial econometric approach

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  • Marianthi Stamou
  • Angelos Mimis
  • Antonis Rovolis

Abstract

In this paper, we try to identify the price determinants in the biggest real estate market of Greece, the metropolitan area of Athens. For that purpose, various spatial econometric models are used to explore their prediction ability and we are displaying the variations in property prices for the wider area of Athens. These models have been compared based on different criteria such as model fit, the Akaike information criterion and variance of the residuals. Our results indicate that, in our case, the spatial general model is the most appropriate simultaneous autoregressive model when dealing with spatially autocorrelated prices of housing properties data, in terms of our selection criteria.

Suggested Citation

  • Marianthi Stamou & Angelos Mimis & Antonis Rovolis, 2017. "House price determinants in Athens: a spatial econometric approach," Journal of Property Research, Taylor & Francis Journals, vol. 34(4), pages 269-284, October.
    • Handle: RePEc:taf:jpropr:v:34:y:2017:i:4:p:269-284
    DOI: 10.1080/09599916.2017.1400575
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    1. Manfred M. Fischer & Jinfeng Wang, 2011. "Spatial Data Analysis," SpringerBriefs in Regional Science, Springer, number 978-3-642-21720-3, March.
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    1. Polixeni Iliopoulou & Elissavet Feloni, 2022. "Spatial Modelling and Geovisualization of House Prices in the Greater Athens Region, Greece," Geographies, MDPI, vol. 2(1), pages 1-21, February.
    2. Wilmar Alexander Cabrera-Rodríguez & Juan Sebastián Mariño-Montaña & Carlos Andrés Quicazán-Moreno, 2019. "Modelos hedónicos con efectos espaciales: una aproximación al cálculo de índices de precios de vivienda para Bogotá," Borradores de Economia 1072, Banco de la Republica de Colombia.
    3. Nana Cui & Hengyu Gu & Tiyan Shen & Changchun Feng, 2018. "The Impact of Micro-Level Influencing Factors on Home Value: A Housing Price-Rent Comparison," Sustainability, MDPI, vol. 10(12), pages 1-23, November.

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