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A Spatial And Temporal Autoregressive Local Estimation For The Paris Housing Market

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  • Ingrid Nappi‐Choulet
  • Tristan‐Pierre Maury

Abstract

This original study examines the potential of a spatiotemporal autoregressive Local (LSTAR) approach in modelling transaction prices for the housing market in inner Paris. We use a data set from the Paris Region notary office (“Chambre des notaires d’Île-de-France”) which consists of approximately 250,000 transactions units between the first quarter of 1990 and the end of 2005. We use the exact X -- Y coordinates and transaction date to spatially and temporally sort each transaction. We first choose to use the spatiotemporal autoregressive (STAR) approach proposed by Pace, Barry, Clapp and Rodriguez (1998). This method incorporates a spatiotemporal filtering process into the conventional hedonic function and attempts to correct for spatial and temporal correlative effects. We find significant estimates of spatial dependence effects. Moreover, using an original methodology, we find evidence of a strong presence of both spatial and temporal heterogeneity in the model. It suggests that spatial and temporal drifts in households socio-economic profiles and local housing market structure effects are certainly major determinants of the price level for the Paris Housing Market.
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Suggested Citation

  • Ingrid Nappi‐Choulet & Tristan‐Pierre Maury, 2011. "A Spatial And Temporal Autoregressive Local Estimation For The Paris Housing Market," Journal of Regional Science, Wiley Blackwell, vol. 51(4), pages 732-750, October.
    • Handle: RePEc:bla:jregsc:v:51:y:2011:i:4:p:732-750
    DOI: j.1467-9787.2011.00713.x
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    Cited by:

    1. Jean Dubé & Diègo Legros, 2013. "Dealing with spatial data pooled over time in statistical models," Letters in Spatial and Resource Sciences, Springer, vol. 6(1), pages 1-18, March.
    2. Thanos, Sotirios & Dubé, Jean & Legros, Diègo, 2016. "Putting time into space: the temporal coherence of spatial applications in the housing market," Regional Science and Urban Economics, Elsevier, vol. 58(C), pages 78-88.
    3. Aaron Swoboda & Tsegaye Nega & Maxwell Timm, 2015. "Hedonic Analysis Over Time And Space: The Case Of House Prices And Traffic Noise," Journal of Regional Science, Wiley Blackwell, vol. 55(4), pages 644-670, September.
    4. repec:ers:journl:v:xxiv:y:2021:i:2b:p:810-834 is not listed on IDEAS
    5. Sören Gröbel, 2018. "Regional heterogeneity in age-related housing depreciation rates [Regionale Heterogenität altersbedingter Wertminderungen von Wohnimmobilien]," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 38(2), pages 219-254, October.
    6. Richard T. Baillie & Kun Ho Kim, 2015. "Local Deviations from Uncovered Interest Parity: The Role of Macroeconomic Fundamentals," Working Paper series 15-43, Rimini Centre for Economic Analysis.
    7. Mark J. Holmes & Jesús Otero & Theodore Panagiotidis, 2017. "A Pair-wise Analysis of Intra-city Price Convergence Within the Paris Housing Market," The Journal of Real Estate Finance and Economics, Springer, vol. 54(1), pages 1-16, January.
    8. Monica Palma & Claudia Cappello & Sandra De Iaco & Daniela Pellegrino, 2019. "The residential real estate market in Italy: a spatio-temporal analysis," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(5), pages 2451-2472, September.
    9. Benchimol, Jonathan & Fourçans, André, 2009. "Money in a DSGE framework with an application to the Euro Zone," ESSEC Working Papers DR 09005, ESSEC Research Center, ESSEC Business School.
    10. Sotirios Thanos & Abigail L. Bristow & Mark R. Wardman, 2015. "Residential Sorting And Environmental Externalities: The Case Of Nonlinearities And Stigma In Aviation Noise Values," Journal of Regional Science, Wiley Blackwell, vol. 55(3), pages 468-490, June.

    More about this item

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

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