Estimation of Apartment Submarkets
The analysis of apartment sub-markets and the modelling of such markets have attracted a considerable degree of attention recently. This study compares apartment submarkets within a major European city. The price behaviour of the Dublin, Ireland apartment market is tested using hedonic models and aggregate and disaggregate data. The results strongly indicate that the modelling of apartment markets at the disaggregate level does result in significant improvements in estimation in comparison to estimations undertaken at an aggregate level. This particular apartment market is especially interesting, due to the introduction of fiscal incentives in inner-city locations. In order to fully understand the Dublin apartment market requires an appreciation of the role played by tax breaks for owner-occupiers and investors in urban renewal locations. The results show that different submarkets responded differently. The central city apartment market [urban renewal locations] saw a short-term stabilization of prices in the months following the fiscal changes, with price increases accelerating again shortly afterwards.
Volume (Year): 25 (2003)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323|
Web page: http://www.aresnet.org/
|Order Information:|| Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323|
Web: http://pages.jh.edu/jrer/about/get.htm Email:
When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:25:n:2:2003:p:159-170. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster)
If references are entirely missing, you can add them using this form.