The Impact of Neighborhood Characteristics on Housing Prices-An Application of Hierarchical Linear Modeling
Housing data are of a nested nature as houses are nested in a village, a town, or a county. This study thus applies HLM (hierarchical linear modelling) in an empirical study by adding neighborhood characteristic variables into the model for consideration. Using the housing data of 31 neighborhoods in the Taipei area as analysis samples and three HLM sub-models, this study discusses the impact of neighborhood characteristics on house prices. The empirical results indicate that the impact of various neighborhood characteristics on average housing prices is different and that the impact of house characteristics on house prices is also moderated by neighborhood characteristics.
Volume (Year): 1 (2012)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: 22 Sin Ming Lane #06-76 Midview City Singapore 573969|
Web page: http://www.conscientiabeam.com/journal/11
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kiel, Katherine A. & Zabel, Jeffrey E., 2008.
"Location, location, location: The 3L Approach to house price determination,"
Journal of Housing Economics,
Elsevier, vol. 17(2), pages 175-190, June.
- Jeffrey Zabel & Katherine Kiel, 2004. "Location, Location, Location: The 3L Approach to House Price Determination," Working Papers 04-06, Center for Economic Studies, U.S. Census Bureau.
- Quigley, John M., 1985. "Consumer choice of dwelling, neighborhood and public services," Regional Science and Urban Economics, Elsevier, vol. 15(1), pages 41-63, February.
- Carlos Martins-Filho & Okmyung Bin, 2005.
"Estimation of hedonic price functions via additive nonparametric regression,"
Springer, vol. 30(1), pages 93-114, January.
- Okmyung Bin & Carlos Martins-Filho, "undated". "Estimation of Hedonic Price Functions via Additive Nonparametric Regression," Working Papers 0116, East Carolina University, Department of Economics.
- Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
- Clapp, John M. & Giaccotto, Carmelo, 1998. "Residential Hedonic Models: A Rational Expectations Approach to Age Effects," Journal of Urban Economics, Elsevier, vol. 44(3), pages 415-437, November.
When requesting a correction, please mention this item's handle: RePEc:pkp:ijomas:2012:p:31-44. 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: (Editorial Office)
If references are entirely missing, you can add them using this form.