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Determinanten von Wohnimmobilienpreisen: Das Beispiel der Stadt Münster

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  • Martin Bohl

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  • Winfried Michels
  • Jens Oelgemöller

Abstract

In the present article determinants of residential real estate prices are empirically estimated. The study is based on actually recorded, anonymous transactions data collected for the city of Muenster from 1999 to 2009. The observations include single-family houses, semi-detached houses, end-terrace houses, terrace houses and condominiums. The regressions do have high explanatory power and the estimated parameters are economically plausible. As expected, besides location criteria (quality of residential area, centrality) aspects of size (living space, plot size) and age are important determining factors to explain house-prices. Copyright Springer-Verlag 2012

Suggested Citation

  • Martin Bohl & Winfried Michels & Jens Oelgemöller, 2012. "Determinanten von Wohnimmobilienpreisen: Das Beispiel der Stadt Münster," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 32(2), pages 193-208, September.
  • Handle: RePEc:spr:jahrfr:v:32:y:2012:i:2:p:193-208
    DOI: 10.1007/s10037-012-0068-z
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    References listed on IDEAS

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    1. Demary, Markus, 2009. "Hedonische Immobilienpreisindizes: Verfahren und Beispiele," IW-Trends – Vierteljahresschrift zur empirischen Wirtschaftsforschung, Institut der deutschen Wirtschaft (IW) / German Economic Institute, vol. 36(3), pages 91-104.
    2. Sue, Eddie D.W. & Wong, Wei-Kang, 2010. "The political economy of housing prices: Hedonic pricing with regression discontinuity," Journal of Housing Economics, Elsevier, vol. 19(2), pages 133-144, June.
    3. 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..
    4. Goodman, Allen C. & Thibodeau, Thomas G., 2003. "Housing market segmentation and hedonic prediction accuracy," Journal of Housing Economics, Elsevier, vol. 12(3), pages 181-201, September.
    5. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132-132.
    6. Eurostat, 2013. "Handbook on Residential Property Prices Indices," World Bank Publications, The World Bank, number 17280.
    7. Cameron,A. Colin & Trivedi,Pravin K., 2005. "Microeconometrics," Cambridge Books, Cambridge University Press, number 9780521848053.
    8. White, Halbert, 1982. "Maximum Likelihood Estimation of Misspecified Models," Econometrica, Econometric Society, vol. 50(1), pages 1-25, January.
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    Cited by:

    1. repec:gam:jsusta:v:11:y:2019:i:2:p:437-:d:198033 is not listed on IDEAS
    2. Mense, Andreas & Wirth, Benjamin, 2014. "Flat Prices, Cell Phone Base Stations, and Network Structure: An Instrumental Variable Approach to Endogenous Locations," Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100618, Verein für Socialpolitik / German Economic Association.

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