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A Hedonic Urban Land Price Index

Author

Listed:
  • Brano Glumac
  • Marcos Herrera-Gomez
  • Julien Licheron

Abstract

Our objective is to collect a set of variables able to account for the effects of a multitude of land quality factors. In addition, surrounding plots and the natural and built environment might also influence urban land prices. However, most house price and land price indices do not control for any potentially related spatial effects. The urban land price index detailed here is based on land transaction prices for Luxembourg between 2010 and 2014 recorded in notarial deeds and cadastral data, together with geo-spatial characteristics. The proposed index includes many aspects in an initial hedonic and spatial model specification.

Suggested Citation

  • Brano Glumac & Marcos Herrera-Gomez & Julien Licheron, 2018. "A Hedonic Urban Land Price Index," ERES eres2018_149, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2018_149
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2018-149
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    Cited by:

    1. Hengstermann, Andreas & McElduff, Linda & Ritchie, Heather, 2025. "Capturing or compensating? Comparing legitimacies, legitimations and rationales of added value capture instruments," Land Use Policy, Elsevier, vol. 150(C).
    2. Zengzheng Wang & Fuhao Zhang & Yangyang Zhao, 2023. "Exploring the Spatial Discrete Heterogeneity of Housing Prices in Beijing, China, Based on Regionally Geographically Weighted Regression Affected by Education," Land, MDPI, vol. 12(1), pages 1-24, January.
    3. Song, Malin & Xie, Qianjiao & Chen, Jiandong, 2022. "Effects of government competition on land prices under opening up conditions: A case study of the Huaihe River ecological economic belt," Land Use Policy, Elsevier, vol. 113(C).
    4. Emilio Ramírez-Juidías & José-Lázaro Amaro-Mellado & Jorge Luis Leiva-Piedra, 2022. "Influence of the Urban Green Spaces of Seville (Spain) on Housing Prices through the Hedonic Assessment Methodology and Geospatial Analysis," Sustainability, MDPI, vol. 14(24), pages 1-15, December.
    5. Can Li & Yu Meng & Yingkui Li & Jingfeng Ge & Chaoran Zhao, 2019. "Inter-Metropolitan Land-Price Characteristics and Patterns in the Beijing-Tianjin-Hebei Urban Agglomeration in China," Sustainability, MDPI, vol. 11(17), pages 1-29, August.
    6. Marija Opačak & Erda Wang, 2019. "Estimating Willingness to Pay for a Future Recreational Park Atop the Current Jakuševec Landfill in Zagreb, Croatia," Sustainability, MDPI, vol. 11(21), pages 1-16, October.
    7. Codosero Rodas, José Maria & Castanho, Rui Alexandre & Cabezas Fernández, José & Naranjo Gómez, José Manuel, 2020. "Sustainable valuation of land for development. Adding value with urban planning progress. A Spanish case study," Land Use Policy, Elsevier, vol. 92(C).
    8. Tezcan, Ahmet & Büyüktaş, Kenan & Akkaya Aslan, Şerife Tülin, 2020. "A multi-criteria model for land valuation in the land consolidation," Land Use Policy, Elsevier, vol. 95(C).
    9. Zhiheng Yang & Chenxi Li & Yongheng Fang, 2020. "Driving Factors of the Industrial Land Transfer Price Based on a Geographically Weighted Regression Model: Evidence from a Rural Land System Reform Pilot in China," Land, MDPI, vol. 9(1), pages 1-21, January.
    10. Shahchergh, Fazel & Maleki, Jamshid & Nadi, Saeed & Shojaei, Davood, 2025. "Property view assessment by integrating BIM and 3D GIS: A quantitative methodology," Land Use Policy, Elsevier, vol. 156(C).
    11. Asad Aziz & Muhammad Mushahid Anwar & Hazem Ghassan Abdo & Hussein Almohamad & Ahmed Abdullah Al Dughairi & Motrih Al-Mutiry, 2023. "Proximity to Neighborhood Services and Property Values in Urban Area: An Evaluation through the Hedonic Pricing Model," Land, MDPI, vol. 12(4), pages 1-12, April.
    12. Xuan Liu & Chunwu Zhu & Minghui Kong & Lirong Yin & Wenfeng Zheng, 2024. "The Value of Political Connections of Developers in Residential Land Leasing: Case of Chengdu, China," SAGE Open, , vol. 14(2), pages 21582440241, April.
    13. François Koulischer & Pauline Perray & Thi Thu Huyen Tran, 2022. "COVID-19 and the Mortgage Market in Luxembourg," JRFM, MDPI, vol. 15(3), pages 1-24, March.
    14. Renan Almeida & Marcelo Brandão & Ramon Torres & Pedro Patrício & Pedro Amaral, 2021. "An assessment of the impacts of large‐scale urban projects on land values: The case of Belo Horizonte, Brazil," Papers in Regional Science, Wiley Blackwell, vol. 100(2), pages 517-559, April.
    15. Mengmeng Tang & Cuiting Wang & Chunyang Ying & Shuai Mei & Tong Tong & Youhua Ma & Qiang Wang, 2023. "Research on Cultivated Land Quality Restriction Factors Based on Cultivated Land Quality Level Evaluation," Sustainability, MDPI, vol. 15(9), pages 1-12, May.
    16. Mehari, Ashenafi & Genovese, Paolo Vincenzo, 2025. "Spatial rationalization of location value and use conversion cost in multiobjective land use optimization: Coupling hedonics pricing model and genetic algorithm," Land Use Policy, Elsevier, vol. 157(C).
    17. Kazak Jan K. & Simeunović Nataša & Hendricks Andreas, 2019. "Hidden Public Value Identification of Real Estate Management Decisions," Real Estate Management and Valuation, Sciendo, vol. 27(4), pages 96-104, December.
    18. Fang Wei & Lvwang Zhao, 2022. "The Effect of Flood Risk on Residential Land Prices," Land, MDPI, vol. 11(10), pages 1-18, September.
    19. H.G. Gebrihet & P. Pillay, 2020. "Determinants of Urban Land Lease Market in an Emerging Economy: Empirical Evidence from Ethiopia," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 450-470.
    20. Tsai, I-Chun & Wang, Wen-Kai, 2022. "The value of land redevelopment in different types of properties: Considering the effect of hold-out problems on the development probability," Land Use Policy, Elsevier, vol. 119(C).

    More about this item

    Keywords

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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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