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Understanding Local Housing Price Dynamics Through Buyer-Typology Segmentation

Author

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  • Carmelo Micciche
  • Michel Baroni

Abstract

This paper focuses on the geographical distribution of buyer typologies and their impact on housing price formation across France. Using an original and exhaustive dataset linking property transactions to detailed owner profiles, it proposes a novel approach by analyzing buyer characteristics — including real estate capital, age, and intended property use — and assessing their spatial patterns. A set of buyer-related indicators is constructed. Based on these indicators, a Kohonen clustering method is applied to segment the territory, successfully identifying typologically coherent and spatially consistent housing market areas. The analysis shows that the markets experiencing the strongest price increases are also those with a relatively high presence of multi-property owners. Further hedonic modeling confirms that buyer types have a measurable and significant impact on housing price formation, with multi-property owners having a positive effect on prices by paying more for comparable properties.

Suggested Citation

  • Carmelo Micciche & Michel Baroni, 2025. "Understanding Local Housing Price Dynamics Through Buyer-Typology Segmentation," ERES eres2025_303, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2025_303
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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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