Geographic Heterogeneity in Housing. Evidence from Spain
This article offers an empirical analysis of geographical differences in the characteristics of housing in the different provinces of Spain. The study employs multiple correspondence analysis to derive a housing index, in line with ArÈvalo (1999). While ArÈvalo used only structural variables, this research also includes proxy variables for access to services derived from the location of the living unit. A readily interpretable index is thus created, which measures the level of internal and external services that a living unit (house or apartment) provides for its occupiers. The results confirm that characteristics derived from location are complementary to structural characteristics of the living unit itself (housing services). Moreover, with the addition of location variables, the new housing index shows: (i) increased correlation with observed rental and house prices, and (ii) a more realistic view of geographical differences in the level of services of Spanish housing. The study contributes new housing indicators that are easily applicable, for example, in studies on household quality of life, social exclusion, and poverty.
References listed on IDEAS
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.:
- Raquel Arévalo-Tomé, 1999. "Construcción de un índice de calidad de la vivienda," Investigaciones Economicas, Fundación SEPI, vol. 23(2), pages 267-280, May.
- Michael Greenacre, 2008. "Correspondence analysis of raw data," Economics Working Papers 1112, Department of Economics and Business, Universitat Pompeu Fabra, revised Jul 2009.
- Michel Tenenhaus & Forrest Young, 1985. "An analysis and synthesis of multiple correspondence analysis, optimal scaling, dual scaling, homogeneity analysis and other methods for quantifying categorical multivariate data," Psychometrika, Springer;The Psychometric Society, vol. 50(1), pages 91-119, March.
- W. Erwin Diewert, 2003. "Hedonic Regressions. A Consumer Theory Approach," NBER Chapters, in: Scanner Data and Price Indexes, pages 317-348 National Bureau of Economic Research, Inc.
- 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..
- Hubert, Franz, 1995. "Contracting with costly tenants," Regional Science and Urban Economics, Elsevier, vol. 25(5), pages 631-654, October.
- W. E. Diewert & Mick Silver & Saeed Heravi, 2007. "Hedonic Imputation versus Time Dummy Hedonic Indexes," IMF Working Papers 07/234, International Monetary Fund.
- Saeed Heravi & Mick Silver, 2006. "The Difference Between Hedonic Imputation Indexes and Time Dummy Hedonic Indexes," IMF Working Papers 06/181, International Monetary Fund.
- repec:eme:jespps:v:24:y:1997:i:1/2:p:95-119 is not listed on IDEAS
- Ruiz-Castillo, Javier & Arévalo, Raquel, 2004. "The rental equivalence approach to nonrental housing in the consumer price index. evidence from Spain," UC3M Working papers. Economics we041704, Universidad Carlos III de Madrid. Departamento de Economía.
- Marvin L. Wolverton & Jimmy Senteza, 2000. "Hedonic Estimates of Regional Constant Quality House Prices," Journal of Real Estate Research, American Real Estate Society, vol. 19(3), pages 235-253.
When requesting a correction, please mention this item's handle: RePEc:fda:fdaeee:203. 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: (Carmen Arias)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.