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The role of space in urban housing market


  • Joao Marques
  • Eduardo Castro


  • Arnab Bhattacharjee


This presentation emphasizes the quantitative analysis of space in relation to hedonic housing price models. Three aspects of space will be highlighted: i) spatial heterogeneity (spatial patterns): hedonic housing amenities may be valued differently in different locations which are related to specific housing sub-markets; ii) spatial dependence (spillovers): the degree by which price increases (or decreases) in a given sub-market is influenced by other sub-markets, or by another property within the same sub-market. iii) spatial scale: the study of heterogeneity and spillovers crucially depends on the level of geographical scale at which submarkets are defined. In the literature the difficulty of defining sub-markets and understanding the relationship between them is broadly identified, and appropriate methods for defining housing markets are also presented. However, there is not a consensus on which methodologies should be used. As a contribution to understand spatial structure (heterogeneity and spillovers) in urban spaces some empirical results will be presented. A new methodology to analyse spatial spillovers [rather than an ex ante definition of a spatial weight matrix (W)] will be developed. This procedure based on non-parametric approach will be applied to a rich database. An interesting outcome of this methodology is possibility of finding meaningful values of negative interaction.

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  • Joao Marques & Eduardo Castro & Arnab Bhattacharjee, 2011. "The role of space in urban housing market," ERSA conference papers ersa11p1420, European Regional Science Association.
  • Handle: RePEc:wiw:wiwrsa:ersa11p1420

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    References listed on IDEAS

    1. Constantin, Daniela Luminita, 1999. "Regional Competition in Romania: Determinants and Policies," ERSA conference papers ersa99pa399, European Regional Science Association.
    2. Shiuh-Shen Chien & Ian Gordon, 2008. "Territorial Competition in China and the West," Regional Studies, Taylor & Francis Journals, vol. 42(1), pages 31-49.
    3. Jonathan Potter, 2009. "Evaluating Regional Competitiveness Policies: Insights from the New Economic Geography," Regional Studies, Taylor & Francis Journals, vol. 43(9), pages 1225-1236.
    4. Shiuh-Shen Chien, 2008. "Local Responses To Globalization In China: A Territorial Restructuring Process Perspective," Pacific Economic Review, Wiley Blackwell, vol. 13(4), pages 492-517, October.
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