Hedonic price model for Warsaw housing market
A hedonic price model has been constructed for Warsaw housing market using 2006 asking price data. Model parameters reveal a substantial influence of proximity to the metro station on flat prices. If there is a metro station within 1 km distance to a flat its price increases by 15% according to the estimated basic hedonic model. Also green areas have a positive impact on flat prices while industrial areas affect negatively flat prices. To account for spatial autocorrelation two types of spatial hedonic model were constructed: spatial autoregression model and spatial error model. Both proved that there is a significant spatial autocorrelation present in the basic hedonic model.
|Date of creation:||30 Dec 2009|
|Contact details of provider:|| Postal: 02-513 Warszawa, ul. Madalinskiego 6/8|
Phone: + (48)(22) 49 12 51
Fax: + (48)(22) 49 53 12
Web page: http://www.sgh.waw.pl/instytuty/zes
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- McMillen, Daniel P., 2004. "Airport expansions and property values: the case of Chicago O'Hare Airport," Journal of Urban Economics, Elsevier, vol. 55(3), pages 627-640, May.
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CWP06/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
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Departmental Working Papers
2003-02, Department of Economics, Louisiana State University.
- Brasington, David M. & Hite, Diane, 2005. "Demand for environmental quality: a spatial hedonic analysis," Regional Science and Urban Economics, Elsevier, vol. 35(1), pages 57-82, January.
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