Purpose – This study aims to examine the impact of relative importance of local characteristics, distance from the city centre and unobservable spatial relation in explaining values of constant‐quality apartment units in Vienna. Design/methodology/approach – Drawing on recent developments...

Purpose The purpose of the article is to improve the understanding of the role of institutional factors in real estate development. The authors take into account zoning (existence and type), type of right of disposal and type of buyer and seller of property in a multivariate econometric...