The application of hedonic price approaches to obtain estimates of the households' value of apartment characteristics is invalid for regulated housing markets such as public housing. We introduce and apply an alternative method that allows us to estimate renters' marginal willingness to pay for...

The Basel II framework strictly defines the conditions under which financial institutions are authorized to accept real estate as collateral in order to decrease their credit risk. A widely used concept for its valuation is the hedonic approach. It assumes, that a property can be characterized...

This paper analyzes house price data belonging to three hierarchical levels of spatial units. House selling prices with associated individual attributes (the elementary level-1) are grouped within municipalities (level-2), which form districts (level-3), which are themselves nested in counties...