In October 2003, a new flight regime was introduced at Zurich airport that significantly changed the levels of noise pollution in surrounding communities. We investigate the impact of the new flight policy on apartment prices using a hedonic price model and a non-linear difference-in-differences...

In this paper we explore spatial effects in a hedonic price function framework for a large sample of apartments in Moscow. We find strong evidence of both spatial lag and spatial autocorrelation. Our results are robust across both the spatial model specifications and the choice of the spatial...

The influential work of Genesove and Mayer (2001) uses loss aversion theory to explain several puzzling behaviors in the housing market. In this study, we present an alternative theory, which does not require an asymmetric value function, to observe the same “loss aversion” behavior....

The main purpose of this study is to investigate whether there is a long-run relationship between macroeconomic indicators and property price index in Dubai. This paper uses the monthly data for the eight year period from January 2003 to December 2010. In order to identify long term equilibrium...

As an immobile, durable and heterogonous good, each housing unit has a bundle of different characteristics. Hedonic price method, which depends on the consumer theory of the classical economics, implies that each characteristic of heterogeneous goods provides a different level of satisfaction or...

We estimate a hedonic price function for the characteristics of housing units in Santiago, Chile, with the aim to capture unobserved utility-generating attributes for each unit. We used for this purpose two different semiparametric regression methods: a local linear kernel regression with a...

The rising concentration of low-income households and ethnic minorities has become an important policy issue in Germany. The Ruhr Area is particularly interesting, because it is one of the largest conurbations in Europe and experienced radical structural changes in the past, which are connected...

This study presents the detailed method of the MNB's house price index and the results of the new price indices. The index family is considered to be a novelty among Hungarian housing market statistics in several regards. Firstly, the national index was derived from a database starting in 1990,...

From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except one, raising concerns about an excessive over-heating of the housing market. To assess the vulnerability of the German housing market to a future realignment of prices or even a...

This paper analyzes the relative merits of large place- and tenant-based housing programs in Finland in terms of housing affordability and neighborhood quality. Using hedonic regression methods and household micro data, we find that rent savings to public housing tenants are less targeted...