Single-family houses are typically the most important component in their owners’ portfolios. Buying a home is a major financial transaction for most households. Yet, unlike assets traded in financial markets, getting a quote for the current market value of a house is not an easy task because...

The “Great Recession” has painfully demonstrated the impact of real estate prices on real economic activity. Hence, close examination of real estate price changes is important for business cycle analysis and economic policy. However, most real estate price indices for Germany either exhibit...

In this study we estimate the demand for peace and quiet, and thus also the willingness to pay for railway noise abatement, based on both steps of the hedonic model regression on property prices. The estimated demand relationship suggests welfare gains for a 1 dB reduction of railway noise as;...

Standard measures of consumer price inflation are based on a bundle of representative goods. It is well known that this approach might overstate inflation for new products and products with fast increasing quality. For this reason, hedonic adjustment methods have been proposed and introduced in...

Market value predictions for residential properties are important for investment decisions and the risk management of households, banks, and real estate developers. The increased access to market data has spurred the development and application of Automated Valuation Models (AVMs), which can...

In this study we estimate the demand for peace and quiet, and thus also the willingness to pay for railway noise abatement, based on both steps of the hedonic model regression on property prices. The estimated demand relationship suggests welfare gains for a 1 dB reduction of railway noise as;...

Supply subsidies to owners of rental housing construction are typically aimed at increasing the overall size of the housing stock or at guaranteeing affordable housing for low-income households. This paper studies whether and how much the tenants of social housing units benefit from this...

Brownfields are properties whose redevelopment is hampered by known or suspected contamination and by concerns about associated liability. Because failing to redevelop brownfields may negatively affect welfare and the environment, a number of states have created voluntary programs to reduce...

In the study we examine the impact of the Las Wolski forest in Krakow (Poland) on undeveloped land values using the hedonic regression method, using OLS (ordinary least squares), SAR (Spatial Autoregressive Model) and SEM (spatial error model).