The effect of distance from the city centre on selling price, tax assessment and gross income is investigated for income property in proximity to the city centre. Hedonic estimation with a multiplicative model specification is used to estimate the relationship between property characteristics on...

Purpose – The aim of this paper is to investigate whether buyers and sellers appears to take distance to the capital business district (CBD) into account in their valuation for acquisition or disposition. Design/methodology/approach – Under a mono‐centric model conceptualization,...

An appraisal by an accredited appraiser is often necessary before a proposed development can receive a commitment for financing from a financial institution. Such pre‐construction appraisals are often more difficult to complete than those where the subject property is already developed and...

Real estate market data often contain outliers in the observations. Since outliers have a large influence on least squares estimates, robust regression methods have been recommended for this situation. Compares the performance of least squares and least median of squares, a robust method, in the...