This paper compares the impacts of alternative models of spatial dependence on the accuracy of house price predictions in a mass appraisal context. Explicit modeling of spatial dependence is characterized as a more fluid approach to defining housing submarkets. This approach allows the relevant...

OLS regression has typically been used in housing research to determine the relationship of a particular housing characteristic with selling price. Results differ across studies, not only in terms of size of OLS coefficients and statistical significance, but sometimes in direction of effect....

Using a unique transaction database of condominiums in the Tokyo metropolitan area and a hedonic analytical framework, we find that eco-labelled buildings command a small but significant premium on both the asking and transaction prices. This finding is consistent with results from other...

We compare property price effects from pluvial, fluvial, and groundwater flooding in the urban area of Cologne, Germany. We focus on pluvial flooding as it is becoming increasingly important to urban areas and research on its impact on housing prices is scarce. Using a spatial Durbin model and a...

We study the effect that changes of commuting costs to intra urban employment centers may have on property prices in Bogotá, Colombia. To explore the relationship between prices and communing costs, we use a difference in difference spatial model. Parametric and non-parametric estimations...

While an understanding of spatial spillovers and feedbacks in housing markets could provide valuable information for location decisions, little known research has examined this issue for the US Metropolitan Statistical Areas (MSAs). Also, it is unknown whether there can be differences in the...

While aggregate house price indices display time persistence, less is known about micro persistence. This article proposes that absence of micro persistence implies that an excessively high or low sell price in one transaction is not repeated in the next transaction. We exploit a unique...

Structured additive regression (STAR) models are a rich class of regression models that include the generalized linear model (GLM) and the generalized additive model (GAM). STAR models can be fitted by Bayesian approaches, component-wise gradient boosting, penalized least-squares, and deep...

In this paper the affect of age on the price of residential property is investigated. A significant premium is observed in the price of newly constructed property. A regression analysis indicates that new houses (units) sell at a premium, relative to an otherwise identical property, of 11% (19%)...