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...

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...

Over the course of the recent house price bubble in the United States, the price of homes rose rapidly from 1999 Q4 to 2005 Q4 (11.3% annually as measured by the Case-Shiller index, and 8.4% annually as measured by the Federal Housing Financing Agency) but slowly as measured by owner equivalent...

We analyze the impacts of alternative submarket definitions when predicting house prices in a mass appraisal context, using both ordinary least squares (OLS) and geostatistical techniques. For this purpose, we use over 13,000 housing transactions for Louisville, Kentucky. We use districts...

Traditionally a young family, usually a married couple, purchases a starter home under a shared title, puts up a deposit and pays down the mortgage with a bank until it is owned outright. But skyrocketing house prices prevent many of them from taking this traditional route. In recent years, the...

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...

"Spatial thinking" is increasingly popular in housing market studies and spatial dependence across properties has been widely investigated in the intra-city housing market. The contribution of this paper is to study the spatial dependence and spillover effect of house prices from an interurban...

This paper estimates a spatio-temporal model of house price changes in England, allowing for heterogeneity in spatial effects between districts and the separation of the spatial dimension from the impact of common factors. We model house price growth from January 1995 to August 2016 across 325...

This paper models the correlated shocks across regional housing markets and the spillover effects in time-varying housing price volatilities. We explore two kinds of diffusion channels: geographic closeness and economic similarity. Our empirical investigation is based on the Case-Shiller housing...