A Nested Housing Market Structure: Additional Evidence

Abstract

This paper analyses the housing market and its structure in Málaga, a medium-size European city, which has become one of the main Spanish tourist destinations and thus one of the most active housing markets in Spain. This has led to coastal land being misused to the extent that it has almost been used up. First, the market as a whole is studied using the hedonic methodology. Then a method is presented which segments the market into sub-markets, following an ad hoc design based on two criteria: structural (vertical and horizontal dwellings) and location (proximity to the coast). The results show that this segmentation method is efficient, demonstrating implicit attribute prices as well as final house prices which are statistically different from each other, above all when dwellings are next to the coast and between those further away. Finally, some implications for urban policy are drawn.

Modelling property values in Nigeria using artificial neural network

“…Different attributes have been found to significantly affect property values. For instance the number of bedrooms (Ge & Du, 2007;Selim, 2008), the number of bathrooms and toilets (Zietz et al, 2008;Pozo, 2009), the property location (Ge & Du, 2007;Anim-Odame et al, 2009), the availability of public transport (Mbachu & Lenono, 2005;Choy et al, 2007), the property size (Choy et al, 2007;Sanjari, 2012) and the availability of security fence (Mbachu & Lenono, 2005), amongst other attributes, have a significant impact on property value.…”

How Does Respect for the Environment Affect Final Prices in the Hospitality Sector? A Hedonic Pricing Approach

“…This methodology is widely used in many fields of economics to analyze heterogeneous goods and services. 3 In particular, it has been extensively applied to the following fields: the housing market (García-Pozo 2009; Goodman and Thibodeau 2003; Mills and Simenauer 1996; Small and Steimetz 2012); the labor market (Flabbia and Maroc 2012; Goldhaber, Destler, and Player 2010); the incidence of various factors, often related to house pricing, and their impact on the environment (Boyle and Kiel 2001; Kuminoff, Parmeter, and Pope 2010; Nelson 2004); and finally, the tourism sector and its subsectors, which has attracted the interest of many researchers due to its diverse character (including accommodation, catering, passenger transport, travel agents, and leisure). Whereas hotel accommodation has been the type of tourist accommodation most widely analyzed, other types of accommodations, such as campsites, have also been studied using this methodology (García-Pozo, Sánchez-Ollero, and Marchante-Lara 2011).…”

A Methodological Proposal for the Analysis of Lighting the House Building Façades

“…The importance of luminosity is, therefore, one of the key climatic characteristics of a geographical area, especially in regions where the economy is based on climate tourism. There are numerous previous works that, from an econometric approach, include solar lighting as fundamental [2]; however, many of these studies were carried out in another socioeconomic context and without the current geographic information system (GIS) and building information modelling (BIM) tools. With these technological advances, it is possible to analyze in greater detail the incidence of direct sunlight, to compare buildings with similar characteristics and even the difference in luminosity between the different floors in tall buildings.…”