How Much Does a Minute of Commuting Time Cost? An Examination of Property Prices in Relation to Distance to the City Center in Prague, Czech Republic

Lukavec, Martin; Kadeřábková, Božena

doi:10.14311/cej.2017.04.0044

Cited by 11 publications

(11 citation statements)

References 4 publications

(2 reference statements)

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“…The goal of the study has been to point out problems in reporting migration and to propose a strategy to analyze migration based on the multilevel research of migration while making this strategy applicable to internal migration. As data on migration represent a key input into a vast economic research, such as construction sector (Hromada et al 2021), labour market and economic performance studies (Čermáková et al 2019), transportation sector (Lukavec et al 2017), health sector (Neethu et al 2021 or Tamas 2021) regional economic performance and policies (Jašová et al 2017), and many others, motivation of this study was to provide an instrument to record the data on diverse levels of migration.…”

Section: Discussionmentioning

confidence: 99%

Multilevel research of migration with a focus on internal migration

Kureková¹

2021

IJOES

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In the research of migration, we can encounter the application of multidisciplinary approaches with the use of knowledge from existing theories, which implies the need for statistical reporting. It is not always easy to determine who a migrant is, and studies exploring migration can be dividing up according to many criteria. Contemporary literature contains a whole score of studies dealing with migration, its determinants and impacts on the economy, etc. However, there are very few studies dealing primarily with regional (i.e. internal) migration in comparison to the number of studies analyzing international migration. The goal of this study is to point out problems in reporting migration and to propose a strategy to analyze migration based on multilevel research of migration while making this strategy applicable to internal migration.

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Section: Discussionmentioning

confidence: 99%

Multilevel research of migration with a focus on internal migration

Kureková¹

2021

IJOES

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“…Both papers found a positive natural amenities premium on housing prices and used housing transactions, as a rare exception, from all over the country. Lukavec and Kadeřábková (2017) found a decreasing housing price gradient moving further from the centre of Prague, although only using a univariate regression approach that questions the reliability of their results.…”

Section: Introductionmentioning

confidence: 90%

Determinants of housing prices from an urban economic point of view: evidence from Hungary

Czinkán¹,

Horváth

2019

JERER

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Purpose The purpose of the paper is to investigate a cross section of Hungarian settlement-level unit housing prices with a special emphasis on measuring the effect of population and its growth, along with accessibility to the centre of an aggregated spatial unit such as a micro-region, county or region, for the period of 2001-2011. Design/methodology/approach The analysis uses cross-sectional ordinary least squares techniques with Moulton-corrected standard errors. The estimation is guided by the implications of a simplified monocentric urbanized area framework following the model of DiPasquale and Wheaton (1996), and the econometric model is augmented with population growth rate at the settlement level to bridge the theory explaining rents and data base containing prices instead. Findings The location is a key factor in determining housing prices: living 10 min further from the centre results in 11 per cent cheaper housing. When estimating bid-rent curves, results show that it is crucial to control for city size and the income effect. The elasticity of housing price with respect to city size is 0.09 according to our preferred model. Population growth has an asymmetric impact on housing prices: municipalities with positive expected population growth have higher prices today. Practical implications Estimating the quantitative relationship between commuting time and housing price is crucial for a cautious infrastructure development. The benefits of improved roads and faster access could be capitalized in appreciating the housing stock. Estimating the slope of the bid-rent curve is one possible ex ante quantification of the benefits of a public development. Originality/value One contribution of this research is providing empirical evidence to surprisingly limited applied work in the field of (monocentric) urban models using data from the CEE region. Second, to the best of the authors’ knowledge, this is the first study to investigate Hungarian settlement-level unit prices from an urban economic point of view.

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“…Every extra minute of the commute to the city center was found to have a negative impact on the price of an average apartment. (Lukavec and Kadeřábková, 2017)…”

Section: Literature Reviewmentioning

confidence: 99%

Technical condition of houses: a framework for the Czech market

Jandásková

Hrdlička

Cupal

et al. 2022

IJHMA

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Purpose This study aims to provide a framework for assessing the technical condition of a house to determine its market value, including the identification of other price-setting factors and their statistical significance. Time on market (TOM) in relation to the technical condition of a house is also addressed. Design/methodology/approach The primary database contains 631 houses, and the initial asking price and selling price are examined. All the houses are located in the Brno–venkov district in the Czech Republic. Regression analysis was used to test the influence of price-setting factors. The standard ordinary least squares estimator and the maximum likelihood estimator were used in the frame of generalized linear models. Findings Using envelope components of houses separately, such as the façade condition, windows, roof, condition of interior and year of construction, brings better results than using a single factor for the technical condition. TOM was found to be 67 days lower for houses intended for demolition – as compared to new houses – and 18 days lower for houses to refurbishment. Originality/value To the best of the authors’ knowledge, this paper is original in the substitution of specific price-setting factors for factors relating to the technical condition of houses as well as in proposing the framework for professionals in the Czech Republic.

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How Much Does a Minute of Commuting Time Cost? An Examination of Property Prices in Relation to Distance to the City Center in Prague, Czech Republic

Cited by 11 publications

References 4 publications

Multilevel research of migration with a focus on internal migration

Multilevel research of migration with a focus on internal migration

Determinants of housing prices from an urban economic point of view: evidence from Hungary

Technical condition of houses: a framework for the Czech market

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