The effect of young, single person households on apartment prices: an instrument variable approach

Tyvimaa, Tanja; Kamruzzaman, Md.

doi:10.1007/s10901-018-9618-1

Cited by 14 publications

(11 citation statements)

References 37 publications

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“…13 The growing attention to this linkage is mainly due to the expansion of both single-person households and an ageing population, and their profound impacts on residential energy consumption and its intensity. [14][15][16] The expansion of single-person households is likely to increase energy consumption (e.g., Fawcett et al, 17 ICPEN, 18 Williams 19 ) and an ageing population affects residential energy intensity since different age groups have different behavioral resource-use patterns (e.g., Bardazzi and Pazienza, 20 Ota et al, 21 Romanach et al, 22 Estiri and Zagheni 23 ). Although those studies have addressed the expansion of single-person households and an ageing population separately and these demographic factors overlap in their effects, they have not been explicitly integrated into one modeling framework to explain their impacts on residential energy consumption.…”

Section: Introductionmentioning

confidence: 99%

Impact of the rise of solo living and an ageing population on residential energy consumption in South Korea

Cho

Soh

Park

et al. 2021

Energy & Environment

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Demographic changes have a profound impact on residential energy consumption. The number of single-person households is rapidly increasing around the world and the percentages of elderly individuals in the populations of almost all countries are expanding. The objective of our research was to analyze how single-person households and elderly households impact residential energy intensity, defined as annual residential energy consumption per capita per unit of finished area of the household’s house, and how those impacts interact with each other using South Korea as a case study. Our findings suggest that the rise of solo living and an ageing population have overlapping effects on energy consumption and threaten future improvements in residential energy intensity. Specifically, an increase of single-person households results in a decline in energy intensity regardless of whether the household is elderly or non-elderly and the effect of an increase in elderly households on energy intensity depends on whether the household is single- or multiple-person. Given the similar average size of finished area for single-person households, the difference in per unit energy consumption between elderly versus non-elderly households likely comes from behavioral differences such as a greater use of energy-intensive appliances by non-elderly households than elderly households. However, for multiple-person households, the effect of such behavioral differences seems to be dominated by the effect of a house’s shared amenities. The common space and energy-consuming amenities of a house are shared by more individuals in non-elderly households, leading to more intensive energy consumption by non-elderly multiple-person households than by elderly multiple-person households.

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Section: Introductionmentioning

confidence: 99%

Impact of the rise of solo living and an ageing population on residential energy consumption in South Korea

Cho

Soh

Park

et al. 2021

Energy & Environment

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“…Within this broad theme, Wilhelmsson's (2008) paper on the effects of property maintenance and depreciation provided a source of reference, as the researcher establishes a significant relationship between maintenance and property price via a depreciation rate. Also of note, and perhaps more directly aligned with the research question within this paper, is Tyvimaa's (2019) work. It combines spatial analysis and regression modelling to build an argument for the relationship between single occupancies and house prices.…”

Section: Literature Reviewmentioning

confidence: 69%

Development risk and unit size within the UK property market

Moore

2022

IJHMA

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Purpose This paper aims to explore the relationship between market pricing and design quality within the development industry. Currently, there is a lack of research that examines real estate at the property level. Development quality is widely believed to have diminished over the past decades, while many investors seem uninterested in the design process. The study aims to address these issues through a pricing model that integrates design attributes. It is hoped that empirical findings will invite broader stakeholder interest in the design process. Design/methodology/approach The research establishes a framework for assessing spatial compliance across residential developments within London. Compliance is assessed across ten boroughs, with technical space guidelines used as a proxy for design quality. Transaction prices and spatial assessments are aligned within a hedonic pricing model. Empirical findings are used to establish whether undermining spatial standards presents a significant development risk. Findings Findings suggest a relationship between sale time and unit size, with “compliant” units typically transacting earlier than “non-compliant” units. Almost half of the 1,600 apartments surveyed appear to undermine technical guidelines. Research limitations/implications It is suggested that an array of design attributes be explored that extend beyond unit size. Additionally, future studies may consider the long-term implications of design quality via secondary transaction prices. Practical implications Practical implications include the development of a more scientific approach to design valuation. This may enhance the position of product design management within the development industry and architectural services. Social implications Social implications may include improvement in residential design. Originality/value An innovative approach combines a thorough understanding of both design and economic principles.

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“…The HPM assumes that a house is composed of different characteristics and that housing prices depend on the consumer utility of all the characteristics to (Rosen, 1974). In general, past HPMs included four main aspects: Community Population Structure such as the proportion of young, single, high‐income, or highly‐educated individuals in the neighborhood (Gibbons, 2003; Tyvimaa & Kamruzzaman, 2018); Locational Characteristics such as transportation and distance to the Central Business District, parks, and schools (Brandt & Maennig, 2011; Efthymiou & Antoniou, 2013; Kam et al., 2016; Mulley, 2013); Community Characteristics such as community's green rate and plot ratio (He et al., 2010; Jim & Chen, 2006); Housing Characteristics such as size and number of rooms and building age (Fletcher et al., 2000; Goodman & Thibodeau, 1995; Mingche & Brown, 1980). The present study mainly considered Community Population Structure through the characteristics of senior neighbors.…”

Section: Methodsmentioning

confidence: 99%

“…Researchers discussed the influence of the number of a certain kind of neighborhood population on housing prices. Characteristics include race or ethnic composition (Clapp et al., 2008; Harris, 1999; Hipp & Singh, 2014; Macpherson & Sirmans, 2001; Myers, 2004); number of young, single‐person households (Tyvimaa & Kamruzzaman, 2018). The socioeconomic characteristics of the neighborhood population have also received some attention.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Scholars explored the quantitative characteristics of the neighborhood population, such as the number of ethnic minorities and socioeconomic characteristics, such as years of education and occupation (Clapp et al., 2008; Wang et al., 2012). Recent research has gradually focused on specific groups of people living in neighborhoods (Gibbons, 2003; Tyvimaa & Kamruzzaman, 2018).…”

Section: Introductionmentioning

confidence: 99%

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The spillover effect of senior neighbors on housing prices: Evidence from Beijing, China

et al. 2022

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The spillover effect of seniors on housing prices has become a hot issue. Previous studies focused on the macro impact of aging on housing prices, paying less attention to the characteristics of seniors in micro-community.This study attempts to fill this gap by assessing the spillover effect of the number, education levels, and occupations of senior neighbors on housing prices. Based on seniors' characteristics in 3,565 neighborhood commit-

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The effect of young, single person households on apartment prices: an instrument variable approach

Cited by 14 publications

References 37 publications

Impact of the rise of solo living and an ageing population on residential energy consumption in South Korea

Impact of the rise of solo living and an ageing population on residential energy consumption in South Korea

Development risk and unit size within the UK property market

The spillover effect of senior neighbors on housing prices: Evidence from Beijing, China

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