Factors Affecting Spatial Autocorrelation in Residential Property Prices
نویسندگان
چکیده
Within housing literature, the presence of spatial autocorrelation (S.A.) in prices is typically examined horizontally a two-dimensional setting. However, context apartment buildings, there also vertical component S.A. for units located on different floor levels. This paper therefore explores determinants both horizontal and within residential property prices. First, we posit that consequence price discovery process real estate, which traders acquire information from recent market transactions (i.e., comparables) to value subject property. Furthermore, contend extent rely comparables determine governed by liquidity volatility conditions market, turn affects magnitude By developing testing several autoregressive hedonic models using open transaction data Hong Kong find tends increase S.A., whilst more prone but depress
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ژورنال
عنوان ژورنال: Land
سال: 2022
ISSN: ['2073-445X']
DOI: https://doi.org/10.3390/land11060931