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A platform for research: civil engineering, architecture and urbanism
Spatial and Hedonic Analysis of House Price Dynamics in Warsaw, Poland
AbstractThe aim of the paper is to analyze the dynamics of house prices in the housing market in Warsaw, Poland, taking into account the spatial relationship between prices. In the first part of this research the geographically weighted regression is compared with a linear regression estimated using ordinary least squares with spatial variables. In the second part, the geographically weighted regression is combined with the generalized additive model regression to extract the effect of time on prices. A hedonic index is obtained that is more robust against short-term changes in house prices than the usual linear hedonic index. This is a novel approach, which has not been applied before in the case of the Polish housing market. The paper indicates that the use of spatial information improves the analysis of house prices and should be thus extended to other cities.
Spatial and Hedonic Analysis of House Price Dynamics in Warsaw, Poland
AbstractThe aim of the paper is to analyze the dynamics of house prices in the housing market in Warsaw, Poland, taking into account the spatial relationship between prices. In the first part of this research the geographically weighted regression is compared with a linear regression estimated using ordinary least squares with spatial variables. In the second part, the geographically weighted regression is combined with the generalized additive model regression to extract the effect of time on prices. A hedonic index is obtained that is more robust against short-term changes in house prices than the usual linear hedonic index. This is a novel approach, which has not been applied before in the case of the Polish housing market. The paper indicates that the use of spatial information improves the analysis of house prices and should be thus extended to other cities.
Spatial and Hedonic Analysis of House Price Dynamics in Warsaw, Poland
Olszewski, Krzysztof (author) / Widłak, Marta / Waszczuk, Joanna
2017
Article (Journal)
English
Spatial and Hedonic Analysis of House Price Dynamics in Warsaw, Poland
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