Spatial dependence in commercial property prices: micro evidence from the Netherlands

Following a hedonic framework, this paper constructs various transaction-based commercial property price indicators for the Netherlands. Using quarterly data from the Investment Property Databank (IPD), the analysis covers a total of 10,000 listed properties over the period 2001-2011. The study contributes to the empirical literature by introducing a spatial econometric methodology into a hedonic framework, via a spatially lagged explanatory variable (spatially lagged valuations per square metre). The results provide significant evidence of the presence of spatial dependence in unit valuations... Mehr ...

Verfasser: Özyurt, Selin
Dokumenttyp: doc-type:workingPaper
Erscheinungsdatum: 2014
Verlag/Hrsg.: Frankfurt a. M.: European Central Bank (ECB)
Schlagwörter: ddc:330 / R30 / C31 / C21 / R12 / commercial property prices / real estate economics / spatial dependence / spatial econometrics
Sprache: Englisch
Permalink: https://search.fid-benelux.de/Record/base-26846620
Datenquelle: BASE; Originalkatalog
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Link(s) : http://hdl.handle.net/10419/154060