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Journal articles on the topic 'Hedonic Price Model (HPM)'

Author: Grafiati

Published: 2 June 2025

Last updated: 31 July 2025

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1

Jayantha, Wadu Mesthrige, and Olugbenga Timo Oladinrin. "Bibliometric analysis of hedonic price model using CiteSpace." International Journal of Housing Markets and Analysis 13, no. 2 (2019): 357–71. http://dx.doi.org/10.1108/ijhma-04-2019-0044.

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Purpose Hedonic price modeling (HPM) plays an important role in identifying factors affecting the price of goods or services. Many researchers have extensively used this modeling approach in their research work. However, there has been no bibliometric review that analyses the existing research, which makes use of HPM modeling. This study aims to provide a comprehensive visualized bibliometric and scientometric view of HPM usage in real estate research. Design/methodology/approach The Scopus database was used to collect the bibliographic data of 269 publications from 1970 to 2019. CiteSpace sof

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J., K. Sakariyau, E. A. Mendie, K. R. Ajibade, and A. Yusuf. "A Review of Literature on Application of Hedonic Price Model on Residential Property Value in Nigeria." International Journal of Real Estate 1, no. 2 (2025): 42–55. https://doi.org/10.5281/zenodo.15314194.

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The real estate market has long been influenced by a variety of factors, including location, amenities, and physical characteristics making property valuation a complex and multifaceted process. The Hedonic Pricing Model (HPM) has emerged as a powerful tool in assessing property values by considering the different attributes that contribute to market prices. This study examines previous literatures on application of HPM in the assessment of property value; by examining numerous studies, this study examined the theoretical aspects of the HPM specifications, explored potential commonalities in t

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Li, Sheng, Yi Jiang, Shuisong Ke, Ke Nie, and Chao Wu. "Understanding the Effects of Influential Factors on Housing Prices by Combining Extreme Gradient Boosting and a Hedonic Price Model (XGBoost-HPM)." Land 10, no. 5 (2021): 533. http://dx.doi.org/10.3390/land10050533.

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The characteristics of housing and location conditions are the main drivers of spatial differences in housing prices, which is a topic attracting high interest in both real estate and geography research. One of the most popular models, the hedonic price model (HPM), has limitations in identifying nonlinear relationships and distinguishing the importance of influential factors. Therefore, extreme gradient boosting (XGBoost), a popular machine learning technology, and the HPM were combined to analyse the comprehensive effects of influential factors on housing prices. XGBoost was employed to iden

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Zhan, Wenxi, Yu Hu, Wenxian Zeng, Xing Fang, Xionghua Kang, and Dawei Li. "Total Least Squares Estimation in Hedonic House Price Models." ISPRS International Journal of Geo-Information 13, no. 5 (2024): 159. http://dx.doi.org/10.3390/ijgi13050159.

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In real estate valuation using the Hedonic Price Model (HPM) estimated via Ordinary Least Squares (OLS) regression, subjectivity and measurement errors in the independent variables violate the Gauss–Markov theorem assumption of a non-random coefficient matrix, leading to biased parameter estimates and incorrect precision assessments. In this contribution, the Errors-in-Variables model equipped with Total Least Squares (TLS) estimation is proposed to address these issues. It fully considers random errors in both dependent and independent variables. An iterative algorithm is provided, and poster

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Chen, Hong, Zhongsheng He, Wei Hong, and Jinfu Liu. "An Assessment of Stumpage Price and the Price Index of Chinese Fir Timber Forests in Southern China Using a Hedonic Price Model." Forests 11, no. 4 (2020): 436. http://dx.doi.org/10.3390/f11040436.

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Research Highlights: Stumpage price is the most important factor affecting the value of forests. Therefore, an understanding of the factors affecting stumpage prices and trends is critical for effective forest management. Background and Objectives: Chinese fir is the most important fast-growing timber species in China, it is also the tree species with the largest trading volume in the stumpage markets of Southern China. The aim of this study was to analyze the determinants and trends of stumpage prices for Chinese fir timber forests. Materials and Methods: Data on 928 sales of Chinese fir timb

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Heyman, Axel, Stephen Law, and Meta Berghauser Pont. "How is Location Measured in Housing Valuation? A Systematic Review of Accessibility Specifications in Hedonic Price Models." Urban Science 3, no. 1 (2018): 3. http://dx.doi.org/10.3390/urbansci3010003.

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Accessibility is frequently used for measuring location in housing studies, but specifications of the measures differ greatly and its implications are hardly discussed. This paper sets out to systematically review accessibility measures that are used in hedonic price models (HPM), a method for estimating the implicit value of housing characteristics, such as location. From a systematic database search of peer-reviewed journal articles, we examined 54 articles that applies accessibility measures in hedonic price models that are based on three aspects of measure specification: type, impedance, a

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Oh, Saejoon. "HEDONIC ANALYSIS OF FACTORS AFFECTING SALES PRICE OF FLATTED FACTORY UNITS: EVIDENCE FROM KOREA." International Journal of Strategic Property Management 23, no. 4 (2019): 256–68. http://dx.doi.org/10.3846/ijspm.2019.8050.

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Recently flatted factories have drawn attention as investment goods from developers and investors. The strengths and merits of these investments are that they are low priced and less strictly regulated. The purpose of this study is to empirically analyse the factors affecting the price of flatted factories by using the real transacted sales prices of 785 flatted factory units in Seoul and Gyeong-gi Province, Korea. A Hedonic Price Model (HPM) is employed for the study. The result finds that the price of flatted factories is affected by various factors: Location, Property, and Unit characterist

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Yang, Sijie, Kimon Krenz, Waishan Qiu, and Wenjing Li. "The Role of Subjective Perceptions and Objective Measurements of the Urban Environment in Explaining House Prices in Greater London: A Multi-Scale Urban Morphology Analysis." ISPRS International Journal of Geo-Information 12, no. 6 (2023): 249. http://dx.doi.org/10.3390/ijgi12060249.

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House prices have long been closely related to the built environment of cities, yet whether the subjective perception (SP) of these environments has a differing effect on prices at multiple urban scales is unclear. This study sheds light on the impact of people’s SP of the urban environment on house prices in a multi-scale urban morphology analysis. We trained a machine learning (ML) model to predict people’s SP of the urban environment around properties across Greater London with survey response data from an online survey evaluating people’s SP of street view image (SVI) and linked this to ho

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Choi, Seungwoo, and Mun Yong Yi. "Computational Valuation Model of Housing Price Using Pseudo Self Comparison Method." Sustainability 13, no. 20 (2021): 11489. http://dx.doi.org/10.3390/su132011489.

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Hedonic pricing method (HPM), which is commonly used for estimating real estate property values, considers the property’s internal and external characteristics for its valuation. Despite its popularity, however, the method lacks the mechanism that directly reflects the target property’s price fluctuation and the real estate market’s volatility over time. To overcome these limitations, we propose Pseudo Self Comparison Method (PSCM), which reduces the real estate valuation problem to finding a pseudo self, which is defined as a housing property that can most closely approximate the characterist

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Xue, Chao, Yongfeng Ju, Shuguang Li, and Qilong Zhou. "Research on the Sustainable Development of Urban Housing Price Based on Transport Accessibility: A Case Study of Xi’an, China." Sustainability 12, no. 4 (2020): 1497. http://dx.doi.org/10.3390/su12041497.

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The development of a real estate economy is beneficial to urban stability. A method of real estate price prediction based on transport accessibility is proposed. The method adds bus accessibility and metro accessibility into the model, which has higher prediction accuracy than the traditional model. Firstly, bus accessibility and metro accessibility are calculated according to the space syntax theory. Then, four models, the traditional hedonic price model (HPM) with transport accessibility, the traditional hedonic price model without transport accessibility, the random forest (RF) model with t

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Amalia, Nurisqi, Nur Aini Yuniyarti, and Fatima Putri Prativi. "Application of Hedonic Pricing Model and Geographic Information System on Property Valuation in Yogyakarta." JAMPE (Journal of Asset Management and Public Economy) 3, no. 2 (2024): 127–39. http://dx.doi.org/10.12928/jampe.v3i2.9335.

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This study aims to: 1) identify the differences in housing choices between Generation Z (students) and the previous generation (parents or guardians); 2) determine the factors influencing housing purchase decisions; and 3) map the areas of interest for Universitas Gadjah Mada (UGM) students based on price. The research employs a combination of the Hedonic Pricing Model (HPM) and Geographic Information System (GIS), a method that remains limited in the field of property research. The findings reveal that significant factors affecting property prices are building area and location, with the majo

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Pawlicz, Adam, and Tomasz Napierala. "The determinants of hotel room rates: an analysis of the hotel industry in Warsaw, Poland." International Journal of Contemporary Hospitality Management 29, no. 1 (2017): 571–88. http://dx.doi.org/10.1108/ijchm-12-2015-0694.

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Purpose This study aims to measure the effect on prices through the differing characteristics and attributes of hotels. Design/methodology/approach A hedonic price model (HPM) was adopted to estimate the impact of various site and situational factors on hotel prices in Warsaw, Poland. To better understand room rates not explained by HPM, spatial analysis of residuals was used. Datasets regarding prices from three different online travel agents (OTAs) and star ratings, either official or provided by OTAs, were investigated. Findings A significant impact on hotel prices by star rating has been c

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Morena, Marzia, Genny Cia, Liala Baiardi, and Juan Sebastián Rodríguez Rojas. "Residential Property Behavior Forecasting in the Metropolitan City of Milan: Socio-Economic Characteristics as Drivers of Residential Market Value Trends." Sustainability 13, no. 7 (2021): 3612. http://dx.doi.org/10.3390/su13073612.

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The phenomenon of urbanization of cities has been the subject of numerous studies and evaluation protocols proposing to analyze the degree of economic and social sustainability of development projects. Through careful research and synthesis of the theoretical framework regarding residential properties’ performance measurement and forecasting, this paper goes deeper into the proposition of property development as an asset class that represents the biggest share of the Italian property market and yet is avoided by the big portfolios. The analysis model was applied to the city of Milan and its Me

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Zou, Can, Jun Tai, Li Chen, and Yue Che. "An Environmental Justice Assessment of the Waste Treatment Facilities in Shanghai: Incorporating Counterfactual Decomposition into the Hedonic Price Model." Sustainability 12, no. 8 (2020): 3325. http://dx.doi.org/10.3390/su12083325.

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Environmental justice (EJ) has become an increasingly significant issue for environmental management and has thus attracted increasing government and public attention. Although some studies have used techniques of proximity based on geographical information systems to assess EJ, their research is limited to individual or household data. Unlike the conventional hedonic price model (HPM) examining the effects of environmental features on housing rent, this article incorporates counterfactual decomposition into the HPM to estimate the environmental pressure on different groups by comparing the ex

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Ismail, Nur Hafizah, Mohd Zaini Abd Karim, and Bakti Hasan Basri. "Does Flood Affect Property Values? A Hedonic Analysis of Residential Property Values in Peninsular Malaysia." Journal of Business Management and Accounting 4 (February 23, 2020): 1–14. http://dx.doi.org/10.32890/jbma2014.4.0.8875.

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The hedonic pricing model (HPM) has been used to identify the values of residentialproperty due to flood impact. Most of the previous studies had been conducted usingflood frequency and flood depth to measure flood variables rather than flood duration.The hedonic pricing study presented here investigated the effect of flood duration onresidential property value in Peninsular Malaysia. We measured the housing attributesinvolving location, structural, and neighborhood attributes. We also developed theinteraction variable between flood and structural attributes to determine whether theeffect of f

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Hartoyo, Harry, Didin S. Damanhur, Asep Saefuddin, and Gunadi Triguna. "The Model of Property Tax assessment based on Straight Line Distance and Distance of Travel; Case Study in the West ofBogor City." Kajian Ekonomi dan Keuangan 18, no. 1 (2015): 1–14. http://dx.doi.org/10.31685/kek.v18i1.29.

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The purpose of this study is to find out what factors that affect the land prices, as well as researching the straight line distance or the distance of travel to public facilities stronnger to influence the land prices. The results of this study are necessary to improve the method of determination of the assessment (the value of tax object used by Indonesia's property tax or Nilai Jual Obyek Pajak called NJOP) used in collection all property taxes in the city ofBogor. The data used in this study was 41 vacant lot in area ofBogor Barat, which has been traded throughout the last six months in 20

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Dubé, Jean, Maha AbdelHalim, and Nicolas Devaux. "Evaluating the Impact of Floods on Housing Price Using a Spatial Matching Difference-In-Differences (SM-DID) Approach." Sustainability 13, no. 2 (2021): 804. http://dx.doi.org/10.3390/su13020804.

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Many applications have relied on the hedonic pricing model (HPM) to measure the willingness-to-pay (WTP) for urban externalities and natural disasters. The classic HPM regresses housing price on a complete list of attributes/characteristics that include spatial or environmental amenities (or disamenities), such as floods, to retrieve the gradients of the market (marginal) WTP for such externalities. The aim of this paper is to propose an innovative methodological framework that extends the causal relations based on a spatial matching difference-in-differences (SM-DID) estimator, and which atte

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Usman, Hamza, Mohd Lizam, and Muhammad Usman Adekunle. "Property Price Modelling, Market Segmentation and Submarket Classifications: A Review." Real Estate Management and Valuation 28, no. 3 (2020): 24–35. http://dx.doi.org/10.1515/remav-2020-0021.

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AbstractAccurate pricing of the property market is necessary to ensure effective and efficient decision making. Property price is typically modelled using the hedonic price model (HPM). This approach was found to exhibit aggregation bias due to its assumption that the coefficient estimate is constant and fails to consider variation in location. The aggregation bias is minimized by segmenting the property market into submarkets that are distinctly homogeneous within their submarket and heterogeneous across other submarkets. Although such segmentation was found to improve the prediction accuracy

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Wei, Cankun, Meichen Fu, Li Wang, Hanbing Yang, Feng Tang, and Yuqing Xiong. "The Research Development of Hedonic Price Model-Based Real Estate Appraisal in the Era of Big Data." Land 11, no. 3 (2022): 334. http://dx.doi.org/10.3390/land11030334.

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In the era of big data, advances in relevant technologies are profoundly impacting the field of real estate appraisal. Many scholars regard the integration of big data technology as an inevitable future trend in the real estate appraisal industry. In this paper, we summarize 124 studies investigating the use of big data technology to optimize real estate appraisal through the hedonic price model (HPM). We also list a variety of big data resources and key methods widely used in the real estate appraisal field. On this basis, the development of real estate appraisal moving forward is analyzed. T

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Atsilah, Annisa Nasywa, and Trias Aditya Kurniawan Muhammad. "Penerapan Metode Hedonic Price Modeling dan Model Kota LOD 1 dalam Penilaian Tanah dan Properti sebagai Dasar Pengenaan Pajak." JGISE: Journal of Geospatial Information Science and Engineering 7, no. 1 (2024): 34. http://dx.doi.org/10.22146/jgise.90776.

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Meningkatnya harga properti di kawasan perkotaan dipengaruhi oleh pesatnya urbanisasi di kawasan perkotaan. Pola spasial terkait nilai tanah dan properti yang kompleks akibat pembangunan gedung-gedung tinggi belum dipahami dengan baik. Secara umum, penilaian tanah dan properti dipengaruhi oleh aspek lokasi, lingkungan, dan fisik. Pembangunan yang terus berkembang menyebabkan perubahan spasial yang signifikan dalam dimensi vertikal. Faktor 2D yang saat ini digunakan tidak dapat mewakili perubahan informasi spasial pada dimensi vertikal. Oleh karena itu, penting untuk memperhitungkan faktor 3D d

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Jafari, Amirhosein, and Reza Akhavian. "Driving forces for the US residential housing price: a predictive analysis." Built Environment Project and Asset Management 9, no. 4 (2019): 515–29. http://dx.doi.org/10.1108/bepam-07-2018-0100.

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Purpose The purpose of this paper is to determine the key characteristics that determine housing prices in the USA. Data analytical models capable of predicting the driving forces of housing prices can be extremely useful in the built environment and real estate decision-making processes. Design/methodology/approach A data set of 13,771 houses is extracted from the 2013 American Housing Survey (AHS) data and used to develop a Hedonic Pricing Method (HPM). Besides, a data set of 22 houses in the city of San Francisco, CA is extracted from Redfin real estate brokerage database and used to test a

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Santos, José António C., Manuel Á. Fernández-Gámez, Miguel Ángel Solano-Sánchez, Francisco José Rey-Carmona, and Lorena Caridad y. López del Rio. "Valuation Models for Holiday Rentals’ Daily Rates: Price Composition Based on Booking.com." Sustainability 13, no. 1 (2020): 292. http://dx.doi.org/10.3390/su13010292.

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In recent years, the number of sharing economy accommodations has grown exponentially due to the Internet and peer-to-peer networks, which has made researchers increasingly interested in analysing this new type of lodging. This study sought to develop models that determine the significant variables for the daily price of staying in holiday rentals based on data extracted from Booking.com and other sources. The hedonic pricing method (HPM) was selected to conduct the research as this methodology has been widely used in real estate valuation and hotel daily rate determination; however, the HPM i

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Petrontino, Alessandro, Michel Frem, Vincenzo Fucilli, Antonella Labbate, Emanuela Tria, and Francesco Bozzo. "Ready-to-Eat Innovative Legumes Snack: The Influence of Nutritional Ingredients and Labelling Claims in Italian Consumers’ Choice and Willingness-to-Pay." Nutrients 15, no. 7 (2023): 1799. http://dx.doi.org/10.3390/nu15071799.

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The global offer of legume-based snacks has sharply increased in recent years. However, to date, few studies have focused on the relationship between product supply and demand concerning the importance of attributes of such innovative foods. In this research, we identified the key internal and external determinants that affect legumes snack (LS) price and choice by Italian industries and consumers, respectively. In parallel, we investigated their preferences and perceptions towards these foods. We used the hedonic price model (HPM) and the discrete choice experiment (DCE) approach for these pu

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Le, Van Thuong, Quynh Hoa Nguyen, and Van Toan Nguyen. "Analysis of factors affecting Ho Chi Minh city’s office rental price using Hedonic model." MATEC Web of Conferences 193 (2018): 05041. http://dx.doi.org/10.1051/matecconf/201819305041.

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Research on the application of Hedonic model in analyzing factors which affect office rental price in HCM city CBD area. The author uses primary data source comprised of 146 observations collected in district 1 and district 3 during the first 6 months of 2015. By using OLS method, together with three regression models commonly used in researches on the application of Hedonic model, the result shows significant impact of factors, such as building classification, management fee, road on which the building is situated, and district location on office rental price. The result of this research can

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Soetjipto, Budi Eko, Indra Maipita, Idris Idris, and Haikal Rahman. "The Impact of Earthquake/Tsunami Threat on Land Prices in Padang, West Sumatera, Indonesia." GATR Journal of Business and Economics Review 2, no. 3 (2017): 39–45. http://dx.doi.org/10.35609/jber.2017.2.3(6).

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Objective - In this study, the impact of earthquake/tsunami threat on land prices is measured using the Hedonic Price Method (HPM). The location of the research is in Padang, West Sumatra. The subject of study is land owners who purchased their land later than September 30, 2009. Methodology/Technique - The linear model and Double-log model with Ordinary Least Square (OLS) are used to estimate variable. Findings - The findings reveal that the Linear model have five variables with a significant effect. Those variables are: (1) Environmental quality, (2) Distance to the seafront, (3) Distance to

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Peng, Xiao, and Shipeng Wen. "The Economic Performance of Urban Sponge Parks Uncovered by an Integrated Evaluation Approach." Land 14, no. 5 (2025): 1099. https://doi.org/10.3390/land14051099.

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Climate change and extreme rainfall events pose great pressures on a city’s resilience to flooding and waterlogging. Designed as a kind of green infrastructure to manage stormwater, urban sponge parks (USPs) in China have been demonstrated to have ecological and societal benefits, while their landscape economic values lack evaluation. Taking the real-estate choices surrounding six USPs in China as an example, an evaluation framework integrating text mining with housing introduction documents and hedonic price model (HPM) regression with housing prices was constructed to combine the stated pref

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Xu, Haiyun, Fan Fu, and Meng Miao. "What Is the Effect of Cultural Greenway Projects in High-Density Urban Municipalities? Assessing the Public Living Desire near the Cultural Greenway in Central Beijing." International Journal of Environmental Research and Public Health 19, no. 4 (2022): 2147. http://dx.doi.org/10.3390/ijerph19042147.

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Cultural greenway projects (CGPs) are widely regarded as an urban planning approach which connects open green spaces and sites of sociocultural value to provide access to living, working and recreational spaces and enhance local social well-being. This paper examines the impact of such CGPs on public living desire before and after a given project is completed through analyzing housing prices in the surrounding area. We deployed a hedonic pricing model (HPM) and differences in differences (DID) model to analyze and record any changes in housing market trends that may have been caused by such a

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Dell’Anna, Bravi, Marmolejo-Duarte, Bottero, and Chen. "EPC Green Premium in Two Different European Climate Zones: A Comparative Study between Barcelona and Turin." Sustainability 11, no. 20 (2019): 5605. http://dx.doi.org/10.3390/su11205605.

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Energy performance certificates (EPCs) are important tools aimed at improving buildings’ energy performance. They play a central role in the context of the Energy Performance of Buildings Directive (EPBD) which asks member states (MS) to take the necessary measures to establish a complete certification system. In this study, an application of the hedonic price method (HPM) assessing the effect of energy labels derived from the EPC on real estate market value is presented. The estimation methodology was applied to two European cities characterized by different climate conditions. The analysis w

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Zhang, Yonglin, Xiao Fu, Chencan Lv, and Shanlin Li. "The Premium of Public Perceived Greenery: A Framework Using Multiscale GWR and Deep Learning." International Journal of Environmental Research and Public Health 18, no. 13 (2021): 6809. http://dx.doi.org/10.3390/ijerph18136809.

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Population agglomeration and real estate development encroach on public green spaces, threatening human settlement equity and perceptual experience. Perceived greenery is a vital interface for residents to interact with the urban eco-environment. Nevertheless, the economic premiums and spatial scale of such greenery have not been fully studied because a comprehensive quantitative framework is difficult to obtain. Here, taking advantage of big geodata and deep learning to quantify public perceived greenery, we integrate a multiscale GWR (MGWR) and a hedonic price model (HPM) and propose an anal

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Song, Qiwei, Yifeng Liu, Waishan Qiu, Ruijun Liu, and Meikang Li. "Investigating the Impact of Perceived Micro-Level Neighborhood Characteristics on Housing Prices in Shanghai." Land 11, no. 11 (2022): 2002. http://dx.doi.org/10.3390/land11112002.

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It is widely accepted that houses in better-designed neighborhoods are found to enjoy a price premium. Prior studies have mainly examined the impact of macro-level neighborhood attributes (e.g., park accessibility using land use data) on housing prices. More recently, research has investigated the micro-level features using street view imagery (SVI) data, though scholars limited the scope to objective indicators such as the green view index and sky view index. The role of subjectively measured street qualities is less discussed due to the lack of large-scale perception data. To provide better

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Zhang, Tianzheng, Yingxiang Zeng, Yingjie Zhang, Yan Song, and Hongxun Li. "The Heterogenous Demand for Urban Parks between Home Buyers and Renters: Evidence from Beijing." Sustainability 12, no. 21 (2020): 9058. http://dx.doi.org/10.3390/su12219058.

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Many studies have confirmed that there is demand among urban residents and renters for urban parks. Moreover, as renters and home buyers have very different levels of ownership over their housing resources, their demands for amenities can be heterogenous. To discover and identify such heterogeneous demands is worthy of attention. Using the micro-housing resale transactions and listing data for housing leases in Beijing during 2019, this paper explores the difference between the demand for urban parks among home buyers and renters outside the community from the perspective of the internal quali

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Cao, Zhen, Xingliang Liu, Bin Lei, Changjiang Liu, and Lizhu Jing. "Analyzing Indicators Affecting Commercial Property Value in Metro Station Accessible Area Using Walking Time Consumption: Case of Xi’an, China." Complexity 2020 (November 18, 2020): 1–12. http://dx.doi.org/10.1155/2020/5975243.

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In studies investigating the property value enhancements along metro lines, study ranges in most cases are measured in Euclidean distance. However, city roads are not always straight, and Euclidean distance sometimes does not equal to actual distance the passenger travels from the public transport station to their home or a commercial spot. To solve this problem, this study analyzed the indicators affecting commercial property value in metro station accessible area in Xi’an, using walking time consumption in measuring the study range. Following a conceptual framework, considering empirical evi

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Jafary, P., D. Shojaei, A. Rajabifard, and T. Ngo. "A FRAMEWORK TO INTEGRATE BIM WITH ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING-BASED PROPERTY VALUATION METHODS." ISPRS Annals of the Photogrammetry, Remote Sensing and Spatial Information Sciences X-4/W2-2022 (October 14, 2022): 129–36. http://dx.doi.org/10.5194/isprs-annals-x-4-w2-2022-129-2022.

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Abstract. Property valuation is of extreme importance since variations in the real estate market enormously influence people’s life. The main goal of Automated Valuation Models (AVMs) is to calculate the market value of a large number of properties with an acceptable accuracy. The Hedonic Price Model (HPM) is the most widely used AVM for the valuation purposes. Despite its simplicity, ease of use and straightforwardness, HPM lacks the capability to address the non-linear relationships between different value-related factors. Hence, researchers have developed other state-of-the-art property val

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Xu, Xiang, Waishan Qiu, Wenjing Li, et al. "Associations between Street-View Perceptions and Housing Prices: Subjective vs. Objective Measures Using Computer Vision and Machine Learning Techniques." Remote Sensing 14, no. 4 (2022): 891. http://dx.doi.org/10.3390/rs14040891.

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This study investigated the extent to which subjectively and objectively measured street-level perceptions complement or conflict with each other in explaining property value. Street-scene perceptions can be subjectively assessed from self-reported survey questions, or objectively quantified from land use data or pixel ratios of physical features extracted from street-view imagery. Prior studies mainly relied on objective indicators to describe perceptions and found that a better street environment is associated with a price premium. While very few studies have addressed the impact of subjecti

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Wang, Xinyi, Yixuan Xie, Linhui Xia, Jin He, and Beiyu Lin. "Investigating the Effect of Transit-Oriented Development (TOD) on Social Equity—Examining the Displacement of Footscray, Melbourne." Buildings 14, no. 3 (2024): 824. http://dx.doi.org/10.3390/buildings14030824.

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As Melbourne faces exponential population growth, the necessity for resilient urban planning strategies becomes critical. These strategies include mixed land use, density, diversity, and sustainable transportation through transit-oriented development (TOD). While TOD promises to accommodate growing populations and address environmental concerns, it also raises issues regarding its unintended consequences on poverty and inequality, notably through residential displacement and gentrification. This study investigates the impacts of TOD construction on inequality in Footscray, employing spatial an

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Méndez Campos, Paulo, Johanna Solórzano Thompson, and Javier Paniagua Molina. "Effect of irrigation water availability on the value of agricultural land in Guanacaste, Costa Rica." e-Agronegocios 7, no. 1 (2020): 38–55. http://dx.doi.org/10.18845/ea.v7i1.5580.

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The need for water and its impacts on agriculture and food security are growing concerns around the world and Costa Rica is no exception. In this context, the valuation of lands in light of the availability of irrigation water and other external variables has been used by different authors around the world. The objective of this research was to estimate the change in the value of the land associated with the improvement in the hydrological quality in the farms benefited from the irrigation programs in the Guanacaste region. To estimate this change, he used the hedonic pricing method (HPM) appl

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Duan, Lingling, Xiang Niu, and Bing Wang. "The Urban Park Green Spaces Landscape Premium Functional Value Accounting System: Construction and Application." Sustainability 16, no. 23 (2024): 10612. https://doi.org/10.3390/su162310612.

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Urban park green spaces have the functions of improving the urban ecological environment and providing recreational services, and at the same time, they have a certain effect on the value of the surrounding residential property. To quantitatively assess the value of the landscape premium function of park green space, many scholars have carried out research exploration and adopted a variety of methods (such as the contingent valuation method (CVM), travel cost method (TCM) and hedonic price method (HPM)), which have developed from simple theoretical models with single factors to complex empiric

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Jin, Shuqi, Yuhui Zhao, and Chunhui Liu. "Reconstructing Social Segregation in Danwei: An Examination of High-Quality Education Resources’ Impact on Housing Prices in Nanjing, China." Buildings 13, no. 10 (2023): 2427. http://dx.doi.org/10.3390/buildings13102427.

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This study investigates the impact of capitalizing educational resources on housing prices. As housing has gradually transitioned from a basic social right to a means of accumulating individual and familial wealth, it has emerged as a significant indicator of social stratification and has increasingly become a crucial tool for the intergenerational reproduction of social class. This paper takes Nanjing, China, as a case study and uses the geographically weighted regression model (GWR) and the hedonic pricing model (HPM) to investigate the impact of high-quality primary schools on housing price

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AbdelHalim, Maha, Jean Dubé, and Nicolas Devaux. "The Spatial and Temporal Decomposition of the Effect of Floods on Single-Family House Prices: A Laval, Canada Case Study." Sustainability 13, no. 9 (2021): 5088. http://dx.doi.org/10.3390/su13095088.

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This paper aims to estimate and decompose the spatial and temporal effect of a flood event occurring in the city of Laval in 1998 using a hedonic pricing model (HPM) based on a difference-in-differences (DID) estimator. The empirical investigation of the impact of flood as a natural disaster must take into account the fact that the negotiation process between buyers and sellers may well occur before the event. It is argued that the evaluation procedure needs to be adjusted to account for this reality because the estimation of the effects may otherwise be biased and isolate other effects. To te

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Dell’Anna, Federico. "What Advantages Do Adaptive Industrial Heritage Reuse Processes Provide? An Econometric Model for Estimating the Impact on the Surrounding Residential Housing Market." Heritage 5, no. 3 (2022): 1572–92. http://dx.doi.org/10.3390/heritage5030082.

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When industrial relics, such as obsolete buildings, sites, and infrastructures, enter into a process of adaptive reuse, they become transformation engines capable of shaping the urban fabric. They provide tangible and intangible links to our past and have the potential to play a significant role in today’s cities’ futures. One unresolved issue is the quantification of the externalities of these transformation processes. If undertaken correctly, adaptive reuse can contribute to the development of social and cultural capital, environmental sustainability, urban regeneration, and, most importantl

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Ying, Yue, Mila Koeva, Monika Kuffer, Kwabena Obeng Asiama, Xia Li, and Jaap Zevenbergen. "Making the Third Dimension (3D) Explicit in Hedonic Price Modelling: A Case Study of Xi’an, China." Land 10, no. 1 (2020): 24. http://dx.doi.org/10.3390/land10010024.

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Recent rapid population growth and increasing urbanisation have led to fast vertical developments in urban areas. Therefore, in the context of the dynamic property market, factors related to the third dimension (3D) need to be considered. Current hedonic price modelling (HPM) studies have little explicit consideration for the third dimension, which may have a significant influence on modelling property values in complex urban environments. Therefore, our research aims to narrow the cognitive gap of the missing third dimension by assessing both 2D and 3D HPM and identifying important 3D factors

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Roubi, Sherif. "The valuation of intangibles for hotel investments." Property Management 22, no. 5 (2004): 410–23. http://dx.doi.org/10.1108/02637470410570761.

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Reviews the literature on the valuation of intangibles for hotel investments. Contrary to the sceptical outlook portrayed in the literature, demonstrates the effectiveness of ex‐post models and hedonic pricing models (HPM) as an objective and robust tool in separating and measuring intangible hotel property and decomposing total asset value. Develops two HPM models using data on 50 hotel properties appraised in 1997. All hotels are owned and managed by the same hotel company and affiliated with the same brand. Some 58 per cent of the properties are freeholds and the rest are leaseholds. Estima

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Loomis, John B. "Incorporating Distributional Issues into Benefit Cost Analysis: Why, How, and Two Empirical Examples Using Non-market Valuation." Journal of Benefit-Cost Analysis 2, no. 1 (2011): 1–24. http://dx.doi.org/10.2202/2152-2812.1044.

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This article reviews the rationale for and various approaches used by economists to incorporate distributional consequences of projects or policies into benefit-cost analyses. Approaches reviewed include distributional weights and metrics based on the Lorenz curve. Analysis of distributional issues in partial equilibrium and general equilibrium settings are briefly reviewed. We present an empirical demonstration of how the contingent valuation method (CVM) and hedonic property methods (HPM) can be used to quantify how non-market environmental benefits are distributed by income and ethnicity. U

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Bonnetain, Philippe. "A hedonic price model for islands." Journal of Urban Economics 54, no. 2 (2003): 368–77. http://dx.doi.org/10.1016/s0094-1190(02)00506-5.

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Wang, Heyong, and Rong Cui. "Research on the Price of Online Short-Term Rental Rooms Based on Fusion of User Reviews." Journal of Advanced Computational Intelligence and Intelligent Informatics 22, no. 6 (2018): 978–88. http://dx.doi.org/10.20965/jaciii.2018.p0978.

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With the rapid development of the Internet and travel market, the availability of online short-term rental rooms has emerged, making good use of limited room resources. In current research, only structured data of room characteristics, such as the location of the room, are considered in the price of the room. As unstructured textual data, online user’s reviews containing the emotional responses of users influence the price of online short-term rental rooms. In this research, user reviews are considered in a hedonic price regression model to improve the performance of regression. First, structu

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Czyżewski, Bazyli, Anna Matuszczak, and Grzegorz Przekota. "Metodyczne aspekty wyceny dóbr publicznych na obszarach wiejskich: koncepcja waloryzacji endogenicznej = Methodical aspects of public goods valuation in rural areas: the concept of endogenous valuation." Studia Obszarów Wiejskich 52 (2018): 7–21. http://dx.doi.org/10.7163/sow.52.1.

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The aim of the study is to create a conceptual framework for the valuation of the endogenous influence of public goods in rural areas using the new approach: the economic surplus valuation method (ESV), which implements the concept of producer and consumer rent. A distinctive feature of the ESV, compared to other market-based valuation methods is the assumption that public goods exert an endogenous impact upon resources and their productivity, but do not act in the model as exogenous variables (as it is in the case of hedonic pricing methods; the HPM). The authors’ approach limits the issues r

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Dunse, Neil, and Colin Jones. "A hedonic price model of office rents." Journal of Property Valuation and Investment 16, no. 3 (1998): 297–312. http://dx.doi.org/10.1108/14635789810221760.

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Limsombunc, Visit, Christopher Gan, and Minsoo Lee. "House Price Prediction: Hedonic Price Model vs. Artificial Neural Network." American Journal of Applied Sciences 1, no. 3 (2004): 193–201. http://dx.doi.org/10.3844/ajassp.2004.193.201.

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Chwiałkowski, Cyprian, and Adam Zydroń. "Socio-Economic and Spatial Characteristics of Wielkopolski National Park: Application of the Hedonic Pricing Method." Sustainability 13, no. 9 (2021): 5001. http://dx.doi.org/10.3390/su13095001.

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The study aimed to determine the influence of the proximity of Wielkopolski National Park (WNP) on the value of dwelling units in Mosina municipality. The research was conducted based on 1182 residential property transactions in the period from 2014 to 2018. The input data were subjected to spatial and statistical analysis. The main part of the analysis was performed with the use of the hedonic price method (HPM)—WLS (weighted least squares). The use of statistical tools made it possible to find undeniable evidence that the housing prices are positively related to the presence of Wielkopolski

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GÖREN, Serdar Cihat, and Olcay ARSLAN. "A study on using robust hedonic regression implementation." Communications Faculty Of Science University of Ankara Series A1Mathematics and Statistics 72, no. 2 (2023): 551–62. http://dx.doi.org/10.31801/cfsuasmas.1187009.

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This article aims to determine the features affecting the price of a product with the hedonic regression model and to estimate the contribution of each feature to the price by using robust regression estimation methods. For the analysis, the price and feature information of the laptop product group were obtained from the big data source by using the web scraping method. Four alternatives of the hedonic regression model are used to determine the features affecting the price of the laptops. The contribution of each feature to the laptop price is estimated by using the robust (Huber M-estimator)

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