Urban quality and real estate market: a hybrid approach based on Multicriteria Analysis and Hedonic Pricing model

2018 ◽  
Author(s):  
Laura Gabrielli ◽  
Marta Bottero ◽  
Alessandra Oppio
Keyword(s):  
Real Estate ◽  
Hybrid Approach ◽  
Multicriteria Analysis ◽  
Hedonic Pricing ◽  
Real Estate Market ◽  
Pricing Model ◽  
Hedonic Pricing Model ◽  
Urban Quality

scholarly journals Modelling the drivers of the UK multi-let industrial property market: an exploratory study

2020 ◽  
Vol 38 (4) ◽  
pp. 585-596
Author(s):  
David Higgins ◽  
Tsvetomira Vincent ◽  
Peter Wood
Keyword(s):  
Real Estate ◽  
Hedonic Pricing ◽  
Valuable Insight ◽  
Pricing Model ◽  
Property Market ◽  
Industrial Property ◽  
Content Type ◽  
Hedonic Pricing Model ◽  
Significant Difference ◽  
Asset Class

PurposeMulti-let industrial (MLI) estates are an emerging £15 billion UK real estate asset class that can offer attractive returns, a diversified income base, constrained supply and extensive management opportunities to add value within an operational platform. This investment appeal is supported by the evolving MLI occupier market with the growth of small to medium enterprises (SME) requiring modern urban business space driven in part by technology advances offering new streams of supply chain connectivity between businesses and potential clients at a local level.Design/methodology/approachTo understand more about MLI properties, this study utilises a hedonic pricing model to quantify property values as a function of defined variables. The dataset used for this research is a sample portfolio of 26 multi-let industrial properties. The dataset was analysed alongside eleven physical, financial and locational factors. Interestingly, the hedonic pricing model results showed that only four characteristics are value-affecting across the selected properties: namely (1) Granularity of the property income, (2) Distance from the nearest motorway, (3) Distance to the nearest town centre and (4) Gross internal floor area. A chi–test confirmed that there was no significant difference between the modelled values and the supplied property valuations.FindingsThis preliminary study offers valuable insight into MLI property market drivers and could easily form a simple decision-making tool to examine potential MLI opportunities in this developing real estate asset class.Originality/valueIn detailing these key MLI property features, current research is limited and focused primarily on market commentary. New knowledge on the MLI property market can provide a platform creating interesting opportunities for fund managers with an intensive management engagement strategy.

scholarly journals Valuación de la calidad urbano-ambiental. Una modelación hedónica: San Nicolás de los Garza, México / Assessment of Urban-Environmental Quality. A Hedonic Modeling: San Nicolás de los Garza, Mexico

2013 ◽  
Vol 28 (2) ◽  
pp. 383 ◽  
Author(s):  
Jesús Manuel Fitch Osuna ◽  
Karina Soto Canales ◽  
Ricardo Garza Mendiola
Keyword(s):  
Life Cycle ◽  
Real Estate ◽  
Environmental Quality ◽  
Spatial Information ◽  
Hedonic Pricing ◽  
Land Policy ◽  
Pricing Model ◽  
Hedonic Pricing Model ◽  
The Real Estate ◽  
Hedonic Modeling

En esta investigación se aborda la teoría de la formación espacial de valores inmobiliarios (vivienda) en el municipio de San Nicolás de los Garza, México. Ese ámbito se encuentra  inmerso en una dinámica metropolitana, de ahí que se evalúe el proceso inmobiliario frente a las fuerzas centrales y periféricas que generan el crecimiento y el ciclo de vida urbano e inmobiliario, así como la calidad urbana ambiental. El resultado es un modelo de precios hedónicos que definen los atributos que explican, con mayor grado de significancia el cambio en el valor del suelo. Todo ello coadyuva a la implementación de una política de suelo. AbstractThis research deals with the theory of spatial information in real estate values (housing) in the municipality of San Nicolás de los Garza, Mexico, an area is immersed in a metropolitan dynamic. Consequently, the real estate process is evaluated in the context of the central and peripheral forces that generate growth and the urban and housing life cycle as well as urban environmental quality. The result is a hedonic pricing model to define the attributes that explain, with a greater degree of significance, the change in land value. All this contributes to the implementation of a land policy

Estimating the Foreclosure Discount in Financially Distressed Hotels

2020 ◽  
pp. 193896552092965
Author(s):  
Amrik Singh
Keyword(s):  
Real Estate ◽  
Financial Distress ◽  
Hedonic Pricing ◽  
Pricing Model ◽  
Hedonic Pricing Model ◽  
Short Sale ◽  
Transaction Prices ◽  
Negative Effect ◽  
Financially Distressed

This study investigates the magnitude of the distress sale and foreclosure sale discount in financially distressed hotels by determining the influence of financial distress conditions on hotel transaction prices. Using a hedonic pricing model and a sample of 6,340 distressed and non-distressed transaction prices from 2008 to 2016, the study’s results show a significantly negative effect of financial distress on the pricing of distressed hotels. In particular, the estimated discount is 33% for an auction/trustee sale, 30% for a short sale, 42% for a foreclosure sale, and 44% for a real estate owned (REO) sale, all relative to non-distressed normal market sales.

scholarly journals The Impact of Subway Lines on Residential Property Values in Tianjin: An Empirical Study Based on Hedonic Pricing Model

2016 ◽  
Vol 2016 ◽  
pp. 1-10 ◽  
Author(s):  
Hui Sun ◽  
Yuning Wang ◽  
Qingbo Li
Keyword(s):  
Real Estate ◽  
Property Values ◽  
Northern China ◽  
Hedonic Pricing ◽  
Urban Traffic ◽  
Pricing Model ◽  
Land Rent ◽  
Hedonic Pricing Model ◽  
Real Estate Prices ◽  
The Impact

The construction of subways has an external impact on the urban environment. Among them, the most important acceleration function lies in the property values of housing near subway stations. Tianjin, the largest open coastal city in Northern China, is selected as the subject of the research in this paper by virtue of its unique background. The Hedonic Pricing Model is used in analysing the change in the value of the properties located within 1,000 metres of completed subway line 3 stations. Using the theories of land rent and land location, and a model of the impact of urban traffic on the surrounding real estate prices, we analyse the sphere of influence of Tianjin Metro Line 3 on real estate prices. Finally, the paper stresses the importance of urban construction and subway building and finds that different development strategies should be used according to the characteristics of the subway in various regions of the city.

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