This article investigates the determinants of the willingness to pay (WTP) of industrial firms and the sales price of public companies for industrial parks, and the gap between the two. Testing the model reveals two important differences between
firms’ WTP and sales price. First, the sale price is decided in order to cover the development cost since only the sale price is influenced by the average land price of each region while WTP is not. Secondly, the current demand of the industrial sector
is insufficiently represented in the sales price; this is because firms’ WTP is significantly more sensitive than suppliers’ sales prices in terms of accessibility to both large and small cities and agglomeration economies.
The distribution of London residential property prices and the role of spatial lock-in
on modern house prices. These include 19th-century social structures, slum clearance programmes and the 1908 underground network. Each is found to be significant. The tests require the construction of novel historical datasets, which are also described
Does the housing market reflect cultural heritage? We estimate several specifications of a hedonic price equation to establish whether distance to, and density of, cultural heritage site is capitalised into housing prices in Greater Dublin, Ireland
. Our results show that some types of cultural heritage sites, such as historic buildings, memorials, and Martello towers, provide positive spillovers to property prices while archaeological sites seem to be a negative amenity. We interpret
This paper tests the hypothesis that the driving factors of built intensity in rural villages in Shenzenare analogous to factors that drive land prices in the formal city. Results of multivariate regression models of the built intensity of urban
villages across the city show a remarkable resemblance to hedonic models of land prices elsewhere. Location matters and access to employment, along with development constraints,are the most important determinants for the development of Shenzhen’s urban
Accessibility ; Hong Kong ; Housing ; Housing cost ; Kaohsiung ; Land value ; Metropolitan area ; Premium price ; Proximity ; Taipei ; Taiwan ; Transport ; Urban transport
This paper looks at the effect of transit station accessibility on housing prices in these three cities, which are all located on the south-eastern edge of the Greater China region. The key finding is that accessibility impacts stand in an inverse
relationship to the size and popularity of the transit system. The results illustrate how intraregional variability in overall transit accessibility declines with increases in the spatial coverage of transit systems. The price premium for housing near transit
If we build it, will they pay ? Predicting price effects of transport innovations
England ; Forecast ; Gravity model ; Greater London ; Hedonistic model ; Housing cost ; Induced effect ; Innovation ; Price fixing ; Real estate property ; Space time ; United Kingdom ; Urban area ; Urban transport
The capitalization of public services and amenities into land prices - Empirical evidence from German communities
Germany ; Hedonistic model ; Land ; Land value ; Local amenities ; Local government unit ; Locality ; Price fixing ; Public service ; Quality of life ; Saxony ; Spatial differentiation ; Spillover
Price and expenditure elasticities for fresh fruits in an urban food desert
Blacks ; Consumer behaviour ; Decayed neighbourhood ; Detroit city ; Food ; Food policy ; Fruit ; Michigan ; Price ; Quality of product ; Retail trade ; United States of America ; Urban economy
Gated communities and house prices : suburban change in Southern California, 1980-2008
California ; Gated community ; Housing ; Housing cost ; Housing estate ; Land value ; Los Angeles ; Price fixing ; Real estate market ; Suburbs ; United States of America ; Urban change