Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/190445 
Year of Publication: 
2016
Series/Report no.: 
IEHAS Discussion Papers No. MT-DP - 2016/21
Publisher: 
Hungarian Academy of Sciences, Institute of Economics, Budapest
Abstract (Translated): 
This paper analyses the factors affecting the price level of Hungarian residential real estate using individual sales data. We focus on the role of the location of the property. We show that geographical factors are relevant in explaining housing prices using traditional type groups constructed from mentioned factors. Our study makes two contributions. First, we find that every group of variables may be important in disentangling real estate prices; individual factors explain 2-5% of the variance of housing prices, while together they account for 15% of the variance. Second, our results imply that in estimating a hedonic model, in addition to agglomeration and income effects, geographical factors are essential to consider.
Subjects: 
housing
hedonic pricing
geographic factors
JEL: 
R30
R31
ISBN: 
978-615-5594-57-1
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.