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Analysing the local geography of the relationship between residential property prices and its determinants

Analysing the local geography of the relationship between residential property prices and its... Abstract This paper analyses the local geography of the relationship between residential property prices and its determinants. A semiparametric geographically weighted regression (S-GWR) technique is employed to explore this relationship. Selling prices, structural and locational attributes data were collected from the database of the Department of Valuation and Services of Malaysia, selected maps and reports. The outcome of this paper shows a strong geographically varying relationship between residential property prices and its determinants in which the residential property price determinants have a positive impact on prices in some areas but negative or no impact on the others. The magnitude of the effect is also found to be geographically varied; the capitalisation in residential property prices is found greater in some areas but less or with no effect in some other parts of the areas. The use of S-GWR technique makes it possible to reveal such geographically varying relationships, thus leading to a better understanding of the relationship between residential property prices and its determinants. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Bulletin of Geography. Socio-economic Series de Gruyter

Analysing the local geography of the relationship between residential property prices and its determinants

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Publisher
de Gruyter
Copyright
Copyright © 2015 by the
ISSN
2083-8298
eISSN
1732-4254
DOI
10.1515/bog-2015-0013
Publisher site
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Abstract

Abstract This paper analyses the local geography of the relationship between residential property prices and its determinants. A semiparametric geographically weighted regression (S-GWR) technique is employed to explore this relationship. Selling prices, structural and locational attributes data were collected from the database of the Department of Valuation and Services of Malaysia, selected maps and reports. The outcome of this paper shows a strong geographically varying relationship between residential property prices and its determinants in which the residential property price determinants have a positive impact on prices in some areas but negative or no impact on the others. The magnitude of the effect is also found to be geographically varied; the capitalisation in residential property prices is found greater in some areas but less or with no effect in some other parts of the areas. The use of S-GWR technique makes it possible to reveal such geographically varying relationships, thus leading to a better understanding of the relationship between residential property prices and its determinants.

Journal

Bulletin of Geography. Socio-economic Series – de Gruyter

Published: Jun 1, 2015

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