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Location Value Signature and Spatial Externalities in an Urban Environment

Location Value Signature and Spatial Externalities in an Urban Environment
Author: Zhuojie Huang
Publisher:
Total Pages:
Release: 2009
Genre:
ISBN:

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ABSTRACT: This research reviews the sub-station concept in the real estate literature and attempts to decompose real estate submarkets in two dimensions: the structure submarket and the spatial submarket. Various multivariate statistic techniques are used to test the validity of this subdivision. We find out that although there are many statistical methods to define a submarket, there is still a substantial gap for linking the spatial aspects of the problem with patterns of valuation as they relate to the process of urban change and development, structural attributes, and the local context in which individual properties are affected or unaffected by that change. It is proposed that each location within the urban system has a unique location value signature (or LVS), and that LVS could reflect the total or composite externality effect on the selling price or market value of a house at that location. By analyzing the means within or between different structural and spatial submarkets, the LVS could be presented as a variable surface within the urban housing market. The object of this study is not only to present a model for the estimation of housing values (a hedonic price valuation model), but to integrate a strategy to model trends in real estate submarkets to local and city-wide trends (including infrastructure development).


The Isolated City State

The Isolated City State
Author: Y. Y. Papageorgiou
Publisher: Taylor & Francis
Total Pages: 466
Release: 1990
Genre: Social Science
ISBN: 9780415030328

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Convergence Clubs and Spatial Externalities

Convergence Clubs and Spatial Externalities
Author: Stilianos Alexiadis
Publisher: Springer Science & Business Media
Total Pages: 254
Release: 2012-09-24
Genre: Business & Economics
ISBN: 3642316263

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Do dynamic externalities, in the form of technology creation, adoption and spatial agglomeration shape the pattern of regional growth in Europe? This study provides an alternative view on regional convergence. A model is developed which attributes club-convergence to existing differences with respect to the degree of technology adoption. In the first instance, empirical results suggest that the NUTS-2 regions of the EU-27 converge at a very slow rate. Further tests, however, indicate that convergence is restricted to a specific subset of regions. Such conclusions are tested further, using an alternative model of club-convergence, which incorporates the impact of spatial interaction, agglomeration externalities and technology. This shows that the convergence-club in Europe follows a certain geographical pattern and all members share similar characteristics regarding technology creation and adoption, and agglomeration externalities. ​


Urban Growth and Innovation

Urban Growth and Innovation
Author: Frank G. van Oort
Publisher: Routledge
Total Pages: 285
Release: 2017-11-22
Genre: Science
ISBN: 1351143638

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Knowledge externalities - i.e. intellectual gains made by exchange of information for which no direct compensation is given to the producer of the knowledge - result in higher economic growth rates across urban areas, as well as higher degrees of innovation intensity in those locations where economic activity is dense. By combining theories and methodologies on localised growth and innovation density from the fields of geography and economics, he puts forward an innovative spatial econometric model which contributes to a clearer understanding of actual processes of growth and innovation and their linkages to industry and spatially determined agglomeration factors. In doing so, the book acknowledges the increasing importance of geographical composition and distance for the transmission of knowledge and skills in a society in which information becomes easier to access.


Urban Morphology and Housing Market

Urban Morphology and Housing Market
Author: Yang Xiao
Publisher: Springer
Total Pages: 199
Release: 2016-11-21
Genre: Political Science
ISBN: 9811027625

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This book is devoted to fill the ‘urban economics niche’ and conceptualize a framework for valuing the urban configuration via local housing market. Advanced network analysis techniques are employed to capture the centrality features hindered in street layout. The author explores the several effects of urban morphology via housing market over two distinct contexts: UK and China. This work will appeal to a wide readership from scholars and practitioner to policy makers within the fields of real estate analysis, urban and regional studies, urban planning, urban design and economic geography.


The New Urban Economics

The New Urban Economics
Author: H.W. Richardson
Publisher: Routledge
Total Pages: 236
Release: 2013-04-15
Genre: Architecture
ISBN: 1135683115

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This book was first published in 1977. Urban economics is a relatively young field of economics; hardly existing except perhaps in real estate and land economics curricula-before the 1960s. Within the last few years, especially after 1 971, there has been a growth of interest in urban economic theory, strong enough even to attract the attention of general economic theorists. These new theoretical writings have been named the 'New Urban Economics'-NUE for short. The aim of this monograph is to survey and assess NUE, to evaluate its contribution to urban economics, to offer a few extensions and to say something about the future direction of the subfield.


Valuing the Built Environment

Valuing the Built Environment
Author: Scott Orford
Publisher: Routledge
Total Pages: 232
Release: 2017-09-08
Genre: Science
ISBN: 1351876147

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This book critically assesses the hedonic pricing technique as a method of imputing monetary values for the implicit attributes of housing. The hedonic technique is widely used, particularly in the US, but increasingly in Europe and Asia and has proved to yield important results and influence cost-benefit analysis. Scott Orford breaks new ground in this volume by exploring hedonic house price models within a geographical rather than purely economic context. He reevaluates the microeconomic theory of housing markets and concludes that only by treating housing market dynamics as inherently spatial can empirical results conform to the theory that underpins them. He also makes conclusions with respect to locational externalities, which have important implications as to how the built environment is valued.


Routledge Companion to Real Estate Development

Routledge Companion to Real Estate Development
Author: Graham Squires
Publisher: Routledge
Total Pages: 536
Release: 2017-09-07
Genre: Business & Economics
ISBN: 1317428447

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Real estate development shapes the way people live and work, playing a crucial role in determining our built environment. Around the world, real estate development reflects both universal human needs and region-specific requirements, and with the rise of globalization there is an increasing need to better understand the full complexity of global real estate development. This Companion provides comprehensive coverage of the major contemporary themes and issues in the field of real estate development research. Topics covered include: social and spatial impact markets and economics organization and management finance and investment environment and sustainability design land use policy and governance. A team of international experts across the fields of real estate, planning, geography, economics and architecture reflect the increasingly interdisciplinary nature of real estate studies, providing the book with a depth and breadth of original research. Following on from the success of the textbook International Approaches to Real Estate Development, the Routledge Companion to Real Estate Development provides the up-to-date research needed for a full and sophisticated understanding of the subject. It will be an invaluable resource to students, researchers and professionals wishing to study real estate development on an international scale.