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Land price polarization and dispersion in Tokyo: a spatial model approach

Author

Listed:
  • Yuta Kanno

    (Tokyo University of Science)

  • Takayuki Shiohama

    (Nanzan University)

Abstract

Intensifying spatial inequality in housing markets is of great concern for urban planners and policymakers. This study employed a year-on-year analysis using universal kriging to fit the official land price data in Tokyo over the period 1997–2021. By comparing estimated regression coefficients with the estimated spatial variogram parameters, we found evidence of rising spatial polarization and dispersion in land prices of Tokyo. This was confirmed via price differences between western and central Tokyo that are becoming larger with each passing year. The determinants of the land price have different impacts on prices in western and central Tokyo. As for the variogram parameter, the nugget effects of the residuals in spatial models are increasing for the non-central region and decreasing in central Tokyo, which indicates that the degree of spatial dispersion is increasing.

Suggested Citation

  • Yuta Kanno & Takayuki Shiohama, 2022. "Land price polarization and dispersion in Tokyo: a spatial model approach," Asia-Pacific Journal of Regional Science, Springer, vol. 6(2), pages 807-835, June.
    • Handle: RePEc:spr:apjors:v:6:y:2022:i:2:d:10.1007_s41685-021-00221-8
    DOI: 10.1007/s41685-021-00221-8
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    Cited by:

    1. Yiheng Zhu & Shan Yang & Jinping Lin & Shanggang Yin, 2022. "Spatial and Temporal Evolutionary Characteristics and Its Influencing Factors of Economic Spatial Polarization in the Yangtze River Delta Region," IJERPH, MDPI, vol. 19(12), pages 1-20, June.

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    More about this item

    Keywords

    Generalized least squares method; Land price dispersion; Spatial polarization; Spatial variogram; Tokyo land prices;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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