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Impact of the Apartment’s Window Exposure to World Directions on Transaction Price

Author

Listed:
  • Bas Marcin

    (University of Szczecin, Aleja Papieża Jana Pawła II 22A, 70-453 Szczecin, Poland)

Abstract

The purpose of the study is to econometrically estimate the effect of the direction of window exposure on the unit price of housing. The research hypothesis according to which the exposure of windows to the east increases the unit price of apartments is verified, and is based on observations of the market for units in buildings with exposure to two sides of the world (east and west). Research into the various characteristics that affect real estate prices is being conducted around the world. The main focus is on the impact of features which we are certain about, i.e. date, area, number of rooms, etc., i.e. non-contentious and reasonably easy to identify as to the condition of the feature. The results of the study are to capture certain regularities that will give a glimpse of how the exposure of the apartment’s windows to a given direction of the world affected prices. Through the implementation of the survey, it can be determined whether a particular side of the world is better perceived by buyers. The study was conducted on data 2015-2023 in one of Poland’s largest cities - Szczecin, where the exposure of the windows of the apartments was to the east or west.

Suggested Citation

  • Bas Marcin, 2024. "Impact of the Apartment’s Window Exposure to World Directions on Transaction Price," Real Estate Management and Valuation, Sciendo, vol. 32(4), pages 44-54.
    • Handle: RePEc:vrs:remava:v:32:y:2024:i:4:p:44-54:n:1004
    DOI: 10.2478/remav-2024-0034
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    References listed on IDEAS

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    1. Winky K.O. Ho & Bo-Sin Tang & Siu Wai Wong, 2021. "Predicting property prices with machine learning algorithms," Journal of Property Research, Taylor & Francis Journals, vol. 38(1), pages 48-70, January.
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    More about this item

    Keywords

    housing market; orientation; window view;
    All these keywords.

    JEL classification:

    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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