IDEAS home Printed from https://ideas.repec.org/p/lre/wpaper/lares_2017_paper_96.html
   My bibliography  Save this paper

Identifying Residential Sub-Markets Using Intraurban Migrations: The Case Of Study Of Barcelona’S Neighborhoods

Author

Listed:
  • Carlos González
  • Carlos Marmolejo

Abstract

The dynamic evolution of the real estate market, as well as the sophistications of the interactions of the actors involved in it have caused that, contrary to classical economic theory, the real estate market is increasingly being thought of as a set of submarkets. This is because, among other things, the modeling of a segmented housing market allows, on the one hand, to design housing policies that are better adapted to the needs of the population, but on the other hand, it allows the generation of both marketing and supply strategies Oriented to specific population sectors. Such strategies in theory should behave as options with relatively low uncertainty, thus representing an attractive offer to all market players. However, in praxis, the segmentation of the real estate market is usually modeled on the offer. It is therefore that this paper proposes a modeling from observed preferences3 seen through intraurban migrations. In particular, it is proposed to model the market through the interaction value of Coombes, scaling the results in order to visualize the resulting submarket structure from the construction of a PAM (Partitioning Algorithm Medoids).

Suggested Citation

  • Carlos González & Carlos Marmolejo, 2017. "Identifying Residential Sub-Markets Using Intraurban Migrations: The Case Of Study Of Barcelona’S Neighborhoods," LARES lares_2017_paper_96, Latin American Real Estate Society (LARES).
    • Handle: RePEc:lre:wpaper:lares_2017_paper_96
    as

    Download full text from publisher

    File URL: https://lares.architexturez.net/doc/lares-2017-paper-96
    Download Restriction: no
    File URL: https://lares.architexturez.net/system/files/LARES_2017_Paper_96.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Steven C. Bourassa & Eva Cantoni & Martin Hoesli, 2005. "Spatial Dependence, Housing Submarkets, and House Prices," FAME Research Paper Series rp151, International Center for Financial Asset Management and Engineering.
    2. Mahlon R. Straszheim, 1975. "An Econometric Analysis of the Urban Housing Market," NBER Books, National Bureau of Economic Research, Inc, number stra75-1.
    3. David Meen & Geoffrey Meen, 2003. "Social Behaviour as a Basis for Modelling the Urban Housing Market: A Review," Urban Studies, Urban Studies Journal Limited, vol. 40(5-6), pages 917-935, May.
    4. W.A.V. Clark & Jun L. Onaka, 1983. "Life Cycle and Housing Adjustment as Explanations of Residential Mobility," Urban Studies, Urban Studies Journal Limited, vol. 20(1), pages 47-57, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Elif Alkay, 2008. "Housing Submarkets in Istanbul," International Real Estate Review, Global Social Science Institute, vol. 11(1), pages 113-127.
    2. Stefan Sebastian Fahrländer, 2006. "Semiparametric Construction of Spatial Generalized Hedonic Models for Private Properties," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 142(IV), pages 501-528, December.
    3. Cecilia Öst, 2012. "Housing and children: simultaneous decisions?—a cohort study of young adults’ housing and family formation decision," Journal of Population Economics, Springer;European Society for Population Economics, vol. 25(1), pages 349-366, January.
    4. Ballesteros, Marife M., 2001. "The Dynamics of Housing Demand in the Philippines: Income and Lifecycle Effects," Discussion Papers DP 2001-15, Philippine Institute for Development Studies.
    5. Mi Diao & Yi Fan & Tien Foo Sing, 2018. "Demand restrictions; government interventions; resale public housing market; private housing market; housing wealth," ERES eres2018_32, European Real Estate Society (ERES).
    6. Dennis W. Draper & M. Chapman Findlay, 1982. "Capital Asset Pricing and Real Estate Valuation," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 10(2), pages 152-183, June.
    7. Matthew Desmond & Tracey Shollenberger, 2015. "Forced Displacement From Rental Housing: Prevalence and Neighborhood Consequences," Demography, Springer;Population Association of America (PAA), vol. 52(5), pages 1751-1772, October.
    8. Hao Wu & Hongzan Jiao & Yang Yu & Zhigang Li & Zhenghong Peng & Lingbo Liu & Zheng Zeng, 2018. "Influence Factors and Regression Model of Urban Housing Prices Based on Internet Open Access Data," Sustainability, MDPI, vol. 10(5), pages 1-17, May.
    9. Chris Leishman & Greg Costello & Steven Rowley & Craig Watkins, 2013. "The Predictive Performance of Multilevel Models of Housing Sub-markets: A Comparative Analysis," Urban Studies, Urban Studies Journal Limited, vol. 50(6), pages 1201-1220, May.
    10. Eilers, Lea, 2016. "Spatial Dependence in Apartment Offering Prices in Hamburg," VfS Annual Conference 2016 (Augsburg): Demographic Change 145639, Verein für Socialpolitik / German Economic Association.
    11. Tom Kauko, 2013. "A Demonstration of Sustainability Arguments Using House Price Data," ERES eres2013_146, European Real Estate Society (ERES).
    12. Colin Jones & Mike Coombes & Neil Dunse & David Watkins & Colin Wymer, 2012. "Tiered Housing Markets and their Relationship to Labour Market Areas," Urban Studies, Urban Studies Journal Limited, vol. 49(12), pages 2633-2650, September.
    13. David C. Wheeler & Antonio Páez & Jamie Spinney & Lance A. Waller, 2014. "A Bayesian approach to hedonic price analysis," Papers in Regional Science, Wiley Blackwell, vol. 93(3), pages 663-683, August.
    14. Craig A Watkins, 2001. "The Definition and Identification of Housing Submarkets," Environment and Planning A, , vol. 33(12), pages 2235-2253, December.
    15. Duncan Maclennan, 1977. "Some Thoughts on the Nature and Purpose of House Price Studies," Urban Studies, Urban Studies Journal Limited, vol. 14(1), pages 59-71, February.
    16. A. Thomas King, 1976. "The Demand for Housing: Integrating the Roles of Journey-to-Work, Neighborhood Quality, and Prices," NBER Chapters, in: Household Production and Consumption, pages 451-488, National Bureau of Economic Research, Inc.
    17. Ricardo Hurtubia & Michel Bierlaire, 2014. "Estimation of Bid Functions for Location Choice and Price Modeling with a Latent Variable Approach," Networks and Spatial Economics, Springer, vol. 14(1), pages 47-65, March.
    18. Susan J. Smith & Moira Munro & Hazel Christie, 2006. "Performing (Housing) Markets," Urban Studies, Urban Studies Journal Limited, vol. 43(1), pages 81-98, January.
    19. Erlingsson, Einar Jon & Teglio, Andrea & Cincotti, Silvano & Stefansson, Hlynur & Sturlusson, Jon Thor & Raberto, Marco, 2014. "Housing market bubbles and business cycles in an agent-based credit economy," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-42.
    20. George Galster & Jackie Cutsinger & Up Lim, 2007. "Are Neighbourhoods Self-stabilising? Exploring Endogenous Dynamics," Urban Studies, Urban Studies Journal Limited, vol. 44(1), pages 167-185, January.

    More about this item

    Keywords

    Barcelona; dimensional scaling; interaction value; PAM; Submarket;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lre:wpaper:lares_2017_paper_96. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Architexturez Imprints (email available below). General contact details of provider: https://edirc.repec.org/data/laresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.