IDEAS home Printed from https://ideas.repec.org/p/luk/wpaper/8632.html
   My bibliography  Save this paper

Spatial Regression Analysis of Commercial Land Price Gradients

Author

Listed:
  • David Dale-Johnson
  • W. Jan Brzeski

Abstract

Commercial land price gradients for an emerging real estate market are estimated using spatial regression techniques. Spatial statistics are used to explore the extent of spatial autocorrelation in the residuals of an OLS land price gradient model. Spatial autocorrelation is present but not to the same degree for all time periods or commercial land uses. Maximum likelihood estimates of land price gradients are as one would expect in mature real estate markets.

Suggested Citation

  • David Dale-Johnson & W. Jan Brzeski, 2001. "Spatial Regression Analysis of Commercial Land Price Gradients," Working Paper 8632, USC Lusk Center for Real Estate.
    • Handle: RePEc:luk:wpaper:8632
    as

    Download full text from publisher

    File URL: http://lusk.usc.edu/sites/default/files/working_papers/wp_2001-1008.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Can, Ayse, 1992. "Specification and estimation of hedonic housing price models," Regional Science and Urban Economics, Elsevier, vol. 22(3), pages 453-474, September.
    2. Dubin, Robin A., 1998. "Spatial Autocorrelation: A Primer," Journal of Housing Economics, Elsevier, vol. 7(4), pages 304-327, December.
    3. Basu, Sabyasachi & Thibodeau, Thomas G, 1998. "Analysis of Spatial Autocorrelation in House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 17(1), pages 61-85, July.
    4. E Heikkila & P Gordon & J I Kim & R B Peiser & H W Richardson & D Dale-Johnson, 1989. "What Happened to the CBD-Distance Gradient?: Land Values in a Policentric City," Environment and Planning A, , vol. 21(2), pages 221-232, February.
    5. Bertaud, Alain & Renaud, Bertrand, 1997. "Socialist Cities without Land Markets," Journal of Urban Economics, Elsevier, vol. 41(1), pages 137-151, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kerasia Milaka & Yorgos Photis, 2004. "Defining a geographically weighted regression model of urban evolution. Application to the city of Volos, Greece," ERSA conference papers ersa04p507, European Regional Science Association.
    2. Rui Wang, 2009. "The Structure of Chinese Urban Land Prices: Estimates from Benchmark Land Price Data," The Journal of Real Estate Finance and Economics, Springer, vol. 39(1), pages 24-38, July.

    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. David Maddison, 2009. "A Spatio‐temporal Model of Farmland Values," Journal of Agricultural Economics, Wiley Blackwell, vol. 60(1), pages 171-189, February.
    2. Dubé, Jean & Legros, Diègo & Devaux, Nicolas, 2018. "From bus to tramway: Is there an economic impact of substituting a rapid mass transit system? An empirical investigation accounting for anticipation effect," Transportation Research Part A: Policy and Practice, Elsevier, vol. 110(C), pages 73-87.
    3. Antonio Páez & Fei Long & Steven Farber, 2008. "Moving Window Approaches for Hedonic Price Estimation: An Empirical Comparison of Modelling Techniques," Urban Studies, Urban Studies Journal Limited, vol. 45(8), pages 1565-1581, July.
    4. Xiaolong Liu, 2013. "Spatial and Temporal Dependence in House Price Prediction," The Journal of Real Estate Finance and Economics, Springer, vol. 47(2), pages 341-369, August.
    5. Helen R. Neill & David M. Hassenzahl & Djeto D. Assane, 2007. "Estimating the Effect of Air Quality: Spatial versus Traditional Hedonic Price Models," Southern Economic Journal, John Wiley & Sons, vol. 73(4), pages 1088-1111, April.
    6. Kiefer, Hua, 2011. "The house price determination process: Rational expectations with a spatial context," Journal of Housing Economics, Elsevier, vol. 20(4), pages 249-266.
    7. Are Oust & Simen N. Hansen & Tobias R. Pettrem, 2020. "Combining Property Price Predictions from Repeat Sales and Spatially Enhanced Hedonic Regressions," The Journal of Real Estate Finance and Economics, Springer, vol. 61(2), pages 183-207, August.
    8. Bello Musa Zango & Sanni Mohammed Lekan & Mohammed Jibrin Katun, 2020. "Conventional Methods in Housing Market Analysis: A Review of Literature," Baltic Journal of Real Estate Economics and Construction Management, Sciendo, vol. 8(1), pages 227-241, January.
    9. Juergen Deppner & Marcelo Cajias, 2024. "Accounting for Spatial Autocorrelation in Algorithm-Driven Hedonic Models: A Spatial Cross-Validation Approach," The Journal of Real Estate Finance and Economics, Springer, vol. 68(2), pages 235-273, February.
    10. Orçun Moralı & Neslihan Yılmaz, 2022. "An Analysis of Spatial Dependence in Real Estate Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 64(1), pages 93-115, January.
    11. Raymond Y. C. Tse, 2002. "Estimating Neighbourhood Effects in House Prices: Towards a New Hedonic Model Approach," Urban Studies, Urban Studies Journal Limited, vol. 39(7), pages 1165-1180, June.
    12. Füss, Roland & Koller, Jan A., 2016. "The role of spatial and temporal structure for residential rent predictions," International Journal of Forecasting, Elsevier, vol. 32(4), pages 1352-1368.
    13. Delores Conway & Christina Li & Jennifer Wolch & Christopher Kahle & Michael Jerrett, 2010. "A Spatial Autocorrelation Approach for Examining the Effects of Urban Greenspace on Residential Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 41(2), pages 150-169, August.
    14. Steven Bourassa & Eva Cantoni & Martin Hoesli, 2007. "Spatial Dependence, Housing Submarkets, and House Price Prediction," The Journal of Real Estate Finance and Economics, Springer, vol. 35(2), pages 143-160, August.
    15. Mustafa Kahveci & Ernil Sabaj, 2017. "Determinant of Housing Rents in Urban Albania: An Empirical Hedonic Price Application with NSA Survey Data," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 5(2), pages 51-65.
    16. Dubé, Jean & Andrianary, Eugénie & Assad-Déry, François & Poupart, Janie & Simard, Justine, 2018. "Exploring difference in value uplift resulting from new bus rapid transit routes within a medium size metropolitan area," Journal of Transport Geography, Elsevier, vol. 72(C), pages 258-269.
    17. Jeffrey P. Cohen & Cletus C. Coughlin, 2008. "Spatial Hedonic Models Of Airport Noise, Proximity, And Housing Prices," Journal of Regional Science, Wiley Blackwell, vol. 48(5), pages 859-878, December.
    18. Seong-Hoon Cho & Dayton Lambert & Seung Kim & Roland Roberts & William Park, 2011. "Relationship between value of open space and distance from housing locations within a community," Journal of Geographical Systems, Springer, vol. 13(4), pages 393-414, December.
    19. 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.
    20. Xia Feng & Brad R. Humphreys, 2008. "Assessing the Economic Impact of Sports Facilities on Residential Property Values: A Spatial Hedonic Approach," Working Papers 0812, International Association of Sports Economists;North American Association of Sports Economists.

    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:luk:wpaper:8632. 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: Chris Steins (email available below). General contact details of provider: https://edirc.repec.org/data/lcuscus.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.