Modeling Spatial Variation of Housing Prices in Tehran (Zone8)

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MoniriJavid, Salimeh | 2010

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Type of Document: M.Sc. Thesis
Language: Farsi
Document No: 40714 (44)
University: Sharif University of Technology
Department: Management and Economics
Advisor(s): Souri, Davood
Abstract:
This study estimates a hedonic model for the price of housing in the city of Tehran. Using 1340 observations from the eighth region of the city as a sample and applying geographically weighted regression, the study shows that hedonic price function regardless of space variation in house price, leads to spatial autocorrelation in the error term of the model. Thus geographically weighted regression method can deal with this problem and is able to explain more than 76% of the variation in housing prices. Additionally, almost all three structural (floor area, kind of housing appearance and type of houses), environmental (distance from nearest hospital, park, school, health club and mosque) and space (longitude and latitude) variables affect housing price and the influence of each variable are significantly different in various places
Keywords:
Housing Market ; Spatial Econometrics ; Geographically Wieghted Regression ; Hedonic Price Function

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