A Hedonic Urban Land Price Index

Brano Glumac, Marcos Herrera-Gómez and Julien Licheron

ERES from European Real Estate Society (ERES)

Abstract: Our objective is to collect a set of variables able to account for the effects of a multitude of land quality factors. In addition, surrounding plots and the natural and built environment might also influence urban land prices. However, most house price and land price indices do not control for any potentially related spatial effects. The urban land price index detailed here is based on land transaction prices for Luxembourg between 2010 and 2014 recorded in notarial deeds and cadastral data, together with geo-spatial characteristics. The proposed index includes many aspects in an initial hedonic and spatial model specification.

Keywords: Hedonic regression; Land Value; Luxembourg; Spatial Durbin error model (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2018-01-01
New Economics Papers: this item is included in nep-agr and nep-ure
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Citations: View citations in EconPapers (4)

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Journal Article: A hedonic urban land price index (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2018_149

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