Demographic Changes and Real Estate Values. A Quantitative Model for Analyzing the Urban-Rural Linkages

Massimiliano Bencardino and Antonio Nesticò
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Massimiliano Bencardino: Department of Political, Social and Communication Sciences, University of Salerno, Via Giovanni Paolo II, 132, 84084 Fisciano (SA), Italy
Antonio Nesticò: Department of Civil Engineering, University of Salerno, Via Giovanni Paolo II, 132, 84084 Fisciano (SA), Italy

Sustainability, 2017, vol. 9, issue 4, 1-14

Abstract: Vast metropolitan areas include both urban areas and rural outskirts. Between these areas, there are strong links to the point which they cannot be examined separately. There is a contemporary presence of residential function and working activity in the rural outskirts, as well as in the typical sector of agriculture. Therefore, the production of goods and services for the city requires a combined analysis, due to the large territory which it has to consider. The evolution of the population of such a large territory can be studied in great detail, with reference to the single census area and with the use of Geographic Information Systems (GIS). This means that such a demographic development produces an effect on the values of the urban real estate. This work demonstrates the existing interconnections between urban areas and rural outskirts. Data collection on trends of the population living in the Naples metropolitan area and the house prices associated with this area, and the post spatial processing of such data, allows for the establishment of thematic maps according to which a model capable of interpreting the population development is defined. A study of the statistical correlations shows the consequences that the population dynamics produce for property prices. In addition, the diachronic analysis of the sales prices of residential buildings demonstrates that economic functions, exclusive of certain urban or rural territories, end up distributing and integrating.

Keywords: urban areas; rural outskirts; demographic dynamics; urban real estate values; territorial planning; Geographic Information Systems; urban growth models (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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