Empirical Modeling of the Relative Impacts of Various Sizes of Shopping Centers on the Values of Surrounding Residential Properties

R. Sirpal
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R. Sirpal: Fellow School of Building and Estate Management National University of Singapore Singapore, 0511, http://www.nus.edu.sg/

Journal of Real Estate Research, 1994, vol. 9, issue 4, pages 487-506

Abstract: This paper examines price differences of identical residential properties located around shopping centers of different sizes. Various models are tested for this purpose. The size of a shopping center is found to have a positive contributory effect on the values of surrounding residential properties as the variable "size of a shopping center" is found to be positive and significant in all models. The results indicate that the value of a residential property at a radial distance from the outer periphery of a larger shopping center is higher as compared to that of an otherwise identical residential property located at the same radial distance from the outer periphery of a smaller shopping center.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1994
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