“Location, Location, Location”: Fluctuations in Real Estate Market Values after COVID-19 and the War in Ukraine Based on Econometric and Spatial Analysis, Random Forest, and Multivariate Regression

Laura Gabrielli (), Aurora Greta Ruggeri and Massimiliano Scarpa
Additional contact information
Laura Gabrielli: Department of Architecture and Arts, University IUAV of Venice, Dorsoduro 2206, 30123 Venice, Italy
Aurora Greta Ruggeri: Department of Architecture and Arts, University IUAV of Venice, Dorsoduro 2206, 30123 Venice, Italy
Massimiliano Scarpa: Department of Architecture and Arts, University IUAV of Venice, Dorsoduro 2206, 30123 Venice, Italy

Land, 2023, vol. 12, issue 6, 1-23

Abstract: In this research, the authors aim to detect the marginal appreciation of construction and neighbourhood characteristics of property prices at three different time points: before the COVID-19 pandemic, two years after the first COVID-19 alert but before the War in Ukraine, and one year after the outbreak of the War. The marginal appreciations of the building’s features are analysed for a pilot case study in Northern Italy using a Random Forest feature importance analysis and a Multivariate Regression. Several techniques are integrated into this study, such as computer programming in Python language, multi-parametric value assessment techniques, feature selection procedures, and spatial analysis. The results may represent an interesting ongoing monitoring of how these anomalous events affect the buyer’s willingness to pay for specific characteristics of the buildings, with particular attention to the location features of the neighbourhood and accessibility.

Keywords: market value; value assessment; multiple regression; location; fixed effects; computer programming; random forest; diachronic analysis (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2073-445X/12/6/1248/pdf (application/pdf)
https://www.mdpi.com/2073-445X/12/6/1248/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jlands:v:12:y:2023:i:6:p:1248-:d:1174030

Access Statistics for this article

Land is currently edited by Ms. Carol Ma

More articles in Land from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().