Housing Vulnerability and Property Prices: Spatial Analyses in the Turin Real Estate Market

Alice Barreca, Rocco Curto and Diana Rolando
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Alice Barreca: Architecture and Design Department, Politecnico di Torino, Castello del Valentino, Viale Mattioli 39, 10125 Torino, Italy
Rocco Curto: Architecture and Design Department, Politecnico di Torino, Castello del Valentino, Viale Mattioli 39, 10125 Torino, Italy
Diana Rolando: Architecture and Design Department, Politecnico di Torino, Castello del Valentino, Viale Mattioli 39, 10125 Torino, Italy

Sustainability, 2018, vol. 10, issue 9, 1-20

Abstract: In the literature, several vulnerability/resilience indicators and indexes are based and assessed by taking into account and combining different dimensions. Housing vulnerability is one of these dimensions and is strictly related to the buildings’ physical features and to the socio-economic condition of their occupants. This research aims to study housing vulnerability in relation to the real estate market by identifying possible indicators and spatially analyzing their influence on property prices. Assuming the city of Turin and its territorial segmentation as a case study, spatial analyses were performed to take into account the presence of spatial dependence and to identify the variables that significantly influence the process of property price determination. The results of this study highlighted the fact that two housing vulnerability indicators, representative of fragile buildings’ physical features, were spatially correlated with property prices and had a significant and negative influence on them. In addition, their comparison with two social vulnerability indicators demonstrated that the presence of economical buildings and council houses was spatially correlated with the presence of people with a low education level. The results of the spatial regression model also confirmed that one of the social vulnerability indicators had the highest and most negative explanatory power in the property price determination process.

Keywords: housing vulnerability; property prices; local indicator of spatial association (LISA); spatial regression; Torino (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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