Determinants of Real Estate Prices in the Statutory City of Brno

Vlastimil Reichel and Petr Zimčík
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Vlastimil Reichel: Masaryk University - Department of Economics, Lipová 41a, Brno, Czech Republic
Petr Zimčík: Masaryk University - Department of Economics, Lipová 41a, Brno, Czech Republic

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2018, vol. 66, issue 4, 991-999

Abstract: The real estate market demand for both-houses and flats has been growing recently. This trend is one of the factors, which are able to influence the price of real estate. Our paper introduces determinants of housing price and their influence on actual real estate prices in the statutory city of Brno. The aim of this paper is to present key determinants of house price and find the hedonic price model, which describes, how determinants affect house price best. Realized prices were analyzed for housing units located in different districts of Brno. Key determinants in this research are a year of sale, an area of flat in square meters, number of rooms, location in districts of Brno, type of masonry and reconstruction. The dataset covers the time period between years 2012 and 2015. Hedonic price model is estimated by the method of ordinary least square. Besides main aim, four assumptions were verified, which should determine the influence on the price of individual determinants in the statutory city of Brno.

Keywords: hedonic price model; price determinants; real estate market (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:mup:actaun:actaun_2018066040991

DOI: 10.11118/actaun201866040991

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