The spatial dimension of the French private rental markets: Evidence from microgeographic data in 2015

Kassoum Ayouba, Marie-Laure Breuillé, Camille Grivault and Julie Le Gallo

Environment and Planning B, 2021, vol. 48, issue 8, 2497-2513

Abstract: This article draws on data collected by local rental observatories in 12 French urban units in 2015 to analyze the spatial dimension of hedonic rental prices in the private rental market through (i) the spatial heterogeneity between urban units and (ii) the wide variety of contextual and locational characteristics (socio-economic, environmental (dis)amenity, and accessibility) and flexible specifications to capture their potential non-linear influence on rent. Based on a joint test of equality of coefficients across all urban units, we find that hedonic prices differ for 75% of the characteristics, thereby justifying a detailed analysis of heterogeneity. Lyon, Nice, and Paris taken individually are the urban units with the most specific valuations of housing characteristics and socio-economic characteristics. Our analysis reveals that housing characteristics, median income, and distance to the center are clearly the variables with the most heterogeneous effects on hedonic prices.

Keywords: Private rental markets; hedonic models; spatial heterogeneity (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envirb:v:48:y:2021:i:8:p:2497-2513

DOI: 10.1177/2399808320977877

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