The House Price Gradient: Evidence from Italian Cities
Elisabetta Manzoli () and
Sauro Mocetti ()
Additional contact information
Elisabetta Manzoli: Bank of Italy
Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, 2019, vol. 5, issue 2, No 5, 305 pages
Abstract The paper examines the geographical variability in house prices, focusing on the gradient from the center to peripheral areas. Our results show large price differentials within the main urban areas, even larger than those observed between the Center-North and South of Italy. The higher real estate prices in the centers of urban areas are affected by centripetal pressures from the demand side, to which supply only partially adjusts. We find that better infrastructure and lower commuting times can, however, mitigate the centripetal pressure on the demand side and flatten the gradient. Finally, we also find a center-periphery gradient for incomes ; however the latter is less steep than that of house prices, thus indicating that the ratio between the value of houses and income is higher in the city center and lower in the periphery.
Keywords: House price; Center-periphery gradient; Agglomeration; Commuting time; Income (search for similar items in EconPapers)
JEL-codes: R30 R14 R41 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s40797-019-00094-z Abstract (text/html)
Access to the full text of the articles in this series is restricted.
Working Paper: The house price gradient: evidence from Italian cities (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:italej:v:5:y:2019:i:2:d:10.1007_s40797-019-00094-z
Ordering information: This journal article can be ordered from
Access Statistics for this article
Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti is currently edited by Roberto Cellini
More articles in Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti from Springer, Società Italiana degli Economisti (Italian Economic Association) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().