A Review of Recent Empirical Studies on Property Price Gradients

C Yiu and C Tam

Journal of Real Estate Literature, 2004, vol. 12, issue 3, 305-322

Abstract: This paper reviews the empirical studies that have been conducted on property price gradients. There are basically two different methodologies of estimation and three different assumptions on the spatial structure of an urban area. The two methods are: (1) the hedonic pricing model and (2) the repeat-sales model; and the three assumptions are: (1) the monocentric assumption; (2) the non-monocentric/polycentric assumption; and (3) no a priori assumption about the urban spatial structure. The methodologies and the findings of these previous studies are compared and analyzed to clarify the path for further studies.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:taf:rjelxx:v:12:y:2004:i:3:p:305-322

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DOI: 10.1080/10835547.2004.12090146

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