Recent research in spatial real estate hedonic analysis

摘要

The analysis of real estate markets continues to be a prime area for the application and development of spatial analysis techniques. While spatial analytical approaches have become more widespread and accessible over the past decade to researchers and practitioners in a wide variety of disciplines (Paez et al. 2009), it is interesting to note that some early examples of the potential of both spatial econometric and geostatistical techniques include the analysis of property values reported in papers by Can (1992) and Dubin (1992). These early papers are notable because they demonstrated the use of different analytical approaches—spatially autoregressive models in the case of Can, and kriging in the case of Dubin. At the same time, they also identified a series of issues that stand at the cornerstone of spatial hedonic analysis. Of these issues, the identification of spatial autocorrelation and hetero geneity is a key, and these two effects have since been consistently found .in "other studies and with such frequency that it is no longer reasonable to dismiss them as statistical flukes or nuisances. On the contrary, while a strong economic theory of spatial externalities and segmentation in real estate markets has yet to be produced, a current consensus regarding the interpretation of spatial effects has already.