Determinants of housing price: data analysis of city Brno
| Authors | |
|---|---|
| Year of publication | 2016 |
| Type | Article in Proceedings |
| Conference | Hradecké ekonomické dny 2016 |
| MU Faculty or unit | |
| Citation | |
| Web | http://fim2.uhk.cz/hed/index.php?option=com_content&view=article&id=10&Itemid=205&lang=en |
| Field | Economy |
| Keywords | housing; hedonic pricing model; OLS; price determinants |
| Description | This paper introduces determinants of housing price in the statutory city of Brno. The aim is to present several determinants and find the model which describes the relationship between determinants and housing price. We choose three types of variables as determinants: time, location and house characteristics. For the purpose of processing this paper realized prices were analysed (for the period between 2012:Q1 and 2015:Q2) for housing units located in different districts of Brno. Those three are then variables entered into hedonic price model. Hedonic price model is estimated using the method of ordinary least square. In conclusion this contribution sets out the factors that influence the buyer's choice of new house. |
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