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PROSTORNA ELASTICNOST TRAZENIH CIJENA STANOVA NA STAMBENOM TRZISTU GRADA ZAGREBA

Ekonomska misao i praksa, 2016-01, Vol.25 (1), p.23 [Peer Reviewed Journal]

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Title:
PROSTORNA ELASTICNOST TRAZENIH CIJENA STANOVA NA STAMBENOM TRZISTU GRADA ZAGREBA
Author: Sliskovic, Tamara ; Tica, Josip
Subjects: Econometrics ; Housing prices ; Property values ; Real estate companies ; Studies
Is Part Of: Ekonomska misao i praksa, 2016-01, Vol.25 (1), p.23
Description: The goal of this paper is to estimate effect of distance on prices on the housing market in the City of Zagreb. Estimated hedonic econometric model confirms the theoretical expectation of the negatively sloped bid-rent curve - negative effect of distance on real estate prices. The results are robust even after effects of neighborhoods, time, size and average speed of commuting between dwellings and downtown are accounted for. The results of this study have strong implications due to the fact that most of the scientific papers on Croatian real estate market and almost all professionals on the market use neighborhood/regional averages as proxies for distance. The topic of the research is important in the framework of: (i) mass estimation of the real estate properties in the context of the real estate tax introduction; (2) estimation of the fair value of real estate properties within the Basel III rules in the financial sector.
Publisher: Dubrovnik: University of Dubrovnik
Language: Croatian
Identifier: ISSN: 1330-1039
EISSN: 1848-963X
Source: ProQuest Central
DOAJ Directory of Open Access Journals

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