Abstract
The paper is devoted to the study of price determinant in the primary residential real estate market at the municipal level on the example of the residential real estate market in the city of Krasnoyarsk. This is one of the major economic centers of the East Siberian region of Russia. The authors show the applicability of the method of hedonic modeling of the price of a good to the analysis of the real estate market. The authors improve the analysis technique for econometric modeling of housing pricing factors in the selected region, considering territorial planning and clustering of data on the housing market. Among the housing price factors, the authors distinguish external and internal ones. The simulation results show that the internal factor of the construction material and the complex external factor of infrastructure availability have the greatest influence on the change in the price per square meter of primary housing.
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Rutskiy, V. et al. (2023). An Empirical Study on Price Determinants of the Primary Real Estate Market. In: Silhavy, R., Silhavy, P., Prokopova, Z. (eds) Data Science and Algorithms in Systems. CoMeSySo 2022. Lecture Notes in Networks and Systems, vol 597. Springer, Cham. https://doi.org/10.1007/978-3-031-21438-7_47
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DOI: https://doi.org/10.1007/978-3-031-21438-7_47
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