Abstract
The study aimed to investigate the home-buyers’ preferences in relation to urban environmental attributes (two types of air pollution and five types of noise) for Warsaw, Poland and test the applicability of hedonic pricing method (HPM) in Poland. The econometric classical hedonic housing price models are developed and estimated for the city of Warsaw and hedonic models with spatial adjustments (spatial autoregressive model and spatial error model) are developed for separate city districts. The AMRON database of Polish Banks Association is used with 6318 observations between 2012 and 2014 years. The GIS technique and MATLAB tool are applied for implementation to the database location, environmental and spatial attributes. Most of structural and location attributes occurred to be statistically significant with expected signs of influence on prices. Models for separate districts differ, with environmental variables: rail, aircraft, tram, industrial noise, NO2 and PM10 concentrations being significant in some districts.
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Acknowledgements
This paper was prepared as part of the research projects “Value based management of investments in renewable energy sources” [UMO-2011/01/D/HS4/05925] and “Evaluation of the environmental effects in a cost-benefit analysis of the investments in low-emission energy sources” [UMO-2011/01/B/HS4/02322], executed by the Wroclaw University of Economics and financed by the National Science Centre, Poland.
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Ligus, M., Peternek, P. (2017). Impacts of Urban Environmental Attributes on Residential Housing Prices in Warsaw (Poland): Spatial Hedonic Analysis of City Districts. In: Jajuga, K., Orlowski, L., Staehr, K. (eds) Contemporary Trends and Challenges in Finance. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-319-54885-2_15
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DOI: https://doi.org/10.1007/978-3-319-54885-2_15
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