2008Tijdschrift voor Economische en Sociale GeografieRequires access

RESIDENTIAL ENVIRONMENT AND SPATIAL VARIATION IN HOUSE PRICES IN THE NETHERLANDS

Petra Visser, Frank van Dam, Pieter Hooimeijer

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Abstract

ABSTRACT Even in a small country such as the Netherlands, spatial variations in house prices are considerable. This paper addresses the question about the extent to which these variations in house prices can be explained by differences in physical, social and functional characteristics of the residential environment. Data on the prices and characteristics of houses were linked with a variety of attributes of the residential environment. We used hedonic price modelling to derive different models of property prices from which the contribution of the characteristics of the residential environment were estimated. It is demonstrated that regional house price variations can indeed largely be explained by characteristics of the residential environment. An important factor in these regional price differences is the accessibility to employment opportunities.

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What this paper is about

ABSTRACT Even in a small country such as the Netherlands, spatial variations in house prices are considerable. This paper addresses the question about the extent to which these variations in house prices can be explained by differences in physical, social and functional characteristics of the residential environment. Data on the prices and characteristics of houses were linked with a variety of attributes of the residential environment. We used hedonic price modelling to derive different models of property prices from which the contribution of the characteristics of the residential environment were estimated. It is demonstrated that regional house price variations can indeed largely be explained by characteristics of the residential environment. An important factor in these regional price differences is the accessibility to employment opportunities.

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Available abstract

ABSTRACT Even in a small country such as the Netherlands, spatial variations in house prices are considerable. This paper addresses the question about the extent to which these variations in house prices can be explained by differences in physical, social and functional characteristics of the residential environment. Data on the prices and characteristics of houses were linked with a variety of attributes of the residential environment. We used hedonic price modelling to derive different models of property prices from which the contribution of the characteristics of the residential environment were estimated. It is demonstrated that regional house price variations can indeed largely be explained by characteristics of the residential environment. An important factor in these regional price differences is the accessibility to employment opportunities.

Key concepts: House price, Residential property, Variation (astronomy), Variety (cybernetics), Hedonic pricing, Spatial variability, Built environment, Economics

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