Real Estate values in Low Dynamic Markets: proximity effects

The identification of residential submarkets is of great interest for the correct planning ofhousing policy. In addition, in recent years increasing demand for more detailed spatial statisticalinformation that requires increasingly specific territorial subsets has emerged.
The aim of this paper is to define an aggregation of municipalities characterized by homogeneity interms of trends and levels of house prices.

The empirical analysis is carried out in a first phase using tools of descriptive statistics, global andlocal econometric spatial indices, and regressive techniques to create a set of useful indicators. Inthe second phase, a clustering method is applied to define the final groups.

Isidora Barbaccia, Erika Ghiraldo, Maurizio Festa

 

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