<abstract xmlns="http://www.w3.org/1999/xhtml">The aim of this study is to identify the economic, demographic, environmental and spatial determinants of residential property prices in Polish counties. Two-stage quantile spatial regression (2SQSR) is the main method of analysis. Additionally, two-stage least squares regression (2SLS) is used.The estimation results indicate that there are several significant determinants of residential property prices with observable quantile effects. In particular, the findings reveal a very interesting U-shaped pattern among quantile regression coefficients for variables describing unemployment rate, the standard of properties and county area. For the spatially lagged dependent variable, a linear pattern is observable.Generally, the findings of this study have notable implications for developing housing policies, both at the national and local levels.</abstract>

The aim of this study is to identify the economic, demographic, environmental and spatial determinants of residential property prices in Polish counties. Two-stage quantile spatial regression (2SQSR) is the main method of analysis. Additionally, two-stage least squares regression (2SLS) is used.The estimation results indicate that there are several significant determinants of residential property prices with observable quantile effects. In particular, the findings reveal a very interesting U-shaped pattern among quantile regression coefficients for variables describing unemployment rate, the standard of properties and county area. For the spatially lagged dependent variable, a linear pattern is observable.Generally, the findings of this study have notable implications for developing housing policies, both at the national and local levels.

The Impact of Macro Factors on Apartment Prices in Polish Counties: A Two-Stage Quantile Spatial Regression Approach

Department of Economics for Real Estate and Investment Process

Real Estate Management and Valuation

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The aim of this study is to identify the economic, demographic, environmental and spatial determinants of residential property prices in Polish counties....

The Impact of Macro Factors on Apartment Prices in Polish Counties: A Two-Stage Quantile Spatial Regression Approach

Published Online: Dec 16, 2019

Page range: 1 - 14

DOI: https://doi.org/10.2478/remav-2019-0031

Keywords
spatial quantile regression, Polish counties, apartment prices, housing market in Poland

© 2019 Mateusz Tomal, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The Impact of Macro Factors on Apartment Prices in Polish Counties: A Two-Stage Quantile Spatial Regression Approach

Published Online: Dec 16, 2019

Page range: 1 - 14

DOI: https://doi.org/10.2478/remav-2019-0031

Keywordsspatial quantile regression, Polish counties, apartment prices, housing market in Poland

© 2019 Mateusz Tomal, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
spatial quantile regression, Polish counties, apartment prices, housing market in Poland