Analysing location attributes with a hedonic model for apartment prices in Donetsk, Ukraine

• Main Authors: Marko Kryvobokov, Mats Wilhelmsson
• Format: Article
• Language: English
• Published: Vilnius Gediminas Technical University 2007-09-01
• Series: International Journal of Strategic Property Management
• Subjects: Location attributes; Land assessment; Apartment prices; Regression; Donetsk
• Online Access: https://journals.vgtu.lt/index.php/IJSPM/article/view/7106
• ISSN: 1648-715X; 1648-9179

A hedonic model is specified for asking prices for apartments in Donetsk (Ukraine). This model is used to determine statistically significant location attributes. These attributes can be used for land assessment in a city where data on the land market are lacking. Distance gradients for CBD accessibility are investigated in different geographical directions. Separate models are created for sub‐samples located inside and outside the city centre. A spatial weight matrix is used to detect spatial autocorrelation. The regression results are compared with the valuation of experts. Vietos atributų analizė su hedonistiniu modeliu siekiant nustatyti butų kainas Donceke (Ukraina) Santrauka Apibrėžtas hedonistinis modelis, leidžiantis nustatyti butu kainas Donecke (Ukraina). Pagal ši modeli nustatomi statistiškai reikšmingi vietos atributai. Šiuos atributus galima naudoti vertinant sklypus mieste, kur trūksta duomenų apie žemes rinka. Nagrinėjami atstumo gradientai siekiant įvertinti prieiga prie centriniu verslo rajonu įvairiomis geografinėmis kryptimis. Sukurti modeliai bandomiesiems objektams, esantiems miesto centre ir už jo. Remiantis erdves svorine matrica, nustatoma erdves autokoreliacija. Regresijos rezultatai lyginami su ekspertu vertinimais. First published online: 18 Oct 2010