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Oceňování nemovitostí metodou hedonické ceny
Parolková, Lucie
The thesis is focused on the identification of real estate price determinants through a hedonic pricing model. The thesis is focused on understanding of the heterogeneity and complexity of real estate market. For the hedonic pricing models are used selling prices of real estate in New York state from period 2009 to 2016. As determinants of the prices are considered real estate attributes. These attributes are first investigated in several groups, demographic factors, educational attainment, racial structure, environmental characteristics and location. According to partial results, the final model is created, which includes the determinants with the greatest impact on real estate prices. For purpose of this theses the regression method with time effect is used.
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The affect of installation of blue zones of paid parking on price of prague residential real estates
Kohora, Jan ; Brožová, Dagmar (advisor) ; Rod, Aleš (referee)
This thesis is focused on the quantification of the influence of installation of blue zones of paid parking in Prague and other factors (square metres, the distance to centre, kind of a building...) on the offer price of residential real estates. The thesis assumes that installation of blue zones increase a comfort of residents and due to this increase also a price of real estates in this area. Data set consists of 629 observations. The influence of the factors influencing the offer price of real estates is measured by ordinary least squares. The result of regression analysis shows that existence of blue zones nearby the residential real estate increases its price by nearly 7 %. But the result hasn't been confirmed by the method difference in differences. Furthermore, it was found by OLS that in case of brick building, its price is ceteris paribus higher by 19,8 % than if the building is from panel. This result is almost identical with what Galster a Williams (1994) have measured in Ohio. Every next minute from center means decrease of price of residential real estate by 1,2 %. The positive influence of cellar and elevator hasn't been proven.
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Empirical Analysis of the Impact of Crime on Property Prices in Prague
Šenfeld, Filip ; Komrska, Martin (advisor) ; Čermáková, Klára (referee)
This paper examines the impact of crime on the price of apartments in Prague via the method of hedonic prices. The main objective is to quantify this impact and evaluate how significant factor is the crime rate in the property market. Regression analysis brought paradoxical results. Regression parameters suggest, ceteris paribus, increase in prices of apartments depending on the increase in the index crime. Specifically, according to the regression parameter in the basic model, an increase in crime index by 1% increases housing prices by an average of 0.15 %. The inclusion of various types of crime into the model instead of the total crime and the use of instrumental variables extend the model for a more detailed analysis. The hypothesis of the negative impact of crime on the price of apartments is not on the basis of this analysis confirmed.
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Analysis of the impact of aircraft noise on real estates prices
Sečkár, Antonín ; Hornychová, Taťána (advisor) ; Rod, Aleš (referee)
This bachelor thesis deals with the impact of aircraft noise on real estate prices around the Vaclav Havel Airport in Prague. This impact is studied by regression analysis using the hedonic price model, specifically the first degree model . The dataset contains of 204 houses, information about their characteristics come from advertisements on the real estate market, data on noise come from airport noise maps. The results suggest that if the noise exposure increases by one decibel, real estate price drops by 2.91%, a result comparable with similar studies carried out abroad.
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Determinants of Prague rental prices
Nesnídal, Daniel ; Koubek, Ivo (advisor) ; Mirvald, Michal (referee)
This bachelor thesis analyzes relationships between specific properties of realities and rental prices in the capital city region of Prague. The aforementioned analysis utilizes principles of hedonic pricing and draws on a dataset consisting of 2 357 observations collected in March 2013. Final results indicate that the most significant determinant of rental price may be the reality's affiliation with a specific city district. For example, results suggest that a rental price of reality in Prague 9 will be 16 percentage points lower than a rental price of identical reality in Prague 1. The findings also indicate that another influential factor may be whether the reality is newly constructed, in which case the rental price of such reality increases by 14,3 percentage points.
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Impact of air pollution on property values in Prague
Kaloč, Jiří ; Melichar, Jan (advisor) ; Kaprová, Kateřina (referee)
This thesis is aimed at the topic of economical evaluation of environmental goods, namely at estimating willingness to pay utilizing the hedonic price model. The theoretical part describes the impact air pollution has on the environment and human health. Methods of evaluation are also discussed with special attention on the hedonic approach. Goal of this thesis is to evaluate the impact of air pollution by applying the hedonic model to the real-estate market in Prague, thus giving the authorities a basis for their air pollution management.
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How influence accessibility of public transport prices of flats?
Zezulka, Stanislav ; Lahvička, Jiří (advisor) ; Mirvald, Michal (referee)
This thesis deals with the relationship between accessibility and quality of public transport and the prices of flats in the cities of Prague and Zlín. It attempts to investigate what influence does the distance of a public transport stop have on the selling prices of flats. This investigation is done upon a sample of sale data of over 2000 flats in the year 2010. Two different cities have been compared and the thesis tries to find out whether the influence of public transport on flat prices differs in a big and a smaller city. The investigation has been carried out through the method of hedonic pricing. Furthermore, an investigation into the influence of the presence of individual types of means of transport has been carried out. In this thesis, it is possible to observe the different influence of public transport availability on flat prices in individual cities. In Prague, the availability of the underground increases the flat price by 6.4%. On the other hand, in Zlín, the variables that include transport services come out insignificant. Therefore, it seems that in a smaller city transport services do not interfere into the flat prices so significantly. In Prague, each meter of the distance from a public transport stop decreases the flat price by 0.02%.
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Analysis of the determinants of hotel prices in Prague
Illková, Luisa ; Bartoň, Petr (advisor) ; Bolcha, Peter (referee)
My bachelor thesis examined relationship between characteristics of hotel rooms and its prices. I expect, that hotels with certain attributes, for example hotels with small number of rooms, which own parking site can charge higher prices, than hotels without these characteristics. I use hedonic price method to observe impact of attributes, verified by regression analyze. Most of monitoring variables are statistically significant. Model at whole is also statistically significant. I also do regression analyze without insignificant variables to reach better results. At both cases highest impact on price has variable five stars hotel. Surprisingly, variable internet for free has negative impact on price. At last part of my work I compare my results with results of foreign studies.
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The noise impact on Prague market of dwelling: NSDI of road noise versus NSDI of tram noise
Šohajová, Renata ; Melichar, Jan (advisor) ; Máca, Vojtěch (referee)
This paper is studying an impact of price of noise on a market price of dwelling. I focus on a difference of impacts of road and tram traffic especially. I use a hedonic price model for Prague data. I illustrate a noise concept and its impact on people and society in theory because it encourages economics. I describe the hedonic price model and Noise Sensitivity Depreciation Index. I describe a descriptive analysis, regression analysis, modeling of hedonic price function of tram noise and road noise in practical part. I learn I can't compare hedonic models of tram noise and road noise because noise coefficients are not significant and they are bad oriented. Therefore I create the hedonic price model for night noise that was only one significant and negative.
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