Location, location, location: Extracting location value from house prices
Location, location, location: Extracting location value from house prices
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位置，位置，位置：从房价中提取位置价值
DOI：
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发表时间：
2012
期刊：
影响因子：
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通讯作者：
A. Werwatz
中科院分区：
文献类型：
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作者：
Jens Kolbe;Rainer Schulz;Martin Wersing;A. Werwatz
独栋住宅的价格既取决于建筑的特点，也取决于其位置。我们提出了一种新的从房价中提取位置值的半参数方法。在将房价分解为建筑和土地分量后，使用自适应权重平滑来估计位置值。自适应估值器既不需要强的光滑性假设，也不需要局部对称性。我们将该方法应用于来自德国柏林的房屋交易。区位价值的估计表面与基于专家的地价和区位评级高度相关。因此，半参数方法可用于不存在其他位置值信息或该信息不可靠的应用。
The price for a single-family house depends both on the characteristics of the building and on its location. We propose a novel semiparametric method to extract location values from house prices. After splitting house prices into building and land components, location values are estimated with adaptive weight smoothing. The adaptive estimator requires neither strong smoothness assumptions nor local symmetry. We apply the method to house transactions from Berlin, Germany. The estimated surface of location values is highly correlated with expert-based land values and location ratings. The semiparametric method can therefore be used for applications where no other location value information exists or where this information is not reliable.