HEDONIC ANALYSIS OF APARTMENTS’ PRICE IN ROMANIA
HEDONIC ANALYSIS OF APARTMENTS’ PRICE IN ROMANIA
Author(s): Anuta Buiga, George-Florin TOTHSubject(s): National Economy, Micro-Economics, Economic development
Published by: Alma Mater & Universitatea »Babes Bolyai« Cluj - Facultatea de St. Economice si Gestiunea Afacerilor
Keywords: hedonic price; real estate market; GLM; economic crisis;
Summary/Abstract: The research presents apartments’ prices, appreciated after the first stage of increasing the price level of real estate in the last quarter of 2014, representing the first stage in the evolution of the economic cycle, after the economic crisis, which follows the continuation of this trend Hedonic regression shows the major facts which influence the real estate market in four big cities in Romania with related global features (international airport, universities, a stable distribution of population over 150,000 people), and modeled using the GLM model which efficiently reduces the mistakes involved by heteroscedasticity, an issue that many models confront with, like the OLS model. This fact is relevant because the objectivity of costumers’ decisions becomes significant as a result of restarting the engine of economy; the cash infusion involves the increasing of incomes and personal savings, the last ones could be used as investments in the real estate domain and not only.
Journal: Review of Economic Studies and Research Virgil Madgearu
- Issue Year: VIII/2015
- Issue No: 2
- Page Range: 5-23
- Page Count: 19
- Language: English
- Content File-PDF