The use of quality variable models to test the market price of dwellings Cover Image

Zastosowanie modeli zmiennych jakościowych do badania ceny rynkowej mieszkań
The use of quality variable models to test the market price of dwellings

Author(s): Barbara Batóg, Iwona Foryś
Subject(s): Economy, National Economy, Financial Markets, Public Finances, Socio-Economic Research
Published by: Główny Urząd Statystyczny
Keywords: econometric models; logit model; housing market; real estate prices

Summary/Abstract: The article presents the results of the housing market survey in Warsaw in 2009 and 2010. Offers were described by a set of several quantitative and qualitative variables, including the transaction price. In the studied years operated the “Rodzina na swoim” (“Family on its own”) program, in which the housing price limits were introduced on the opportunity to apply for funding. However, the limits of budget expenditure resulted in the introduction of savings and announcement of the program realization in a modified formula. In this context, conducted by the authors the secondary housing market research shows the characteristics of a dwelling eligible for purchase by the state fund. The co-financing threshold in Warsaw was treated as a dichotomous variable (a feature which is included or not in the range of co-financing). Binomial logit models were used for so defined dependent variable. As independent variables were used both quantitative and qualitative housing characteristics. The use of this type of models allows to assess which variables have the greatest impact on the price of meeting the criteria of the State housing assistance program.

  • Issue Year: 58/2013
  • Issue No: 05
  • Page Range: 36-50
  • Page Count: 15
  • Language: Polish