Doctoral theses of the School of Engineering at Aaltodoc (external link)
Doctoral theses of the School of Engineering are available in the open access repository maintained by Aalto, Aaltodoc.
Public defence in geoinformatics, M.Sc. (Econ.) Kari Halme
Spatial analysis methods increase the explanatory power of hedonic models for apartment price per square meter. Public defence from the Aalto University School of Engineering, Department of Built Environment
Title of the thesis: The impact of location on apartment prices in the Helsinki metropolitan area
Thesis defender: Kari Halme
Opponent: Assistant Professor Antti Kurvinen, Tampere University, Finland
Custos: Professor Emerita Kirsi Virrantaus,Aalto University School of Engineering, Department of Built Environment
Spatial analysis methods increase the explanatory power of hedonic models for apartment price per square meter.
The structural features and location of an apartment explain its sale price relatively effectively in the Helsinki metropolitan area. The results of this study are based on transaction data from the Central Federation of Real Estate Agencies’ Price Monitoring Service for 2019. Short distances to location factors increase apartment prices, as they enable residents to move easily, access services, and enjoy aesthetically pleasing areas.
According to the findings, an apartment’s price depends not only on its structural and location characteristics but also reflects the features and realized prices of nearby apartments. In the Helsinki metropolitan area, apartment price formation cannot be explained by a single model, as structural and location factors influence prices differently in various parts of the region, with varying strengths.
Keywords: apartments, hedonic analysis, spatial dependency, spatial heterogeneity
Thesis available for public display 7 days prior to the defence at Aaltodoc.
Contact information: kari.halme@laurea.fi
Doctoral theses of the School of Engineering
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