The effect of ground leases on house prices in Helsinki

One imperfection in housing markets is imperfect knowledge about legal interests such as ground leases. Both actual reduced legal interest as well as uncertainty surrounding rights and future lease payments for houses constructed on leased land may affect prices relative to houses built on freehold land. We use regression analysis of sales prices of condominium transactions in Helsinki to examine the effect ground leases have on house prices. We find that prices on condominiums constructed on leased lots are discounted at least 5 %, on average. In addition, we see that the announcement of potentially large increases in base rents upon renewal contributes to the discount.     

Development of house prices in the Netherlands

This contribution concerns the development of prices in the owneroccupied sector in the Netherlands. The analysis focuses on the development over two decades, from 1975 to 1995. That period may be divided into a number of phases of growth and stagnation, as defined by fluctuating house prices. Some explanations for these fluctuations are offered here. These include the influence of regulation by government and other major institutions; demographic developments; developments in the supply of owner-occupied dwellings; developments in a number of economic variables; and the dynamics of the market. Then an attempt is made to estimate how prices will develop in the future. It should be kept in mind that this forecast is based on statistical relations that were calculated with reference to the past. In the event those relations change in the future, the model estimated here would not yield good predictions. Peter Boelhouwer is researcher at the OTB Research Institute for Policy and Technology at Delft University of Technology, The Netherlands. His research focus has been general housing policy, housing finance and comparative housing research. Johan Conijn is director of the OTB Research Institute for Policy and Technology at Delft University of Technology, The Netherlands. His research focus has been general housing economics, housing finance, and general housing policy. Paul de Vries is assistant-researcher OTB Research Institute for Policy and Technology at Delft University of Technology, The Netherlands. His research focus has been building market and statistical analyses.     

Development of house prices in the Netherlands: An international perspective

This article deals with the questionwhether it is plausible to assume, on the basis ofexperiences in other countries and general insightsinto the operation of the market for owner-occupiedhousing, that a price correction will take place inthe market for owner-occupied dwellings in theNetherlands or rather that it is reasonable toexpect that the rising trend in real sales prices,which started in the 1980s, will continue steadilyon the same course. On the grounds of thisinformation, we conclude that in the medium term, weshould expect to see a decline in the sales pricesfor dwellings in the Netherlands.     

The impact of immigration on housing prices in Australia

In recent years, Australia has experienced high rates of immigration. We investigate the effect that this has had on housing prices at the postcode level. The endogeneity of immigrant inflows is accounted for using the Bartik shift-share approach. Using data from the censuses in 2006, 2011, and 2016, we find that an immigrant inflow of 1% of a postcode's population raises housing prices by around 0.9% per year. As a result, Australian housing prices would have been around 1.1% lower per annum had there been no immigration. The size of this effect is broadly consistent with that found for other countries. The effects of immigration on housing prices were larger in the more recent part of the period examined and strongest in the states of New South Wales and Victoria, and the cities of Melbourne and Adelaide. Chinese and Indian immigrant groups are shown to have a strong positive influence on prices.     

The influence of soil remediation on lead in house dust

Lead in house dust has long been recognized as a principal source of excess lead absorption among children at the Bunker Hill Superfund Site (BHSS) in northern Idaho. House dust lead concentration from homeowner's vacuum cleaner bags has been monitored since the epidemic of childhood lead poisoning in 1974. Geometric mean house dust lead concentrations decreased from >10000 mg/kg in 1974 to approximately 4000 mg/kg in 1975, in response to air pollution control initiatives at the defective primary lead smelter. After smelter closure, 1983 mean dust lead concentrations were near 3000 mg/kg and were most dependent on soil sources. Following emergency soil removals from public areas and roadsides and fugitive dust control efforts in the mid-1980s, house dust lead decreased by approximately 40-60% to 1200-1500 mg/kg. In 1992, a cleanup goal of 500 mg/kg dust lead community average, with no individual home exceeding 1000 mg/kg, was adopted. This goal was to be achieved by a combination of contaminated soil removals and fugitive dust control efforts throughout the 21 square mile BHSS. Continual reductions in house dust lead concentrations have been noted throughout the residential area soil cleanup. Geometric mean house dust lead concentrations averaged approximately 500-600 mg/kg from 1996 to 1999 and dropped below 500 mg/kg in 2000. Analysis of these data indicates that approximately 20% of the variance in dust lead concentrations is attributed to yard, neighborhood, and community soil lead concentrations. Since 1996, dust lead concentrations and dust and lead loading rates have also been measured by dust mats placed at entryways into the homes. Neighborhood soil lead concentrations, household hygiene, the number of adults living in the home, and the number of hours a child spends outdoors in summer explain approximately 26% of the variance in mat dust lead loading rates. It is estimated that post-remedial house dust lead concentrations will stabilize at 400-500 mg/kg, as compared to approximately 200 mg/kg in socio-economically similar background communities; the difference possibly attributed to residual soil concentrations (3-6 times background), recontamination of rights-of-way, tracking of non-residential mining district soils and dusts, fugitive dusts associated with the remediation, and residual structural or carpet dusts.     

Noise expectations and house prices: the reaction of property prices to an airport expansion

We examine the effects of an airport expansion on the prices of houses and apartments located under the planned flight paths. We focus on the role of expectations of aircraft noise during the expansion of Berlin-Brandenburg International Airport. The publication of the flight paths can be seen as an exogenous event. It provides local residents and potential home buyers with reliable information in a situation that is characterized by uncertainty. The flight paths greatly influence the expectation of the noise level. We find that property listing prices were reduced substantially in the affected areas after the flight paths were published. The loss of value of the affected properties was found to be 9.6 % on average within a slant distance of 3 km from a planned flight path. If the flight altitude is below 1,000 m, the discount is between 11.8 and 12.8 %, whereas for higher flight altitudes, the average decline in prices is estimated to be 8.3 %.     

The missing asymmetry in the Polish house price cycle: an analysis of the behaviour of house prices in 17 major cities

Journal of Housing and the Built Environment - This paper investigates the house price cycle in 17 major cities in Poland, analysing separately prices of newly constructed housing and prices in the...     

分散介质对水包水多彩涂料的影响

通过对保护胶及降黏剂的选择使用,分析了不同保护胶、降黏剂所制备的分散介质对水包水多彩涂料的影响.当使用钠基蒙脱石作保护胶,三聚磷酸钠作降黏剂,添加量分别为5%.0.5%配制分散介质时,所得的水包水多彩涂料具有良好的稳定性.     

The impact of gasoline prices on urban bus ridership

This article examines the gasoline price elasticity of ridership on a city transit system. Multiple regression models are developed to explain variations in ridership due to changes in gasoline prices, bus system size, and other variables. The estimated gasoline price elasticity of bus ridership is. 3, which is very strong statistically. This provides insight into the possible relationship between future federal energy policies which will influence future gasoline prices and urban transportation modal choices.     

The incomplete privatization of the Dutch housing market: Exploding house prices versus falling house-building output

This paper addresses the coordination problems in the liberalized housing market in the Netherlands during the 1990–2004 period. In particular, the mismatch between the explosion in house prices and the stagnation in house-building activities during the past six years is under investigation. It is argued that there is still a marked discrepancy between the language used in the policy discourse and the supply and demand situation on the Dutch housing market. One could argue that the Dutch government implemented a double-hearted, incomplete privatization. As a result of the mismatch between actual housing policy and market developments, output is stagnating and the housing shortage is growing sharply. The closing section presents some possible means to overcome these problems.     

一起居民住宅燃气爆燃事故的原因认定

通过一起居民住宅燃气爆燃事故现场勘验、调查询问和燃气泄漏点的认定过程,介绍了居民住宅燃气爆炸事故的痕迹特征,以及如何固定受伤人员证人证词、勘验家用燃气泄漏点的方法。     

美国住宅产业中规划师的职责

规划的重要职责在于通过制定一个比总规更为详细的详规．给开发目标、开发方向以及开发政策提供大框架建议．而其中一些规划政策将对包括中低收入人群．公职人员在内的住宅政策产生影响．给不同收入的居民提供拥有相对合理价格住宅的条件。另一方面，规划师的重要职责还要避免住宅形式过于单一，在市场上规划出不同形态、不同类别的住宅．通过规范来强制开发商的开发．必须就地区规划法的使用给评选的官员提出建议．这是一种具有排他性的地域优化规划法律或政策．一些城市会利用规划法来避免低收入者入住到该城市里．而在美国．规划师主要建议采用包容性的规划。     

City proximity,travel modes and house prices: the three cities in Sydney

Journal of Housing and the Built Environment - House prices are partly explained by proximity to the urban centre. Generally, and for simplicity, proximity is measured via straight-line distance...     

Identifying the effect of retail brands on private residential rental prices in Great Britain

Journal of Housing and the Built Environment - This study extends our understanding of the influence of proximity to retail grocery provision on housing rental prices. To achieve this, extensive...     

The impact of flood risk on the price of residential properties: the case of England

This paper examines the impact of flood risk on the value of English residential properties. We find that a location within a flood zone significantly lowers property values even if we control for the proximity to a watercourse, the history of flooding and neighbourhoods effects. Although the flood risk discount is more compelling for waterfront properties, it is still highly significant for dwellings further from the water. The markdown arises around 2004–2005, which coincides with the publication of detailed flood maps by the UK Environment Agency and with a more risk-based pricing of flood insurance policies. As expected, the effect of flood risk on house prices is stronger in the months following major flood events but, interestingly, it almost disappears in a hot market when buyers have arguably less negotiating power.     

Understanding residential house defects in Australia from the State of Victoria

Home building is an important part of Victorian and Australian economy, contributing 3.5–5% of its gross domestic product. While Australians invest billions of dollars in homes building, they expend enormous resources trying to reactively tackle their endemic defects. Notwithstanding, the analysis of this problem remains perfunctory, lacking in depth analysis that can assist in improving the situation. This research aims to determine the interconnections between key house defects to establish whether there is a pattern or sequence in their occurrence. The outcome is an a priori approach to understanding house defects, subsequently leading to their better predictability and control.     

The impact of urban renewal on neighborhood housing prices in Taipei: an application of the difference-in-difference method

This study examined the impact of urban renewal delineation time on housing prices in neighborhoods undergoing urban renewal. More specifically, the study used the difference-in-difference method to assess successful housing transactions in Taipei City from 2008 to 2011. According to the empirical results, before the implementation of urban renewal, the average housing price in the areas that later underwent urban renewal (the treatment group) was lower than that in neighborhoods that did not undergo urban renewal (the control group) by 11,180 NTD. After the urban renewal projects were publicly announced, the price per ping of the control group was increased by 148,800 NTD, while the price per ping of the treatment group was increased by 163,680 NTD. This means that the housing prices per ping in the urban renewal areas were increased by 14,880 NTD more than the housing prices per ping in the areas not affected by urban renewal after the urban renewal projects were publicly announced. This increase, then, indicates the value added after implementation of urban renewal delineation time on houses in the neighborhood. Therefore, research into the impact of urban renewal on housing prices should be concerned not only with the neighborhood factors or time factors of urban renewal delineation. Rather, the two types of factors should be considered at the same time.