Análisis de precios hedónicos de viviendas

S Poeta,T Gerhardt,M Stumpf Gonzalez

doi:10.4067/s0718-50732019000200215

S Poeta, T Gerhardt + Show 1 more

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https://doi.org/10.4067/s0718-50732019000200215

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Abstract

This paper presents a study about the housing pricing using hedonic modelling. The pricing models have several uses, such as determinate property taxes or to mortgage decision analysis. In the case of taxation, models must be broader, aiming at the evaluation of a set of housing units. It makes the work seem more complex. This issue is a barrier to widespread statistical inference in tax assessment, especially in small and medium-sized municipalities, which have fewer human resources. This paper presents a study in two medium-sized Brazilian cities, demonstrating the process of analysis and developing models to single-family properties. Data were collected on real estate agents and valuation reports. Statistical analysis allows finding the equations that best fitted observed data. Significance tests of variables and models were performed and indicated that the models have good explanation of prices. It can be concluded that these models could be used in evaluation with tax purposes

Highlights

The objective of the study if to present hedonic pricing models for the housing market in Lajeado and Montenegro, two mid-size cities located in the south of Brazil
The housing market is an important segment of the urban economy
A hedonic price function can be proposed in the general way shown in (Equation 1): Price = α 0 + α 1x1 + α 2x2 + α 3x3 +...+ α kxk + ε

Summary

Introduction

The objective of the study if to present hedonic pricing models for the housing market in Lajeado and Montenegro, two mid-size cities located in the south of Brazil. This type of pricing model can be used, for example, in tax valuations, which aim at calculating property taxes, sales taxes and capital gain taxes. It is a common practice to assess the importance of the goods for the society through their prices. In this context, the preferences of the consumers are basically explained by the prices. The properties offering the highest number of characteristics desired by the buyers will have higher prices, and the properties with less characteristics will have lower prices (Robinson, 1979) (Sheppard, 1999)

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