European Business Schools Librarian's Group

ESSEC Working Papers,
ESSEC Research Center, ESSEC Business School

No DR 09004: A Spatial and Temporal Autoregressive Local Estimation for the Paris Housing Market

Ingrid Nappi-Choulet () and Tristan-Pierre Maury ()
Additional contact information
Ingrid Nappi-Choulet: ESSEC Business School, Postal: Avenue Bernard Hirsch, BP 50105, 95021 Cergy Pontoise Cedex, FRANCE
Tristan-Pierre Maury: EDHEC Business School, Postal: 59046 Lille Cedex, FRANCE

Abstract: This original study examines the potential of a spatiotemporal autoregressive Local (LSTAR) approach in modelling transaction prices for the housing market in inner Paris. We use a data set from the Paris Region notary office (“Chambre des notaires d’Île-de-France”) which consists of approximately 250,000 transactions units between the first quarter of 1990 and the end of 2005. We use the exact X -- Y coordinates and transaction date to spatially and temporally sort each transaction. We first choose to use the spatiotemporal autoregressive (STAR) approach proposed by Pace, Barry, Clapp and Rodriguez (1998). This method incorporates a spatiotemporal filtering process into the conventional hedonic function and attempts to correct for spatial and temporal correlative effects. We find significant estimates of spatial dependence effects. Moreover, using an original methodology, we find evidence of a strong presence of both spatial and temporal heterogeneity in the model. It suggests that spatial and temporal drifts in households socio-economic profiles and local housing market structure effects are certainly major determinants of the price level for the Paris Housing Market.

Keywords: Hedonic Prices; Heterogeneity; Paris Housing Market; STAR Model

JEL-codes: C51; R33

25 pages, July 2009

Full text files

showDeclFileRes.do?declId=8545&key=__workpaper__ PDF-file 

Download statistics

Questions (including download problems) about the papers in this series should be directed to Sophie Magnanou ()
Report other problems with accessing this service to Sune Karlsson ().

This page generated on 2024-02-05 15:47:17.