We study the implications of property market transaction tax. As property buyers are obligated to pay a transaction tax (“stamp duty”, or SD) where the rate increases with the value of the transaction, there are incentives to trade at or just below the cutoff points of the tax schedule....

This paper uses street-level data on house sales and crime rates for England and Wales to look at the existence of compensating differentials for crime risk. In terms of identification my strategy relies on the use of non-parametric regional time trends as well as various fixed effects to...

Three striking empirical regularities have been repeatedly reported: the positive correlation between housing prices and trading volume, between housing price and the time-on-the-market (TOM), and the existence of price dispersion. This short paper provides perhaps the first unifying framework...

This paper explores the emerging regeneration strategies for inner suburban areas. Drawing on evidence from Liverpool, Manchester and Leeds, the authors argue that regeneration of these inner areas can do more than upgrade housing and environments for existing residents; they can become more...

Implicit values of amenities and the quality of life in an area can be measured by differences in “real wages” across areas, where real wages are computed as nominal wages adjusted for the cost of living. Computing cost of living differences involves several important issues, most important...

The aim of this article is to build a spatial housing price index for the Chilean communes (the commune political body similar to a municipality or county). The first step is to recover hedonic prices of three housing attributes by estimating a mixed index model (Bowden, 1992) using a...

This paper attempts to examine the impacts of neighborhood types, as defined by a gated-guarded neighborhood with landscape compound and a freehold tenure neighborhood on residential property values in Klang Valley, Malaysia. A weighted least squares method together with a heteroscedasticity...

The housing industry is crucial to the sustainable development in Malaysia. The efficiency and effectiveness of the housing delivery system requires housing provision for all. The housing industry, which had grown rapidly in the 1980s encountered property oversupply recently. The majority of...

The housing industry is crucial to the sustainable development in Malaysia. The efficiency and effectiveness of the housing delivery system requires housing provision for all. The housing industry, which had grown rapidly in the 1980s encountered property oversupply recently. The majority of...

The residential property industry, which had grown rapidly in the 1980s, however, encountered overhang problems recently. Overhang of residential units has been getting worse and therefore, precautionary measures must be taken by the housing developers before it leads to a property glut. In...