Spatial homogeneity is a strong assumption in the hedonic housing price context; if not analyzed conveniently it can be a potential source of specification errors. Spatial heterogeneity occurs when a territorial segmentation exists in the housing market and, therefore, either the hedonic prices...

Purpose – The purpose of this paper is to study the specialization of regional clusters and their innovative behaviour, in a particular Portuguese region. Design/methodology/approach – A regional case study (Region Centro of Portugal) is used, employing secondary and primary data in order to...