An Evaluation of the Qualitative Factor in the Tokyo Apartment House Market
- Other Title
- トウキョウ トシンブ ニ オケル チンタイ シュウゴウ ジュウタク カカク ノ フカ カチ ヨウイン ニ カンスル ケンキュウ
Search this article
As the country grow up and the society matures, Japanese began to seek for the better quality of life. In such an era, quantitative factors such as age, location, structure, and etc are not enough to explain the value of rent price. A hedonic rent model for house space is estimated to determine if the residents of apartments internalize the value of the qualitative factors in the Tokyo Metropolis. The regression results indicate that a considerable rent premium is paid for "good" architectural design. The result also yields the information about the impact on rent of other factors such as regional brand, age, amenities, structure, and so on.
- Journal of the City Planning Institute of Japan
Journal of the City Planning Institute of Japan 42.3 (0), 529-534, 2007
The City Planning Institute of Japan