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Land Use, Economic Welfare and Property Values: An Analysis of the Interdependencies of the Real-Estate Market with Zonal and Socio-Economic Variables in the Municipalities of Apulia Region (Italy)

Pierluigi Morano, Francesco Tajani, Marco Locurcio

Source Title: International Journal of Agricultural and Environmental Information Systems (IJAEIS)6(4)

ISSN: 1947-3192|EISSN: 1947-3206|EISBN13: 9781466678729|DOI: 10.4018/IJAEIS.2015100102

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MLA

Morano, Pierluigi, et al. "Land Use, Economic Welfare and Property Values: An Analysis of the Interdependencies of the Real-Estate Market with Zonal and Socio-Economic Variables in the Municipalities of Apulia Region (Italy)." IJAEIS vol.6, no.4 2015: pp.16-39. http://doi.org/10.4018/IJAEIS.2015100102

APA

Morano, P., Tajani, F., & Locurcio, M. (2015). Land Use, Economic Welfare and Property Values: An Analysis of the Interdependencies of the Real-Estate Market with Zonal and Socio-Economic Variables in the Municipalities of Apulia Region (Italy). International Journal of Agricultural and Environmental Information Systems (IJAEIS), 6(4), 16-39. http://doi.org/10.4018/IJAEIS.2015100102

Chicago

Morano, Pierluigi, Francesco Tajani, and Marco Locurcio. "Land Use, Economic Welfare and Property Values: An Analysis of the Interdependencies of the Real-Estate Market with Zonal and Socio-Economic Variables in the Municipalities of Apulia Region (Italy)," International Journal of Agricultural and Environmental Information Systems (IJAEIS) 6, no.4: 16-39. http://doi.org/10.4018/IJAEIS.2015100102

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Abstract

In the paper an analysis of functional correlations of property prices with the main locational and socio-economic variables, which generally contribute to define the market value of properties, has been developed. Locational characteristics are represented by the surfaces of soil used for the main functions, borrowing the logic of the system of classification of CORINE Land Cover (European Commission). The analysis has been contextualized to the 258 municipalities of the Apulia region (Southern Italy), and has been referred to two different moments (years 2006 and 2011), and two different market segments (residential and retail). The functional relationships between property prices and explanatory variables considered, estimated through a software that implements a genetic algorithm, are particularly interesting. The methodology outlined constitutes a valuable reference for the definition of models aimed at supporting, in a more rational and convenient way, public planning decisions and private investment choices.

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Land Use, Economic Welfare and Property Values: An Analysis of the Interdependencies of the Real-Estate Market with Zonal and Socio-Economic Variables in the Municipalities of Apulia Region (Italy)

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