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The True Value. On Understanding Something Read chapter Read first chapter

2017 | OriginalPaper | Chapter

Buildings Energy Performance and Real Estate Market Value: An Application of the Spatial Auto Regressive (SAR) Model

Authors : Marta Bottero, Marina Bravi, Giulio Mondini, Antonio Talarico

Published in: Appraisal: From Theory to Practice

Publisher: Springer International Publishing

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Abstract

This work explores the role of the buildings energy performance in defining the real estate market value, taking in consideration the presence of spatial autocorrelation. At this regard, it is necessary to put in evidence that a great heterogeneity exists on the Italian territory with reference to buildings energy performance; for this reason, being able to identify a class of most performing estimation models, suitable to separate the spatial effects from the influence of the building components—including the energy rating—on the value, seems to be an interesting goal. In particular, this work illustrates an experiment based on the Spatial Auto Regressive (SAR) model implemented on a sample of residential units located in the city of Turin and represents a first step of a more wide research program.

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Footnotes
1
This option assigns weights to nearest neighbors equal to the inverse of their rank. So the nearest neighbor’s weight is 1, the second nearest neighbor weight is 1/2, the third nearest neighbor weight is 1/3, etc. For a specified nearest neighbor count, this weight value is essentially standardized because all objects in the data-set have the same count.
 
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Metadata
Title
Buildings Energy Performance and Real Estate Market Value: An Application of the Spatial Auto Regressive (SAR) Model
Authors
Marta Bottero
Marina Bravi
Giulio Mondini
Antonio Talarico
Copyright Year
2017
Book
Appraisal: From Theory to Practice

Print ISBN: 978-3-319-49675-7

Electronic ISBN: 978-3-319-49676-4

Copyright Year: 2017

DOI
https://doi.org/10.1007/978-3-319-49676-4_16