Impact of quality-led design on real estate value: a spatiotemporal analysis of city centre apartments

This paper estimates the impact of quality design attributes on real estate value through empirical investigation of the owner-occupied multifamily residential sector. The methodological design is based on spatiotemporal modelling using a unique data-set of 424 Belfast City Centre apartments sold during the period 2000–2008. The key findings indicate that urban scale aspects of quality such as connectivity and vitality associated with building density add to real estate value. At the building level, quality features highly valued by home buyers are namely appropriateness of material quality, fenestration and massing to the surroundings. These key criteria are considered to have a significant visual perception compared to more complex concepts such as identity, material choice and overall condition. The contribution to knowledge involves extending the hedonic model to incorporate a wider selection of design quality variables; and improving estimation through the use of spatiotemporal modelling.</p

A location value response surface model for mass appraising: An “iterative” location adjustment factor in Bari, Italy

The work is focused on a new model of mass appraising including location variable. A location adjustment factor derived from a mathematical iteration was compared to the location adjustment factor based on geostatistical techniques. The work compares three different linear MRA models. The first one uses the location blind linear MRA. The second integrates the linear MRA with a location adjustment factor calculated using spatial interpolation. The second alternative is an application of Location Value Response Surface Models (O'Connor, 1982). It represents the first application of these models for mass appraising in Italy. The third approach introduces the Iterative Location Adjustment Factor. This is a factor which measure the influence of location derived from a mathematical iteration. Empirical results seem to prove the validity of Iterative Location Adjustment Factors in specific context with few observations. Santruka Darbe nagrinejamas naujas masinio turto vertinimo modelis, apimantis geografines padeties kintamaji. Iteraciniu būdu apskaičiuotas geografines padeties korekcijos veiksnys palygintas su geografines padeties korekcijos veiksniu, gautu taikant geostatistinius metodus. darbe lyginami trys skirtingi tiesiniai mrA modeliai. Pirmajame naudojamas geografines padeties nevertinantis tiesinis MRA. Antrajame tiesinis MRA sujungiamas su geografines padeties korekcijos veiksniu, apskaičiuotu pasitelkus erdvine interpoliacija. Antrojoje alternatyvoje pritaikomi geografines padeties vertes stebimojo paviršiaus (angl. Location Value Response Surface) modeliai (O'Connor 1982). Italijoje šie modeliai masiniam turto vertinimui naudojami pirma karta. Trečiojoje alternatyvoje taikomas iteracinis geografines padeties korekcijos veiksnys. Jis ivertina geografines padeties itaka, nustatyta iteraciniu būdu. Empiriniai rezultatai, regis, irodo iteraciniu geografines padeties korekcijos veiksniu pagristuma konkrečiame kontekste, kai stebejimu yra mažai. First Published Online: 09 Jun 201

The effect of urban green spaces on house prices in Warsaw

In the paper, we analysed the impact of proximity to urban green areas on apartment prices in Warsaw. The data-set contained in 43 075 geo-coded apartment transactions for the years 2010 to 2015. In this research, the hedonic method was used in Ordinary Least Squares (OLS), Weighted Least Squares (WLS) and Median Quantile Regression (Median QR) models. We found substantial evidence that proximity to an urban green area is positively linked with apartment prices. On an average presence of a green area within 100 meters from an apartment increases the price of a dwelling by 2,8% to 3,1%. The effect of park/forest proximity on house prices is more significant for newer apartments than those built before 1989. We found that proximity to a park or a forest is particularly important (and has a higher implicit price as a result) in the case of buildings constructed after 1989. The impact of an urban green was particularly high in the case of a post-transformation housing estate. Close vicinity (less than 100 m distance) to an urban green increased the sales prices of apartments in new residential buildings by 8,0–8,6%, depending on a model

Improved Mitochondrial Function with Diet-Induced Increase in Either Docosahexaenoic Acid or Arachidonic Acid in Membrane Phospholipids

Mitochondria can depolarize and trigger cell death through the opening of the mitochondrial permeability transition pore (MPTP). We recently showed that an increase in the long chain n3 polyunsaturated fatty acids (PUFA) docosahexaenoic acid (DHA; 22:6n3) and depletion of the n6 PUFA arachidonic acid (ARA; 20:4n6) in mitochondrial membranes is associated with a greater Ca2+ load required to induce MPTP opening. Here we manipulated mitochondrial phospholipid composition by supplementing the diet with DHA, ARA or combined DHA+ARA in rats for 10 weeks. There were no effects on cardiac function, or respiration of isolated mitochondria. Analysis of mitochondrial phospholipids showed DHA supplementation increased DHA and displaced ARA in mitochondrial membranes, while supplementation with ARA or DHA+ARA increased ARA and depleted linoleic acid (18:2n6). Phospholipid analysis revealed a similar pattern, particularly in cardiolipin. Tetralinoleoyl cardiolipin was depleted by 80% with ARA or DHA+ARA supplementation, with linoleic acid side chains replaced by ARA. Both the DHA and ARA groups had delayed Ca2+-induced MPTP opening, but the DHA+ARA group was similar to the control diet. In conclusion, alterations in mitochondria membrane phospholipid fatty acid composition caused by dietary DHA or ARA was associated with a greater cumulative Ca2+ load required to induced MPTP opening. Further, high levels of tetralinoleoyl cardiolipin were not essential for normal mitochondrial function if replaced with very-long chain n3 or n6 PUFAs

Mass appraisal, hedonic price modelling and urban externalities: Understanding property value shaping processes

Originally published in Optics Express on 07 April 2014 (oe-22-7-8101