Charalambides, D. (2022) How are floating houses priced in relation to comparable on-land housing? Evidence from Portland, USA. Master thesis.
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Master Thesis RES Final - Demetrios Charalambides (s4733215).pdf Download (1MB) | Preview |
Abstract
This study examines price differentials amongst comparable floating and nearby on-land housing in Portland, USA using properties’ sales prices within 2019-2022. Finding a difference in the pricing of the two housing types can reflect how consumers perceive residing in a floating house compared to on-land housing. Considering the zoning constraints, the insufficient housing construction and the existing flooding-risk in Portland, understanding consumers’ willingness to reside in a floating house can be useful for the residential real estate industry. This study may indicate whether unsinkable floating houses are a viable residential alternative to traditional housing, based on the magnitude of the price differential between on-land and floating housing. We employ a hedonic regression focusing on a binary variable that compares the impact of the floating status relative to on-land housing on sales prices. We find that floating houses are on average sold at lower prices compared to houses on land, whilst controlling for property characteristics, location and time effects. Future research may examine price differences between the two housing types in areas entailing greater housing consumption risk compared to Portland.
| Item Type: | Thesis (Master) |
|---|---|
| Degree programme: | Real Estate Studies |
| Supervisor: | Vlist, A.J. van der |
| Date Deposited: | 06 Sep 2022 14:55 |
| Last Modified: | 06 Sep 2022 14:55 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/4027 |
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