Table 4 Comparison between models heterogeneous nature of real estate goods (see Table 4). taking into account the variance in house prices which can not be attributed to the
Related Figures (8)
he housing characteristics included in the regression analysis are the following (see Table 1): number of bathrooms and the number of balconies from the regression analysis. Precisely “The Italian acronym OMI stands for “Osservatorio Mercato Immobiliare” and it refers to the Italian Real Estate Market Observatory. The OMI zone reflects a homogenous sector of the local property market, in which there is substantial uniformity of appreciation for environmental and socio-economic conditions. house price data of the 7 Italian cities (see Table 2). In a nutshell, this extended hedonic pricing model allows a major drawback of the Table 5. Role of residual price volatility in the formation process of housing prices in Italy