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Disaggregation of Local Apartment Markets by Unit Type (1999)

Wolverton, Marvin L. ; Hardin, William G. ; Cheng, Ping

Springer

The journal of real estate finance and economics 19 (1999), S. 243-257

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ISSN: 1573-045X

Keywords: apartments ; apartment submarkets ; disaggregation

Source: Springer Online Journal Archives 1860-2000

Topics: Economics

Notes: Abstract Recent market segmentation research has begun to delve into the issue of whether traditional property-type categories are sufficiently homogeneous to be modeled as aggregate real estate markets. This article extends the research on rental-property market segmentation by investigating the existence of apartment submarkets determined by unit type. The study finds that one-bedroom, one-bath units; two-bedroom, one-bath units; and two-bedroom, two-bath units function as distinct submarkets differentiated by property features, neighborhood location, and temporal changes in market rent.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1023/A:1007884628153

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