[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/vrs/foeste/v19y2019i1p56-72n5.html
   My bibliography  Save this article

Identification of New Urban Centers by Using Taxonomic Methods

Author

Listed:
  • Makowska Anita

    (Wrocław University of Economics, Department of Financial Investments and Risk Management, Komandorska 118/120 Street, 53-345Wrocław)

Abstract
Research background: In recent years, the return of city and suburbs dwellers to city centers has been observed. This phenomenon is caused in particular by the growing costs of transport and time spent on commuting. From this point of view, it seems interesting to observe the prices of properties located in the suburbs in relation to the prices of properties located around city centers and to examine their similarity. The center, however, should not be identified solely as the Old Town but rather as a certain area in which the professional, cultural and private life of the citizens is concentrated.Purpose: The purpose of this paper is to find a method of identifying new city centers that allow developers to create a pricing map and, consequently, to determine the appropriate price level on the primary market. At the same time, it should help appraisers to capture the relationship between values of the properties located in different parts of a city.Research methodology: The purpose of this study is achieved by deploying a taxonomic method (the modified density method) to identify new (or created) urban centers. The analysis is applied to the city of Wrocław.Results: The findings reveal that it is clearly possible to identify visually clusters constituting new city centers by using the applied method. It is also possible to indicate in an analytical way the central location of a given center. The main advantage of the applied approach is that it is of universal use, suitable both for cities where one city center dominates, and for those where the dominant center is not present and is represented, for example, by the coastline of a sea.Novelty: The density measure presented in the paper allows identifying city centers in an analytical way, based on given conditions. Habitants usually feel where the local center is, but it is not obvious how the prices of residentials might spread out in space according to those centers. The measure can be easily modified by introducing new features that characterize the centers.

Suggested Citation

  • Makowska Anita, 2019. "Identification of New Urban Centers by Using Taxonomic Methods," Folia Oeconomica Stetinensia, Sciendo, vol. 19(1), pages 56-72, June.
    • Handle: RePEc:vrs:foeste:v:19:y:2019:i:1:p:56-72:n:5
    DOI: 10.2478/foli-2019-0005
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/foli-2019-0005
    Download Restriction: no
    File URL: https://libkey.io/10.2478/foli-2019-0005?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    city center; urban center; real estate market; similarity; valuation;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:foeste:v:19:y:2019:i:1:p:56-72:n:5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.