A new spatial hedonic method: The development and applications to housing market

2022 Fiscal Year Final Research Report

• Project/Area Number: 19K13697
• Research Category: Grant-in-Aid for Early-Career Scientists
• Allocation Type: Multi-year Fund
• Review Section: Basic Section 07040:Economic policy-related
• Research Institution: Seijo University (2020-2022); Waseda University (2019)
• Principal Investigator: Sadayuki Taisuke 成城大学, 経済学部, 准教授 (90800920)
• Project Period (FY): 2019-04-01 – 2023-03-31
• Keywords: ヘドニック / 空き家 / 事故物件 / 外部性 / 発生要因

Outline of Final Research Achievements

The purpose of this project is to explore analytical methods for policy evaluation utilizing detailed geographic and real estate information to contribute to solving various regional and urban problems. Using cross-sectional data, negative externalities were identified for both stigmatized properties and vacant houses. In the study of vacant houses, it was estimated that the removal of one vacant house in particularly poor condition could be expected to increase property taxes by about 1 million yen per year in a municipality of Tokyo. In addition, examining factors of the occurrence of vacant houses, it was indicated that homeowners of houses that do not meet the building standard have relatively high reservation values on their properties, resulting in a high likelihood that the houses would be left vacant.

Free Research Field

都市経済学

Academic Significance and Societal Importance of the Research Achievements

孤独死や空き家問題への対策には多大な公的資金や人的資源を要するため、科学的根拠に基づいて費用対効果の高い政策を検討することが重要である。本研究は、事故物件や空き家などの発生要因や外部不経済を定量的に評価することで、エビデンスベースに基づいた効率的な対策を吟味するための有用な基礎材料を提供しようとするものである。例えば、空き家の外部不経済に関する研究では、状態の悪い空き家を除去することで年間100万円ほどの固定資産税の増収が見込まれることが推計された。また、空き家が放置される要因については、再活用に係る条件の違いが空き家所有者の留保価格と市場価格に乖離を生じさせていることを明らかにした。