1. Hedonic analysis of housing prices and development in Kaunas: heritage aspect
- Author
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Rudokas, Kastytis, Landauskas, Mantas, Viliūnienė, Odeta, Gražulevičiūtė-Vileniškė, Indrė, and Kauno technologijos universitetas. Aplinkos inžinerijos institutas
- Subjects
Attractiveness ,Architectural engineering ,Environmental Engineering ,Economics ,Socio-ekonominė paveldo reikšmė ,media_common.quotation_subject ,real estate ,Real estate ,Context (language use) ,Management, Monitoring, Policy and Law ,Kaunas. Kauno kraštas (Kaunas region) ,Socio-economic significance of heritage ,hedonic price method ,Lietuva (Lithuania) ,Socialinė ir ekonominė paveldo reikšmė ,0502 economics and business ,Quality (business) ,050207 economics ,Architecture ,Waste Management and Disposal ,Built environment ,media_common ,050208 finance ,Pastatytas paveldas ,Renewable Energy, Sustainability and the Environment ,05 social sciences ,Kaunas ,Sustainable Development ,Pollution ,heritage context ,Nekilnojamasis turtas ,Cultural heritage ,socio-economic significance of heritage ,built heritage ,Hedoninės kainos metodas ,socio-economical significance of heritage ,Optimal distinctiveness theory ,Hedonic price method ,Business - Abstract
The urban economists have stressed the importance of various amenities for the attractiveness of urban areas for residents and businesses and built cultural heritage can be considered as one of such amenities, the benefits of which should not be overlooked. This research was aimed to analyze the influence of heritage aspect including the heritage status or features of the building and the historic built environment in general on the real estate prices and development in Kaunas using hedonic price method. Two sets of data were collected for the analysis - general, including heritage buildings and including new construction since 2013. The research has demonstrated that heritage status and the year of construction (as older buildings can be considered having heritage features) have no significant positive influence on the real estate prices. Meanwhile, the location, heritage context and the architectural distinctiveness of new architecture have a direct influence on the real estate prices. The heritage context correlates with architectural quality of new construction as well. This reveals the benefits of heritage context both for the real estate developers and households; however, the study shows the unemployed social-economic potential of historic buildings as generators and maintainers of heritage context.
- Published
- 2019