Quantification of the immigration effects on rents in Canton Zurich between 2009-2013
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The effect of immigration on rents in Canton Zurich between 2009 and 2013 is quantified with the help of hedonic pricing models. Two groups of models are created: the first one uses the monthly gross rent as dependent variable, the second one the rental price per m2. They both take into account foreigners in different definitions and groupings: Foreigners, Schengen, North-western Schengen, Southern/Eastern Schengen and Outside Schengen. These models are extended into SAR models, in order to account for the spatial autocorrelation of the data. The SARerror model, using a neighborhood weighting matrix computed with 10 nearest neighbors and accounting for a reduction of influence based on the distance to the observation point, appears to be the most appropriated regression model. All foreigner categories show an inflationary effect on rents, with the exception of the category Southern/Eastern Schengen, which leads to a decrease of 0.19% of the rents, respectively of 0.10 CHF/(month·m2) for a 1% point increase of this population. The group Northwestern Schengen has the higher effect, e.g. +2.61% of the rent, respectively +0.61 CHF/(month·m2), for a 1% point increase. The other tested categories seem, in contrast, to have only a marginal influence on the dependent variables Show more
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PublisherIVT, ETH Zürich
SubjectImmigration; Real estate; Housing price; Spatial regression; Hedonic Pricing
Organisational unit03521 - Axhausen, Kay W.
NotesSemester Project Spatial Development and Infrastructure Systems.
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