The correlation between residential property prices and urban quality indicators
The study aimed at identifying the fundamental factors influencing the cost of housing as an element of the urban environment quality. Five sets of indicators were considered: the indicators of planning districts; normalized indicators of the urban quality of planning districts; the indicators of the volume and planning characteristics of capital projects; the measures of capital construction capitalization; the indicators of territorial transport services for regulating building density. The authors have selected the most significant of the 300 indicators that could potentially influence the costs. The results show that all the submitted regression models are statistically significant according to the Fisher-Snedecor F-distribution, and contain statistically significant parameters according to the Student's t-test, therefore can be used to identify market price discrepancies. The authors come to the conclusion that the complexity and increase in the number of indicators, as well as the diversity of data types and sources, the formation and further dominance of alternative types and data sources, predetermine the creation of statistical digital twins for Russian subjects and their markets. This will significantly increase the efficiency of such models.
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