Shifting prestige of neighbourhoods as
reflected by the housing price
THE CASE OF BUDAPEST
THE CASE OF BUDAPEST
Adrienne
Adrienne CsizmadyCsizmady Ph.DPh.D. (ELTE & . (ELTE & HungarianHungarian AcademyAcademy ofof SciencesSciences) ) G
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Housing Price Determinants
• House prices vary according to the size, guality, and character of a unit’s structure
• Units with similar physical characteristics will vary enormously in price by location.
• Location characteristics can account for more than half of the overall value of a house. These include:
– commuting time or access to jobs, public services – neighborhood quality,
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Housing Price Determinants
• The premium for property at one location should reflect the present discounted value of the consumer’s utility, or cost savings, from that location relative to others.
• The relative prices of different properties should change
– if consuner valuations of particular physical or locational attributes change
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Development History
1980
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Ingatlanpiac – ltp-k
Development History
Housing
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Development History
Residential
Residential DensityDensity. 1990. 1990
1
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Blue
Blue
collar
collar
(%), 1990
(%), 1990
White
White
collar
collar
(%), 1990
(%), 1990
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Urban blocks, where the share of 60+ age group > 25%, 2001
Neighbourhood Status
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A magas státuszúak arányának változása 1990-2001
Neighbourhood Status
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Neighbourhood Status
K
K--meansmeansclusteringclusteringresultsresultsforfor 11 status
11 status groupsgroupsininstatisticalstatistical
neighbourhoods
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Neighbourhood Status
K
K--meansmeansclusteringclusteringresultsresultsforfor 11 status
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Population
Population changechangeininthethe GMA
GMA ofofBudapest 1990Budapest 1990--2001 2001
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Neighbourhood Status
Housing
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Change of average housing prices 1997-2004
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Change of average housing price in housing estates 1989–2006
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Change of average dwelling price in multiple family housing 1997-2006
19 . tábla. A lakások tulajdonviszony szerinti megoszlása
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Housing construction in Budapest, 1990-2006
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Newly built dwellings per 10 thousand inhabitants
