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Buildings 2017, 7(3), 67; doi:10.3390/buildings7030067

An Analysis of the Influence of Property Tax on Housing Prices in the Apulia Region (Italy)

1
Department of Civil Engineering Sciences and Architecture, Polytechnic University of Bari, Via Orabona 4, 70125 Bari, Italy
2
Department of Architecture and Design, Sapienza University of Rome, Via Flaminia 359, 00196 Rome, Italy
*
Author to whom correspondence should be addressed.
Received: 11 July 2017 / Revised: 24 July 2017 / Accepted: 25 July 2017 / Published: 27 July 2017
(This article belongs to the Special Issue Real Estate Economics, Management and Investments)
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Abstract

In this research, the socio-economic determinants of housing market values have been examined, highlighting their respective contributions to the formation of the property prices and, in particular, verifying the property tax liability. The property tax is a factor that could determine, through modest fluctuations, the revival of the property demand, generating positive effects also on the construction sector, which has been currently affected by the negative real estate contingency. The functional correlations of housing prices with the main socio-economic variables considered (i.e., housing rents, household incomes, household consumptions, property taxes, population and mean population age) have been explained through an econometric analysis implemented with an innovative methodology that uses multi-objective genetic algorithms. The analysis is contextualized to the Apulia region in the South of Italy, and the population of the sample studied consists of 258 individuals, corresponding to the municipalities of the region. In particular, the data collected for each variable considered refer to two different moments, that is, the year 2011 and the year 2015, in order to take into account the fiscal tightening that has occurred in Italy in this period of time. The elaborations carried out have allowed us to enucleate interesting functional relationships between property prices and the explanatory variables considered. View Full-Text
Keywords: property tax; housing rents; incomes; housing prices; genetic algorithms; econometric analysis property tax; housing rents; incomes; housing prices; genetic algorithms; econometric analysis
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Tajani, F.; Morano, P.; Torre, C.M.; Di Liddo, F. An Analysis of the Influence of Property Tax on Housing Prices in the Apulia Region (Italy). Buildings 2017, 7, 67.

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