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Buildings 2017, 7(4), 95; doi:10.3390/buildings7040095

Housing Affordability in Metropolitan Areas. The Application of a Combination of the Ratio Income and Residual Income Approaches to Two Case Studies in Sicily, Italy

Department of Architecture, University of Palermo, Palermo 90128, Italy
Received: 31 August 2017 / Revised: 20 October 2017 / Accepted: 23 October 2017 / Published: 26 October 2017
(This article belongs to the Special Issue Real Estate Economics, Management and Investments)
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Abstract

Housing affordability problems have become more serious over the course of the last few decades and are now also affecting the middle-class, despite the fall in prices on the housing market. This study proposes a methodology to assess threshold-income as an index for measuring housing affordability by applying a combination of the ratio income and residual income approaches. The methodology is applied to two particular areas of Sicily in Italy as case studies consisting of medium-size metropolitan areas located in a less developed European region. The areas have been chosen on the basis of their different territorial structure: a polarized area that comprises a high-density city centre and a polynuclear urban region. The results are diversified for income level, as well as for town and urban zone, and allow us to compare the housing affordability problems between towns belonging to the same metropolitan area. View Full-Text
Keywords: housing affordability; ratio income approach; residual income approach; threshold-income; combined income approach; real estate market; metropolitan area housing affordability; ratio income approach; residual income approach; threshold-income; combined income approach; real estate market; metropolitan area
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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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Napoli, G. Housing Affordability in Metropolitan Areas. The Application of a Combination of the Ratio Income and Residual Income Approaches to Two Case Studies in Sicily, Italy. Buildings 2017, 7, 95.

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