Search Results (154)

Short-term rental housing plays an important role in the housing market by increasing property utilization and generating income opportunities for property owners. This study investigates the key attributes associated with Airbnb occupancy rates using listing data from five major U.S. cities. Data mining and machine learning techniques, including Random Forest, XGBoost, Deep Neural Networks (DNN), and hierarchical cluster analysis, were applied to identify factors associated with occupancy rate variation. Random Forest achieved the best performance (R² = 23.92%). Feature importance analysis identified price, location (city), listing capacity, amenities, and host response rate as the variables most strongly associated with occupancy rates. Cluster analysis supported these findings by identifying a dominant group of moderately priced listings with smaller accommodation capacity, more amenities, higher host responsiveness, and an average occupancy rate of 57%. These findings provide data-driven insights that may help property owners optimize listing performance and improve occupancy rates. Full article

Why are essential workers (also known as key workers) priced out of the urban areas where essential services are concentrated? This paper addresses that question by linking residential sorting to the governance of land and housing markets in Auckland, New Zealand. Drawing on bid rent theory and motivated by Crane’s theoretical framework, this study examines how households trade off urban accessibility against housing costs with varying degrees of job location uncertainties and time pressure. The analysis uses the micro-level household data from Statistics New Zealand (Stats NZ)’s Integrated Data Infrastructure (IDI) to examine how key-worker households position themselves within the city’s rental market relative to other working households. The results show a clear urban land rent gradient: rents fall with distance from the city centre. However, access to the central location is not evenly distributed across workers. Key workers, whose jobs are typically tied to more fixed workplaces, are more inclined to live farther from the city centre to lower housing costs. By contrast, workers facing tighter time constraints, especially those working longer hours, show a stronger preference for living near the CBD to improve work proximity and reduce commuting burdens. This pattern remains evident among private vehicle commuters, suggesting that time pressure, rather than transport mode alone, is an important factor shaping residential location choice. The paper argues that this is not simply a housing market outcome but also a land-governance problem. When central land values rise without corresponding housing options for key workers, cities risk pushing socially necessary labour towards peripheral areas. The findings highlight the need for land-use and housing interventions that improve the spatial match between where key workers live and where urban services are most needed. Full article

Decarbonising the residential building sector requires not only technical solutions, but also financially viable delivery models. This paper examines the economic performance of Energy Plus Service (EPS) schemes applied to deep renovation projects under uncertainty, with particular attention to the role of project scale and market conditions. The analysis is based on a portfolio of 21 residential buildings in Northern Italy and combines a Discounted Cash Flow (DCF) model with Monte Carlo simulation. Key sources of uncertainty include renovation costs, post-retrofit energy performance, rental values, and electricity prices, allowing for the estimation of probabilistic Net Present Value (NPV) outcomes. The results show a clear impact of residential asset spatial scale on financial outcomes. Small projects are generally unprofitable, while medium-sized assets are highly sensitive to uncertainty. Larger projects, instead, display a much higher likelihood of positive financial outcomes. Sensitivity analysis indicates that financial performance is driven mainly by investment costs and rental income, while energy-related variables play a more limited role. The findings suggest that the viability of EPS models depends as much on market conditions as on technical performance, pointing to a potential misalignment between energy policy objectives and private investment incentives. Results suggest that projects approaching 160 m² are more likely to achieve a 50% probability of a positive NPV, indicating a potential scale threshold beyond which EPS schemes become significantly more bankable and below which aggregation or additional de-risking measures are likely to be required. Full article

Formally stipulating rental terms in farmland transfer contracts is essential to safeguarding transacting parties’ rights, anchoring market price signals, and underpinning the rule-based governance of rural land markets. Drawing on survey data from 1496 rural households across three Chinese provinces, this study empirically examines how connection strength between transacting parties shapes the decision to formally stipulate rental terms in farmland transfer contracts. Baseline estimates show that greater connection strength is significantly and negatively associated with the probability of formal rental term stipulation, a pattern robust to alternative model specifications and variable operationalizations. Mechanism analysis reveals that stronger connections inhibit formal stipulation by concurrently heightening reputational constraints among parties suppressing demand for formal enforcement mechanisms and attenuating perceived transactional risk, which erodes the perceived value of the risk-bounding function that written clauses provide. Heterogeneity analysis further shows that this inhibitory effect is concentrated among ordinary farm household transfers and disappears among new-type agricultural business entities, where institutional rationality crowds out connection-based governance logic. Beyond its direct effect on contract formalization, greater connection strength indirectly undermines the price-anchoring function of written agreements, exposing realized rents to systematic connection-based discounting. These findings carry direct implications for the demand-side redesign of contract formalization policy and the development of county-level rental price guidance systems in rural China. Full article

Physical manufacturing and research infrastructures are essential for advanced innovation but often remain inaccessible to SMEs, start-ups, and research institutions that cannot justify ownership of capital-intensive assets. This study examines whether platform-mediated infrastructure sharing can function as a sustainable open-innovation mechanism in advanced manufacturing. Using the SCIP/SYNPRO platform developed in the SYNERGY and IDEATION projects, an exploratory case-study design combines descriptive analysis of a registry of 290 infrastructure items across 11 countries with qualitative analysis of 23 documented access requests, interaction records, and pilot reports. The results show that the Provider–Taker model facilitates observable access-enabling interactions, including infrastructure publication, request submission, provider–taker communication, negotiation, and selected documented use, although it does not measure population-wide access outcomes. Sharing potential is uneven: modular and emerging technologies, especially VR/AR infrastructures, attract higher request intensity than production-integrated assets. Users and providers favour negotiated access, flexible pricing, operator support, and contractual clarification rather than standardised rental models. Qualitative evidence shows that value is created through access to otherwise unavailable equipment, postponed investment, experimentation, technology familiarisation, student training, capability development, and new inter-organisational research links. The findings indicate that infrastructure sharing can support more resource-efficient innovation but depends on discoverability, governance, trust, and support mechanisms to scale. Full article

China is the world’s largest soybean consumer, yet persistently low domestic yields and weak economic returns limit supply. Current efforts mainly focus on technology, but the factors influencing yield and profitability under real farm conditions remain poorly understood. Here, we integrate 609 farmer surveys with machine learning and optimization techniques to identify the coupled biophysical and socioeconomic factors across China’s two major production regions, using Heihe and Jining as the representative cities in Northeast China and Huang-Huai-Hai Plain. We show that soybean performance is shaped by both biophysical and socioeconomic factors. Education consistently influences yield in both regions, while farm size plays a significant role in Jining. Despite similar yields (2.85 vs. 2.87 Mg ha⁻¹), the determinants differ: In Heihe, performance is mainly influenced by variety, pesticide, herbicide and cropping patterns, whereas in Jining it is driven by precipitation, mechanization, temperature and irrigation. Profitability differs markedly, with higher net returns in Jining (4640 CNY ha⁻¹) compared to Heihe (2030 CNY ha⁻¹), reflecting structural differences in prices and land rental costs. Optimization results suggest that coordinated management improvements could increase profits by 1142 to 1859 CNY ha⁻¹. Overall, the findings highlight that profitability, rather than yield alone, is the primary constraint shaping soybean systems, providing a data-driven framework for region-specific optimization and policy design. Full article

The rapid tourism development in the Municipality of Athens significantly impacts both the local economy and the daily lives of its residents. This study investigates the Social Carrying Capacity (SCC) of Athens by exploring the perceptions, experiences, and attitudes of local citizens and professionals towards the tourism phenomenon. A primary quantitative study was conducted between July and October 2024, utilising a structured online questionnaire based on a stratified random sampling method across the Municipal Communities of Athens, yielding 787 valid responses. The findings reveal a dichotomy in public perception: while the majority recognises the positive economic contributions of tourism—particularly in the catering and hospitality sectors—significant concerns are raised regarding negative socio-environmental impacts. The most severe consequence identified is the surge in housing costs and rent prices, predominantly driven by short-term rentals, followed by increased pressure on public infrastructure, cleanliness, and traffic congestion. Despite these challenges, a considerable portion of the respondents maintains a generally tolerant attitude towards visitors and believes there is still a margin for further tourism growth. The study concludes that to ensure sustainable urban tourism, policymakers must implement targeted strategies, including the regulation of short-term rentals and substantial investments in public infrastructure, thereby balancing economic benefits with residents’ quality of life. Full article

Housing markets display geographical linkages that contravene conventional regression assumptions; yet, Central and Eastern European towns are markedly underrepresented in spatial econometric research. This study provides a systematic spatial econometric analysis of Zagreb’s housing market. It looks at both asking sale and rental prices throughout the city’s 17 administrative districts. There are five model specifications used in the analysis: Ordinary Least Squares (OLS), Spatial Lag of X (SLX), Spatial Autoregressive Model (SAR), Spatial Error Model (SEM), and Spatial Durbin Model (SDM). The findings demonstrate significant positive spatial autocorrelation in both markets: Global Moran’s I = 0.29 (p = 0.007) for sales and 0.42 (p < 0.001) for rents. LISA analysis finds important groups of high-priced homes in the center districts and lower-priced homes on the edges. Spatial models significantly surpass OLS: SLX exhibits AIC enhancements of 9.90 (sales) and 20.20 (rentals), but SAR and SEM yield no enhancements, suggesting that local spillover effects from adjacent characteristics prevail over global spatial diffusion or correlated shocks. The higher Moran’s I and AIC gains in rental markets show that there are different spatial processes for different types of tenure. These results address a significant empirical deficiency in post-socialist housing research, illustrate that neglecting spatial dependencies may lead to biased estimates and reduced model performance, and furnish methodologically sound evidence that spatial econometric techniques are essential for accurate modeling for precise urban housing analysis in intermediate-sample scenarios. Policy implications stress the need to use spatial approaches in choices about property value, forecasting, and urban planning. Full article

This study examines the relationship between house prices and the factors driving their growth during the transition from a long-standing currency board regime to Eurozone membership. The main objective is to identify and quantify the key factors explaining the variation in house price growth in Bulgaria under conditions of prolonged currency convergence. The study applies a set of econometric techniques, including stationarity tests (ADF and KPSS), diagnostic checks for normality, serial correlation and heteroscedasticity, and robustness checks. The study is based on 40 quarterly observations covering the period 2015Q4–2025Q3 and 48 selected predictors of the General house price index. The final ARIMAX(0,2,1) model is estimated using second-differenced data. The model includes a first-order moving average component and three exogenous regressors: the owner-occupiers’ housing expenditures, the actual rentals for housing in Bulgaria and the homeowners’ utility expenses. The model explains 87% of the variation in house price acceleration, with a comparatively low mean squared error. The diagnostic analysis confirms model adequacy. The three exogenous regressors are statistically significant at the 1% level with strong and stable effects on house price dynamics. No statistically significant relationship is found for the set of traditional macroeconomic, demographic, financial, and sectoral factors. The results show that during Bulgaria’s transition from a currency board to the Eurozone, the sustained house price growth was driven by country-specific factors. The three statistically significant determinants of the house price acceleration in Bulgaria reflect, respectively, the active investment behaviour of homeowners in improving existing properties, the rational assessment by housing market participants of the balance between mortgage and rental payments, and the burden of utility and maintenance costs borne by owners and tenants, depending on property size and energy efficiency. The first factor is most influential for homeowners, the second for tenants, and the third has a similarly significant impact on both groups. Full article

Agricultural land covers nearly half of the Slovak Republic and shows significant spatial variation in soil quality. Persistent undocumented ownership has resulted in most land being cultivated by tenants, making lease relations central to farmland governance and increasing the role of legal regulation. In this context, the aim of this research is to assess the economic adequacy of the statutory minimum rent mechanism by analyzing its alignment with market-based rents and examining whether soil quality, on which the minimum rent is based, also significantly influences market rent levels. The analysis draws on data on customary rents published annually by the relevant ministry and administrative land price data established by law. Inductive statistical analysis and regression modeling using the correlation coefficient were applied. Results suggest that the statutory minimum rent does not consistently align with prevailing market rents despite recent legislative amendments and that its formal link to soil quality does not appear to be directly proportional. Consequently, setting minimum rents solely based on soil quality may not fully reflect prevailing market conditions and could potentially raise questions regarding its compatibility with property protection standards as interpreted in the case law of the European Court of Human Rights (ECtHR). The findings invite further reflection on the current regulatory approach to farmland rent, including the possibility of better aligning legal standards with market conditions or reassessing the functional role of the statutory minimum within the existing framework. The results indicate that the Slovak farmland rental market demonstrates characteristics consistent with a relatively autonomous market mechanism. Full article

Intra-urban commuting plays a fundamental role in shaping urban spatial structure and daily mobility patterns. Existing studies have largely explained commuting flows using attribute-based or distance-centred approaches. Such approaches overlook the interdependent and relational nature of commuting within complex urban systems. This study constructs a subdistrict-level commuting network using anonymised mobile phone signalling data from Hangzhou, China, and a valued exponential random graph model (valued ERGM) to examine how commuting flows are generated through the interaction of network self-organization, local job-housing conditions, and multi-dimensional proximity. The results reveal strong endogenous dependence exemplified by reciprocal commuting ties. Employment agglomeration and public rental housing provision are associated with stronger integration of subdistricts within the commuting network, while high housing prices and certain residential amenities are associated with reduced inter-subdistrict commuting. Beyond geographic distance, metro connectivity, administrative affiliation, and social interaction are significantly associated with commuting flows. This study advances a relational explanation of intra-urban commuting and demonstrates the methodological value of valued ERGMs for analysing weighted urban flow networks. The findings have implications for integrated transport, housing, and governance strategies, particularly transit-oriented development, cross-jurisdictional coordination, and the strategic siting of affordable housing, aimed at promoting more locally embedded and sustainable urban mobility. Full article

Amidst Portugal’s ongoing housing crisis, particularly pronounced in the Lisbon Metropolitan Area, thousands of residential units remain vacant. This article investigates why property owners often refrain from placing these homes on the rental market, despite high demand and rising prices. Drawing on empirical data from successive editions of the ALP (Lisbon Landlords Association) Barometer and framed by the literature on housing financialization, institutional trust, and patrimonial ownership cultures, the study shows that vacancy is not merely a result of speculation or neglect. Rather, it emerges as a rational response to a complex interplay of regulatory instability, legal mistrust, and deeply rooted socio-cultural norms. Landlords act not only as economic agents but also as custodians of family heritage, navigating uncertainty in a legal and symbolic environment increasingly perceived as hostile. The article argues that mobilizing Lisbon’s empty housing stock requires more than tax incentives or coercive measures. It demands rebuilding trust, ensuring legal predictability, and acknowledging the cultural meanings that shape property decisions. Policy recommendations include stabilizing rental legislation and designing culturally sensitive engagement strategies for small landlords. Full article

The intangible accessibility of real estate markets via platforms like Airbnb profoundly influences the urban development industry, propelled by the dynamics of short- to medium-term rentals for tourists. The suggested study aims to examine the association between the prices of listed properties and the influence of proximity to tourist attractions on location-driven pricing. The city of Rome acts as a case study from which to derive pertinent conclusions and proof on the phenomena intended for exploration. The methodological approach relies on a comprehensive classification of locations recognized as tourist attractions, drawn from public resources, travel guides, search engines, and online trends. The identified attractionswere subsequently classified to analyze how spatial proximity influences price formation. Data on short-term rental listings were obtained from the Inside Airbnb platform. The results enable the characterization of Rome as a polycentric urban system, composed of multiple tourism hubs whose spatial interactions are closely associated with prevailing hotel pricing patterns. This study emphasizes the influence of tourist demand on land values, a phenomenon intricately connected to urban gentrification and the capitalization of the real estate market. These findings enhance comprehension of tourism’s impact on the geographical and economic structure of cities. Full article

Understanding the forces that shape farmland rental prices in major agricultural regions such as the U.S. Corn Belt is essential for evaluating the economic and environmental resilience of agricultural regions. This study develops an integrated framework that combines spatial modelling with uncertainty-aware spatial analysis to examine how macroeconomic conditions influence rental dynamics across the core Corn Belt. Using geographically weighted regression, the analysis captures spatial variation in the sensitivity of rental prices to oil prices, interest rates, and economic activity, revealing substantial geographic heterogeneity in macroeconomic exposure. The results reveal pronounced spatial heterogeneity in rental price responses, with geographically weighted models consistently outperforming global linear specifications. Despite strong spatial variation in rental sensitivities, neither prediction uncertainty nor maize yield volatility displays a clear regional pattern, indicating that production stability and model reliability are highly localised. By linking spatially varying rent sensitivities with indicators of economic pressure and production instability, this study provides new insights into agricultural sustainability risk. The findings highlight the importance of place-based policy and region-specific risk management under increasing macroeconomic volatility. Full article

The purpose of this study is to explore the spatial impact of short-term rental activity on house prices in the city of Athens, Greece. It is well established that the increasing number of short-term rentals has a number of consequences on the functions and living standards in several cities around the world. An aspect that is not studied very often is the effect of short-term rentals on house prices and, especially, the spatial distribution of this effect. In this paper, spatial regression models are presented, incorporating several of the commonly employed house characteristics, such as structural and locational characteristics, with the addition of the short-term rentals as an explanatory factor. Geographically Weighted Regression (GWR) models, in particular, produce the geographic distribution of regression coefficients, allowing for the study of the short-term rentals’ influence on house prices at the local level. Furthermore, spatial regression models are compared to global linear models. Although global models indicate that short-term rentals have an overall positive contribution on house prices, Geographically Weighted Regression, through the local regression coefficients, reveals spatial patterns with mixed effects, both positive and negative. The greater positive impact is observed in the area around the historical center of the city where short-term rentals’ presence is intense. Full article