Impact of urban morphology on real estate segmentation: Madrid case study
DOI:
https://doi.org/10.37230/CyTET.2024.221.8Keywords:
House Price Index, Submarket segmentation, Housing, Typomorphology, Urban tissuesAbstract
Housing submarkets represent real estate segments with similar characteristics, often confused with existing administrative areas such as neighborhoods or districts, which do not reflect the real estate structure. This results in non-homogeneous average price measures that are unrepresentative and difficult to interpret. Our proposal combines a discrete and hierarchical geographical segmentation of typomorphic segments along with administrative division. Eight urban types are defined in the city of Madrid, applicable to other urban contexts, and calculated from cadastral data. Experimental analysis confirms the reduction of uncertainty in average prices in 124 out of 136 neighborhoods in Madrid, anticipating its potential application in improving price indices or identifying “sanctuary” areas from a real estate standpoint.Downloads
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