HOW MUCH DOES A MINUTE OF COMMUTING TIME COST? AN EXAMINATION OF PROPERTY PRICES IN RELATION TO DISTANCE TO THE CITY CENTER IN PRAGUE, CZECH REPUBLIC
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21110%2F17%3A00317211" target="_blank" >RIV/68407700:21110/17:00317211 - isvavai.cz</a>
Result on the web
<a href="http://www.civilengineeringjournal.cz/archive/issues/2017/2017_4/4-2017-0044.pdf" target="_blank" >http://www.civilengineeringjournal.cz/archive/issues/2017/2017_4/4-2017-0044.pdf</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.14311/CEJ.2017.04.0043" target="_blank" >10.14311/CEJ.2017.04.0043</a>
Alternative languages
Result language
angličtina
Original language name
HOW MUCH DOES A MINUTE OF COMMUTING TIME COST? AN EXAMINATION OF PROPERTY PRICES IN RELATION TO DISTANCE TO THE CITY CENTER IN PRAGUE, CZECH REPUBLIC
Original language description
This paper sets out to explore the strength of the relationship between the proximity of a property to the city center and its price. Buyers are willing to pay extra for apartments or houses closer to the city center, but the extent of this willingness remains largely unexplored. Our research question is: How much does a minute of commuting time influence the price of an apartment in Prague? In other words, with every minute of commuting time, how much more is paid for a house or an apartment closer to the central business district (CBD)? Our analysis has found that on average, every minute of commuting time closer to the city center corresponds to an additional cost of CZK 43,390.45 for an average sized apartment in Prague. A regression analysis is graphically plotted in the Chart 1. We have also found that this relationship changes according to distance from the city center. For a commuting time of 1-20 minutes to the city center, the price increase is the highest: CZK 259,466.18 per minute. However, this figure is only CZK 55,809.01 for the interval of 21-40 minutes, and CZK 33,924.29 per minute for the interval of 41-55 minutes.
Czech name
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Czech description
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Classification
Type
J<sub>ost</sub> - Miscellaneous article in a specialist periodical
CEP classification
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OECD FORD branch
20101 - Civil engineering
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
The Civil Engineering Journal
ISSN
1805-2576
e-ISSN
1805-2576
Volume of the periodical
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Issue of the periodical within the volume
4
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
13
Pages from-to
555-567
UT code for WoS article
000424522300016
EID of the result in the Scopus database
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