About the Speaker:

Arnaud Simon is Associate Professor of Management Sciences at Université Paris Dauphine, Paris Sciences & Lettres. His research is often carried out from a multidisciplinary perspective (finance, marketing, planning, geography), on subjects such as real estate market prices, the relationship between monetary policies and real estate, perceived building quality, demographics, planning and metropolization.

Abstract:
Part 1: Hedonic Price of Perceived Location: Flight to Centrality And Location Premium

Based on the perceived-quality literature, we propose a new way of controlling location quality when constructing hedonic indices. The location indicator relies on qualitative interviews with market stakeholders and surveys to define weights, resulting in a unique perceived location score. By drastically reducing the number of location variables in hedonic regressions to a single one that incorporates all relevant information, it is possible to construct indices for narrow markets. It also makes possible analysis of the evolution of the marginal price of location and the average level of transaction quality, as well as estimation of specific indices according to various quality segments. In times of recession, the flight to centrality can easily be observed using this synthetic indicator.

Part 2: Demographic And Monetary Determinants of European Real Estate Markets
In this second part, two important determinants of European real estate markets will be examined (for housing and offices). The focus will be on local demographic factors, in particular ageing and metropolization, and on monetary policy. Issues relating to urban planning and intergenerational equality in access to housing will also be addressed.