{"id":3330,"date":"2021-10-01T18:10:02","date_gmt":"2021-10-01T10:10:02","guid":{"rendered":"http:\/\/www.gssinst.org\/irer\/?p=3330"},"modified":"2025-12-03T02:59:21","modified_gmt":"2025-12-02T18:59:21","slug":"an-empirical-method-for-decomposing-the-contributions-of-land-and-building-values-to-housing-value","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2021\/10\/01\/an-empirical-method-for-decomposing-the-contributions-of-land-and-building-values-to-housing-value\/","title":{"rendered":"An Empirical Method for Decomposing the Contributions of Land and Building Values to Housing Value"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3330\" class=\"elementor elementor-3330\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b084dbc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6b084dbc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-47d15be8\" data-id=\"47d15be8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-73767d13 elementor-widget elementor-widget-text-editor\" data-id=\"73767d13\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><div class=\"article_label\">Article<\/div><p class=\"article_title\">An Empirical Method for Decomposing the Contributions of Land and Building Values to Housing Value<\/p><div><p class=\"title_label_large\">Author<\/p><p class=\"title_label_large\">Start Page \/ End Page<\/p><p class=\"title_label\">Volume<\/p><p class=\"title_label\">Issue Number<\/p><p class=\"title_label\">Year<\/p><p class=\"title_label_large\">Publication<\/p><\/div><div><p><!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p><p class=\"title_text_large\">Kuan-Lun Pan, Hsiao Jung Ten, Shih-Yuan Lin, Yu En Cheng<\/p><p class=\"title_text_large\">385 \/ 403<\/p><p class=\"title_text\">24<\/p><p class=\"title_text\">3<\/p><p class=\"title_text\">2021<\/p><p class=\"title_text_large\">International Real Estate Review<\/p><\/div><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Abstract<\/p><p><!-- Abstract Content --><br \/>This paper develops an empirical method that uses two separate housing related components to estimate housing value: land and building. The artificial neural network (ANN) technique is used to iteratively solve for two hedonic models simultaneously by minimizing the difference in the observed total value and the sum of the estimated land and building values. This method enables one to objectively separate housing value into land and building components. Using actual sales transaction data from Taipei City, we estimate the land value as a share of the total housing value. The results show that the land value accounts for a higher share with older properties. The share of the land value of low-rise buildings tends to be higher than that of high-rise buildings. The share of the land value can deviate by 20 percentage points between more or less expensive housing communities within Taipei City.<\/p><p><!-- PDF DownloadLink --><\/p><p class=\"download\"><a href=\"http:\/\/www.gssinst.org\/irer\/wp-content\/uploads\/2021\/10\/v24-no3-3_An-Empirical-Method-for-Decomposing-the-Contributions-of-Land-and-Building-Values-to-Housing-Value.pdf\"><strong>View PDF -https:\/\/doi.org\/10.53383\/100326<\/strong><\/a><\/p><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Keywords<\/p><p><!-- Keywords --><\/p><div><p class=\"p1\">Land Value, Building Value, Housing Value, Apportionment Theory, Artificial Neural Network<\/p><\/div><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Article An Empirical Method for Decomposing the Contributions of Land and Building Values to Housing Value Author Start Page \/&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[225,224],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/3330"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=3330"}],"version-history":[{"count":3,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/3330\/revisions"}],"predecessor-version":[{"id":4690,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/3330\/revisions\/4690"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=3330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=3330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=3330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}