Correlation between building attributes and room rates for private home rentals converted from quaint old houses in Osaka City through a hedonic approach

Abstract

Two groups of hedonic price models were constructed, one for quaint old private home rentals and the other for non-quaint old private home rentals. In the case of quaint old private home rentals, a higher presence of traditional design corresponded to higher room rates. In the case of non-quaint old private home rentals, closer distances to a train station and higher roadside land prices corresponded to higher room rates. A potential market was found for private home rentals of homes converted from old houses that had lost their market value as residences.