Living in a Smart City Affects the Value of a Dwelling?

Abstract

From 1998 to 2007, Spain has experienced one of the most important housing booms among developed economies. In this line and against the background of economic and technological changes caused by the globalization and the integration process, the cities face the challenge of combining competitiveness and sustainable urban development simultaneously. Smart cities are those that have a system of innovation and networking to give cities a model for improving economic and political efficiency by allowing the social, cultural, and urban development. The aim of this chapter is double: first, to know if the physical characteristics and location of a dwelling affect the selling price of the same, and second, to know if living in a smart city affects the value of a dwelling, and if the buyer is willing to pay more for a dwelling if it is located in a smart city.