In this paper, newly built condominium price hedonic models in Tokyo metropolitan area are estimated. The models are fitted for three areas, which are spanned from the CBD (Tokyo and Shinjuku station) to three prefectures, Chiba, Saitama, and Kanagawa, to make clear the price difference proportional to the distance from the CBD, and to make quality adjusted price indices. From the estimated results, we find that quality adjusted prices are declining in three areas from 1993 to 2000, and that there are nonlinear relationship between the price and the distance from the CBD to Kanagawa area.
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