Kriminalita jako determinant cen nemovitostí: Prostorová analýza realitního trhu v Praze

This diploma thesis examines the relationship between crime and residential property prices in the territory of the Capital City of Prague in 2023. The aim of the thesis is to assess whether crime, as one of the characteristics of a location, is reflected in housing prices and whether this relationship differs between the sales and rental segments of the market. The empirical analysis uses data on residential properties supplemented with neighbourhood characteristics and spatially located crime data. Methodologically, the thesis is based on the hedonic property price model and spatial econometrics, with the spatial error model (SEM) selected as the final specification. The results suggest that residential property prices are significantly associated not only with the structural characteristics of properties, but also with their location, selected neighbourhood characteristics and crime. In the sales segment, burglaries in the vicinity of a property are the main crime-related factor negatively associated with prices, while in the rental segment the strongest negative relationship is found for violent crime. The thesis therefore shows that crime cannot be understood as a uniform determinant of housing prices, but rather as a spatially and typologically differentiated attribute of location. Themain contribution of the thesis lies in linking data on Prague properties, neighbourhood characteristics and crime within a spatial econometric framework and in extending knowledge of how safety-related location characteristics are reflected in sales and rental housing prices in Prague.