Figure 1
A scatter plot illustrates systematic price deviations by postcode in Tirol using a random-intercept model. The x-axis represents longitude, and the y-axis represents latitude. Each data point indicates a postcode area with sufficient market coverage. The size of the data points corresponds to the number of observations, ranging from 100 to 400. The color of the data points represents the percentage of price deviation, with a gradient from blue (0 percentage deviation) to red (100 percentage deviation). The plot shows a general trend where price deviations increase with longitude. There are clusters of data points with varying sizes and colors, indicating different levels of price deviations and observations across different postcode areas. All values are approximated.Systematic price per m2 deviations at postcode level in Tirol after controlling for property-related characteristics. The effects represent residual location components from a random-intercept model and are shown only for postcode areas with sufficient market coverage. The map is illustrative and does not constitute an external validation exercise. Source(s): Authors’ own work