Research Papers
Academic-style analyses of the Spanish new-build property market, authored by Henrik Kolstad at Avena Terminal. All papers use live data from the platform dataset.
Hedonic Pricing of Spanish New-Build Residential Properties: A Cross-Sectional Analysis of 2026 Market Data
Applies hedonic pricing methodology to a cross-sectional dataset of new-build residential properties across coastal Spain. Decomposes asking prices into implicit valuations of structural attributes including built area, bedroom count, beach proximity, pool availability, and regional location.
Rental Yield Variance Across Costa Blanca Municipalities: A Statistical Decomposition of Return Heterogeneity
Examines the spatial distribution of estimated gross rental yields across municipalities on the Costa Blanca. Computes town-level mean yields, standard deviations, and coefficients of variation to reveal substantial yield heterogeneity both between and within municipalities.
The Distribution of Developer Discounts to Market Value in Spanish New-Build Properties: Evidence from 2026 Listing Data
Analyses the distribution of asking-price discounts relative to estimated market values for new-build residential properties. Examines discount rates across property types, regions, and price segments to reveal systematic developer pricing strategies.
Beach Proximity Premium Decay in Spanish Coastal Property Markets: A Distance-Band Analysis of Price Per Square Metre
Quantifies the relationship between beach distance and residential property prices per square metre in coastal Spain. Demonstrates a monotonically decreasing price gradient with rapid premium decay between 500 metres and 2 kilometres from the coastline.
Developer Years of Experience as a Completion Risk Proxy: Evidence from Off-Plan and Key-Ready Properties in Spain
Investigates whether developer tenure in the market serves as a useful proxy for project quality and completion reliability. Analyses the relationship between developer experience and property investment scores across off-plan versus key-ready inventory.