Descriptive statistics.
\r\n\tThe aim of this book will be to describe the most common forms of dermatitis putting emphasis on the pathophysiology, clinical appearance and diagnostic of each disease. We also will aim to describe the therapeutic management and new therapeutic approaches of each condition that are currently being studied and are supposed to be used in the near future.
",isbn:null,printIsbn:"979-953-307-X-X",pdfIsbn:null,doi:null,price:0,priceEur:0,priceUsd:0,slug:null,numberOfPages:0,isOpenForSubmission:!1,hash:"278931ae110500350d8b64805c70f193",bookSignature:"Dr. Eleni Papakonstantinou",publishedDate:null,coverURL:"https://cdn.intechopen.com/books/images_new/7934.jpg",keywords:"Atopic eczema, Interleukin, Topical corticosteroids, Hand eczema, Blisters, Pruritus, Irritant contact dermatitis, Allergic contact dermatitis, Discoid eczema, Sebaceous glands, Inflammatory dermatitis, Facial rash",numberOfDownloads:null,numberOfWosCitations:0,numberOfCrossrefCitations:0,numberOfDimensionsCitations:0,numberOfTotalCitations:0,isAvailableForWebshopOrdering:!0,dateEndFirstStepPublish:"February 5th 2019",dateEndSecondStepPublish:"March 19th 2019",dateEndThirdStepPublish:"May 18th 2019",dateEndFourthStepPublish:"August 6th 2019",dateEndFifthStepPublish:"October 5th 2019",remainingDaysToSecondStep:"2 years",secondStepPassed:!0,currentStepOfPublishingProcess:5,editedByType:null,kuFlag:!1,biosketch:null,coeditorOneBiosketch:null,coeditorTwoBiosketch:null,coeditorThreeBiosketch:null,coeditorFourBiosketch:null,coeditorFiveBiosketch:null,editors:[{id:"203520",title:"Dr.",name:"Eleni",middleName:null,surname:"Papakonstantinou",slug:"eleni-papakonstantinou",fullName:"Eleni Papakonstantinou",profilePictureURL:"https://mts.intechopen.com/storage/users/203520/images/system/203520.jpg",biography:"Dr. med. Eleni Papakonstantinou is a Doctor of Medicine graduate and board certified Dermatologist-Venereologist. She studied medicine at the Aristotle University of Thessaloniki, in Greece and she continued with her dermatology specialty in Germany (2012-2017) at the University of Magdeburg and Hannover Medical School, where she completed her dissertation in 2016 with research work on atopic dermatitis in children. During this time she gained wide experience in the whole dermatological field with special focus on the diagnosis and treatment of chronic inflammatory skin diseases and also the prevention and treatment of melanocytic and non-melanocytic skin tumors. Her research interests were beside atopic dermatitis and pruritus also the pathophysiology of blistering dermatoses. In addition to lectures at german and international congresses, she has published several articles in german and international journals and her work has been awarded with various prizes (poster prize of the German Dermatological Society for the project: 'Bullous pemphigoid and comorbidities' (DDG Leipzig 2016), 'Michael Hornstein Memorial Scholarship' (EADV Athens 2016), travel grant (EAACI Vienna 2016). Since 2017, she works as a specialist dermatologist in private practice in Dortmund, in Germany. Parallel she co-administrates an international dermatologic network, Wikiderm International and she writes a dermatology public guide for patients, as she is convinced that evidence-based knowledge has to be shared not only with colleagues but also with patients.",institutionString:"Private Practice, Dermatology and Venereology",position:null,outsideEditionCount:0,totalCites:0,totalAuthoredChapters:"1",totalChapterViews:"0",totalEditedBooks:"0",institution:null}],coeditorOne:null,coeditorTwo:null,coeditorThree:null,coeditorFour:null,coeditorFive:null,topics:[{id:"16",title:"Medicine",slug:"medicine"}],chapters:null,productType:{id:"1",title:"Edited Volume",chapterContentType:"chapter",authoredCaption:"Edited by"},personalPublishingAssistant:{id:"270941",firstName:"Sandra",lastName:"Maljavac",middleName:null,title:"Ms.",imageUrl:"https://mts.intechopen.com/storage/users/270941/images/7824_n.jpg",email:"sandra.m@intechopen.com",biography:"As an Author Service Manager my responsibilities include monitoring and facilitating all publishing activities for authors and editors. From chapter submission and review, to approval and revision, copyediting and design, until final publication, I work closely with authors and editors to ensure a simple and easy publishing process. I maintain constant and effective communication with authors, editors and reviewers, which allows for a level of personal support that enables contributors to fully commit and concentrate on the chapters they are writing, editing, or reviewing. I assist authors in the preparation of their full chapter submissions and track important deadlines and ensure they are met. I help to coordinate internal processes such as linguistic review, and monitor the technical aspects of the process. As an ASM I am also involved in the acquisition of editors. Whether that be identifying an exceptional author and proposing an editorship collaboration, or contacting researchers who would like the opportunity to work with IntechOpen, I establish and help manage author and editor acquisition and contact."}},relatedBooks:[{type:"book",id:"6550",title:"Cohort Studies in Health Sciences",subtitle:null,isOpenForSubmission:!1,hash:"01df5aba4fff1a84b37a2fdafa809660",slug:"cohort-studies-in-health-sciences",bookSignature:"R. Mauricio Barría",coverURL:"https://cdn.intechopen.com/books/images_new/6550.jpg",editedByType:"Edited by",editors:[{id:"88861",title:"Dr.",name:"R. Mauricio",surname:"Barría",slug:"r.-mauricio-barria",fullName:"R. 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This species is the causative agent of a parasitic disease known as giardiasis, an intestinal illness characterized by chronic diarrhea and undernutrition [1]. Giardiasis is a waterborne disease with a worldwide distribution [2]. Approximately, 200 million people are currently infected with G. intestinalis. The prevalence of giardiasis is higher in areas where sanitation conditions are inadequate. The illness mainly affects children and immunocompromised individuals. The life cycle of G. intestinalis comprises of two developmental stages: the trophozoite, in which it inhabits the host’s small intestine, and the cyst, in which it is immobile and resistant to stress conditions of the environmental milieu [3]. A more detailed description of basic biological aspects of this protozoan is presented in another chapter of this book. Host infection begins after ingestion of cysts present in contaminated water or food. When a cyst is subjected to the acidic pH and gastric enzymes of the stomach, a reorganization of the cyst wall takes place initiating the encystment process. Each cyst will differentiate into two trophozoites [4]. This process ends in the duodenum through the proteolytic action of pancreatic enzymes (specifically, chymotrypsin and trypsin) and alkalinization on the cyst wall [5]. When released into the small intestine, the trophozoites penetrate the intestinal mucus layer and attach to the epithelium of the duodenum and the upper jejunum. After division by binary fission, they form a monolayer that covers the entire intestinal surface. Some researchers have suggested that the physical attachment of Giardia trophozoites to the host intestinal epithelium may contribute to structural and functional changes in the host intestinal cells [6, 7]. Analysis of the Giardia-host cell interactions in vitro shows that this parasite is responsible for an increase in intestinal permeability due to the rearrangement of proteins of the tight adherens and desmosomal junctions [8–10]. Here, we will focus on the cytoskeleton of the trophozoite, which presents a half-pear shape with a bilateral symmetry and exhibits several unusual cytoskeleton structures such as the ventral disk, the median body, the funis, and the lateral crest, in addition to four pairs of flagella (Figure 1a–c). The maintenance and establishment of cell shape are fundamental roles of the cytoskeleton. Since the classic work by Elmendorf et al. [11], the cytoskeleton of Giardia has been considered to play an essential role in the development and maintenance of the infection, mainly because its main component, the ventral disk, is indispensable for the attachment of the protozoan to the intestinal epithelial cells.
A general view of G. intestinalis trophozoites by light and electron microscopy. (a) Dorsal side of the trophozoite as observed by differential interference contrast (DIC). The two nuclei (N) are observed in the anterior region of the cell. (b) Scanning electron microscopy of the ventral side of the trophozoites. Note that the parasite displays the pairs of flagella (anterior flagella—A, posterior flagella—P, ventral flagella—V, caudal flagella—C), the ventral disk (D), and the ventro-lateral flange. (c) Routine preparation for transmission electron microscopy (TEM) of the trophozoite showing the ventral disk (D), the two nuclei (N), peripheral vesicles (V), flagellar axonemes (A) and funis (arrows) [78]. Bars = 1 μm.
The attachment of Giardia trophozoites to the host intestinal epithelium is associated with a structure called ventral disk (Figure 2a), which is located on the ventral side and occupies two-third of the anterior region of the cell [12]. This structure is formed by a clockwise spiral layer of microtubules (Figure 2a) and is adjacent to the plasma membrane lining the ventral portion of the protozoan to which the microtubules are connected by small and thin filaments [13]. Observations by electron tomography show that the disk is composed of approximately 95 microtubules [14]. Trilaminar structures, known as microribbons, extend dorsally from the microtubule wall toward the cytoplasm [15] (Figure 2b, c). They are connected to each other by crossbridges that present a periodicity of 15–16 nm [13, 16]. Disk microtubules originate from dense bands in a region near the caudal and posterior-lateral basal bodies [16–18]. Capped microtubule ends found in this region show that these comprise minus-end areas, whereas other microtubules ending at the margin of the ventral disk are blunt and open (plus-end), suggesting a microtubule polarity [16]. Using cryo-electron tomography, Schwartz et al. [16] demonstrated that the spiral array of the ventral disk consists of microtubules ending within the ventral disk and new microtubules inserted at the inner edge near the bare area.
Cytoskeleton of Giardia intestinalis as observed in UHRSEM. (a) The spiral of ventral disk (D) and bare area (*) can be observed. Notice the microtubule nucleation zone with two sets of microtubules (arrows) that form the body ventral disk (D) and the ventral overlap zone (VOZ). (b, c) High magnification showing the microribbons that connect the disk microtubules (arrowheads) as seen by UHRSEM (b) and electron transmission microscopy (c) [15, 18]. Bars = 1 μm.
Observation made by several microscopy techniques shows clearly that the disk is not a homogeneous structure displaying several regions [14, 18]. High-resolution micrographs obtained by ultra-high resolution scanning electron microscope (SEM), helium ion microscopy (HIM), and cryo-electron microscopy tomography show the existence of different domains of the ventral disk [14, 18]. In a recent work, Brown et al. [14] suggested the presence of six regions. We will briefly describe each one, comparing results obtained by several groups, then add additional two regions.
The first region, designated as the dense band microtubule nucleation zone (Figure 2a), comprises an area of microtubules nucleation where the microtubules which continue into the disk body are assembled and another area containing a bundle of approximately 20 short microtubules [14], known as supernumerary microtubules [13], which curve slightly opposite to the main disk spiral [18] (Figure 2a). It is important to point out that microribbons have not been associated with the microtubules found in the dense zone [14].
The second region is the central one, also known as the “bare area” where microtubules-microribbons complexes have not been seen [19] (Figures 2a and 3a). In this zone, the protrusion of the ventral disk, a projection of the ventral plasma membrane, is clearly observed [20]. When trophozoite cell membrane is extracted with detergents, the banded collars and the basal bodies are observed in this region [18, 21] (Figures 2a and 3a). Using ultra-high resolution scanning electron microscopy (UHRSEM) and HIM, Gadelha et al. [18] showed that there were two types of banded collars. Previously named as BC1 and BC2 [21] (Figure 3a), the collars were repeated on both sides of the cell. BC1 appeared as a belt-shaped structure with a thickness of 275 nm. It was associated with the basal bodies of the right caudal/posterior-lateral flagella, when cells were observed dorsally, yet associated with the left caudal/ventral flagella when the cells were observed ventrally [18] (Figure 3b). The BC2 was seen as a rope-shaped structure, presenting horizontal segments connected by short bridges. BC2 was continuous with the basal bodies of the left caudal/posterior-lateral flagella (dorsal view) and the right caudal/ventral flagella (ventral view) [18] (Figure 3c). Using electron tomography, Brown et al. [14] described this region (BC2) as a dense band composed of three distinct bands. As pointed out by Gadelha et al. [18], each BC2 presented a set of microtubules: the disk microtubules originated from the basal bodies associated with the left BC2, and the previously described supernumerary microtubules originated from the basal bodies associated with the right BC2 (Figures 2a and 3a). It is not yet clear if the banded collars alone or in combination with the basal bodies could work as microtubule organizing centers that would drive the formation of a new ventral disk. Feely et al. [22] observed that isolated banded collars would have the capacity to nucleate new microtubules. Using electron tomography, Brown et al. [14] demonstrated that microtubules emerged from dense bands of two or three layers of densely packed microtubules end.
Dorsal view of the “bare area” of the ventral disk. (a) Axonemes of the posterior (p) and caudal (c) flagella and two banded collars (BC1 and BC2) are observed in this region. The disk microtubule (*) emerged from banded collar 2. (b) Banded collar 1 (BC1) displays a flat sheet appearance. (c) Banded collar 2 (BC2) shows horizontal segments connected by small bridges (arrowhead). These segments are continuous with the axonemes (arrow) of the left lateral-posterior (p) and caudal flagella [18]. Bars = 1 μm (a); 200 nm (b, c).
The third and fourth disk regions are the dorsal and ventral overlap zones (Figures 2a and 3a). Short microribbons (30–40 nm) are connected to the microtubules found in the dorsal overlap zones and the space between each microtubule is reduced (about 25 nm) [14]. In the ventral overlap zone, the microribbons are longer (50–60 nm) and the distance between the microtubules is larger (60 nm) [14]. A greater amount of microtubule-associated proteins’ density, previously known as side-arms and paddles [16], is observed in the ventral zone than in the dorsal zone.
The fifth region is the disk body considered as the region where no microtubules overlap (Figures 2a and 3a). At this region, the inter microtubular space is of about 70 nm, microribbons have a length of 100 nm, and the cross-bridges connecting the microtubules-microribbons complexes present a periodicity of 16 nm [14].
The sixth region is the ventral groove, which is an area located underneath the “bare area”. In this region, the disk bridges are shorter and more resistant to breakage after detergent treatment, suggesting that they could be more rigid structures than those of the disk body (authors’ unpublished data). As observed previously by transmission electron microscopy [13], in the central region of the disk, overlying the slightly flattened roof of the ventral chamber, the lateral separation of the microtubules transform abruptly displaying a shorter interval between them. It is possible that the microtubules of this region are kept more closely packed due to the friction of the ventral flagella that emerges near this region and whose beating contributed to cell adhesion and motility [11, 13, 15]. The seventh region is the margin where the microtubules that nucleate at the dense band microtubule nucleation zone end. Microribbons of the marginal region of the disk are shortened and bent toward the disk center as they approach the plus-end and the margin [14]. The cross-bridges, which connect microribbons laterally, form a 16 nm axial repeats in the same way as those observed in the disk body. Volume averaging of microtubule–microribbon complexes reveals that microtubule-associated protein density and distribution in the margin are similar to the dorsal overlap zone, but much lower than in the disk body or the ventral overlap zone [14].
The eighth region is the lateral crest (Figure 4a), which has been described as a dense fibrous material in the periphery of ventral disk [11, 23]. As pointed by Gadelha et al. [18], this region was interconnected with the ventral disk and presented small filaments (Figure 4b). The low levels of cholesterol and intramembrane proteins found in this region may be associated with a great flexibility of this structure, facilitating the contraction of the outer part of the ventral disk [24]. Previous papers reported labeling for actin, myosin, α-actinin, and tropomyosin in the periphery of the ventral disk in an area that corresponded to the lateral crest [25]. Based on these observations, it was proposed that contractile activity of this region occurred during Giardia attachment [25]. However, recent data failed to indicate the presence of contractile proteins in the lateral crest [18, 26, 27] and demonstrated the presence of ankyrin repeat and Nek kinase domain-containing proteins [26].
Lateral crest by UHRSEM. (a) The lateral crest (*) was located around the ventral disk (arrow). (b) Small filaments (arrowhead) were seen interconnecting the lateral crest (*) with the ventral disk (VD) [18]. Bars = 1 μm (a); 200 nm (b).
Several approaches have been used to identify the main components of the ventral disk. Since the first studies by transmission electron microscopy (TEM), it was clear that microtubules represented the major structural component of the disk. TEM studies also revealed the presence of the microribbons, another important structure. Several proteins designated as giardins have been associated with this structure. Molecular analysis demonstrated that Giardia has two genes for α-tubulin and three genes for β-tubulin [11, 28, 29]. Giardia tubulin has been described as highly modified, possibly playing a role in the stability of cytoskeleton elements. These post-translational modifications include acetylation, tyrosination, polyglycation, and polyglutamylation [30–33]. Giardin has been described as a 30 kDa protein found in microribbons and accounts for about 20% of total ventral disk protein content [34]. Several giardins have already been characterized: α-giardin, β-giardin, δ-giardin, and γ-giardin. Based on amino acid sequencing studies, α-giardins were identified as belonging to the annexin family and found in the dorsal plasma membrane of G. intestinalis [11, 35, 36]. One of these proteins, α-1 giardin, is a annexin with glycosaminoglycan-binding activity and is calcium-regulated [37]. However, β-giardin and δ-giardin are analogs of SF-assemblin and presumed to be present in ventral disk microribbons [11, 38, 39]. All these proteins have been shown to be associated with the various cytoskeleton structures by electrophoresis as well as by immunoblotting and immunofluorescence microscopy using specific antibodies to whole cells or to cytoskeleton preparations.
Palm et al. [40] carried out a proteomic analysis of the cytoskeleton preparation and reported the presence of a family of giardins (α-1, β, γ, and δ) and two isoforms of tubulin and a new protein, SALP-1, which is homologous to proteins that participate in the aggregation of striate fibers. Subsequently, a proteomic analysis was carried out by Lourenço et al. [41] using a cell fractionation approach. They obtained a highly enriched disk fraction that by SDS-PAGE showed the presence of five predominant bands, ranging from 25 to 58 kDa, as well as some light bands with higher molecular weight. Two-dimensional electrophoresis of the fraction revealed the presence of 18 spots. Mass spectrometry analysis of the major bands found by SDS-PAGE and of the spots identified in 2D gels revealed the presence of several additional proteins. More recently, in a seminal work Hagen et al. [26] also isolated an enriched disk fraction and used shotgun proteomics to identify its protein composition. They found 102 proteins potentially associated with the disk. In addition, several of these proteins were GFP-tagged and localized, using immunofluorescence microscopy. Six of the novel disk-associated proteins (DAPs) were localized in the whole disk in addition to those 18 previously identified [26]. Ten of the new proteins were localized in the lateral crest or along the outside edge of the ventral disk, including the Nek kinase DAP13981, a putatively contractile repetitive structure. Two novel proteins were localized in the supernumerary microtubules, which emerge from the central “bare zone” close to the flagellar basal bodies. Using the fluorescence recovery after photobleaching (FRAP) technique, evidence obtained showed that most of the identified proteins are associated with stable structures [26].
Microtubule inner proteins were also described in the ventral disk and were associated with the inner wall of the protofilaments associated with the interface microribbon-microtubules [16]. Microtubule outer proteins associated with protofilaments, localized opposite to microribbons, were also observed. A dense protein coat (previously named side-arms and paddle) of unknown composition is also observed on the margin-facing side of the microtubules [16]. In recent years, proteomic approaches combined with microscope localization technique were carried out and new disk-associated proteins were identified such as the NIMA-related kinases (Neks), ankyrin repeat domain-containing protein, median body protein, and fungal cell wall protein Mp1p. These proteins have specific sites involved in cell adhesion and TTHERM, a hypothetical protein associated with the microtubule formation in the ciliate Tetrahymena thermophila [26, 41]. However, despite the effort that has been made to characterize these structures by several research groups, the specific function of each of these proteins is not yet fully understood.
The ventral disk has been considered the main structure associated with the parasite attachment to the host cell. The exact mechanism by which this occurs is still under study. In this context, several hypotheses have been raised to explain this process. Holberton’s observations of the movement of the ventral flagella during cell adhesion led to the proposal of the hydrodynamic model [13, 42]. According to this theory, the suction pressure developed by the disk takes place due to the beat of the ventral flagella and the fluid flow generated by this beat through the ventro-lateral flange and the ventral groove. The authors suggested that the ventral disk would be responsible for maintaining the proper shape for creating both the suction pressure and the distance between the flange and the substrate [13, 42]. The adhesive activity of the flange was demonstrated by Hagen et al. [43]. Using interference reflection microscopy and field emission electron microscopy, these authors observed the establishment of focal contacts between the flange and the substrate [43]. Lenaghan et al. [44] showed that the ventral flagella presented a propulsive velocity of 9.4 μm/s and proposed, based on the hydrodynamic model described by [13], a suction pressure of 20.8 Pa. The main functional role of this flagella pair would then be related to the downward force required for the adhesion to the epithelium.
In contrast to the above-mentioned reports, Campanati et al. [45] suggested that the ventral flagella play a secondary role in the adhesion process. This was demonstrated with experiments where the viscosity of the medium was increased with a gradient concentration of Percoll, thereby decreasing the frequency of the flagella and checking the adhesion of the parasites. These authors found that even though the frequency of the ventral flagella decreased to about 2 Hz, many trophozoites remained adhered. They also observed contractions of the ventral disk, which consequently caused the detachment of the parasite [45]. Based on these observations, they suggested that the adhesion is not only associated with the flagellar movements; this process might also rely on other factors such as tubulin-associated movements within the ventral disk itself [45]. Using total internal reflection microscopy (TIRF) of trophozoites labeled with a fluorescent plasma membrane dye, House et al. [46] defined distinct stages of attachment: (1) skim and contact of the surface with the anterior region of the ventro-lateral flange, (2) the ventral disk periphery touches the surface, forming a continuous contact at the area of the lateral crest, (3) the lateral shield then presses the substrate, and (4) then presses the bare area region within the ventral disk. Defects in flagellar motility do not affect later stages of the attachment (steps 2–4). This was demonstrated by the generation of a strain with defects in flagellar beating by a morpholino-based knockdown of the axonemal central pair protein PF16 as well as by construction of a strain with specific defects for the ventral flagellar waveform by overexpressing a dominant negative gene. House et al. [46] observed a slower attachment during earlier stages when motility is required for positioning the ventral disk against the substrate surface (step 1). They proposed that the ventral flagellar beating might contribute to the positioning of the cell during early stages of attachment [46]. Interestingly, Woessner and Dawson [47] demonstrated that the depletion of the median body protein, a ventral disk protein, altered the domed disk conformation, and consequently, the attachment.
In addition to the mechanical mode of adhesion of this parasite to intestinal cells, as described above, other studies suggest that biochemical mechanisms involving molecular lectin-sugar interactions on the surface of Giardia also play an important role in this process [48]. This hypothesis was first supported by the evidence that pre-treatment of parasites with trypsin or periodate could decrease adhesion to intestinal cells. In addition, the presence of a known concentration of glucose, fucose, galactose, mannose, mannose-6-phosphate, N-acetyl-glucosamine, and N-acetyl-galactosamine in the interaction medium inhibited the attachment of the parasites to the epithelial cells [48–50]. Although these results show that lectins mediate interactions between Giardia and the host cell, there is a clear evidence that the cytoskeleton is sufficient to allow adhesion, as pointed out by Elmendorf et al. [11]. This conclusion is supported by the finding that trophozoites can efficiently adhere to glass, plastic, and a wide variety of mammalian cell lineages. It has been suggested that interaction of Giardia lectin and the carbohydrate of the intestinal cells’ surface, could be important for the recognition of host duodenal cells [48].
Transmission electron microscopy analysis also showed that during cell division, the ventral disk contacts the nucleus, suggesting that this structure could cause nuclear constriction, participating in the karyokinesis process [51].
The flagella structure of G. intestinalis follows the canonical 9:2+2 microtubular axoneme. The eight flagella found in the parasite are organized in pairs and are named according to their position: (1) anterior, (2) lateral-posterior, (3) ventral, and (4) caudal (Figure 1b). They originate from the basal bodies, which are localized between two nuclei in the anterior region of the cell [11, 17, 21].
G. intestinalis flagella present components that are associated with each pair of flagella. The axonemes of the anterior flagella extend toward the anterior region of the cell, cross to the center, and then bend running back to the posterior region where they emerge at the lateral portion of the cell. Dense fibers, named paraflagellar or paraxial rods, are associated with the intracellular portion of these axonemes [13, 18, 52] (Figure 5a). As observed by 3D negative staining electron tomography, striated fibers, which form a regular brush-like border, are also connected to anterior flagella [14]. The marginal plates, which have been described as part of the ventro-lateral flange, are also associated with the axonemes of the anterior flagella [53]. Using UHRSEM with detergent-extracted trophozoites, Maia-Brigagão et al. [52] described the fine organization of this structure. Images of the marginal plates show that they have a “boomerang-like” shape that forms an interlaced or web structure connected to the axonemes of the anterior flagella by small and apparently flexible filaments (Figure 5b). It has also been observed that the upper portions of the marginal plates are associated with a filamentous network in continuity with filaments that are parallel to the main cell axis [18] (Figure 5c, d). Together, these structures correspond to the ventro-lateral flange, which has been described as a fibrous structure of paracrystalline regularity [13, 14]. Despite the lack of biochemical information to support its functional role, the adhesive activity of the ventro-lateral flange has been suggested previously [43; see Section 2.1.3]. Dense rods are also localized just below the lateral-posterior flagella. They are shorter and associated with the inner portion of the axoneme in the region where they run along of the ventral disk [11, 54]. On the other hand, the ventral flagella are differentiated from the others by presenting a membrane projection that is filled by a dense material of unknown composition [13, 53]. A 30 kDa polypeptide was identified as the main constituent of this structure [17]. The axonemes of the caudal flagella are accompanied by two sheets of microtubules, which were called funis by Kulda and Nohýnková [55]. This structure will be described in more detail below.
UHRSEM images of ventral (a–d) and dorsal surfaces of Giardia. (a) The marginal plates (*) are associated with a network of filaments (arrows). (b) High magnification of (a) showing the connections of the marginal plates (*) with the axoneme (Ax) and the network of filaments (arrow). (c, d) The network of filaments is continuous with the set of filaments in the periphery of the trophozoites (arrowhead). The square indicates the area in high magnification in d. (d) Note the filaments (arrowhead) parallel to the main cell axis [18]. Bars = 2 μm (a, c); 100 nm (b); 200 nm (d).
Previous studies reported that Giardia flagella basal bodies were arranged in tetrads [22, 56, 57]. When the trophozoite is viewed dorsally, the left tetrad consists of anterior/ventral and caudal/posterolateral basal bodies, while the right tetrad consists of caudal/ventral and anterior/posterolateral basal bodies [56, 57]. During mitosis, association of microtubules from basal bodies with the spindle poles are thought to determine polarity of each daughter cell [58; see Section 2.6].
A number of proteins other than tubulin are found in the G. intestinalis flagella. Among them are the α-giardins, which have homology with human annexins and appear to have a function in trophozoite motility, adhesion, and membrane stability [59]. Interestingly, 21 α-giardin encoding genes were found in the G. intestinalis genome. Some members of this annexin-like protein family have been associated with the flagella. Immunocytochemical studies showed that α-2 and -19 giardin are localized in the caudal and ventral flagella, respectively [60]. An α-14 giardin that exhibits a calcium-dependent phospholipid-binding site resides at local slubs near the proximal part and the ends of the flagella, and associates with tubulin [61, 62]. Ankyrin repeats (such as GSP-180) have also been described and shown to contain coiled-coil domains and are found in the axoneme of the anterior flagellum [63]. Kinesin-2 GFP fusions (GiKIN2a and GiKIN2b) and IFT complex A and B raft homologues (IFT140 and IFT81) localize to the eight axonemes, as well as to external regions, including flagellar tips and flagellar pores [64]. Using shotgun proteomic approaches combined with GFP-tagging of microtubule-associated proteins, Hagen et al. [64] identified a homologue of DIP13, a Chlamydomonas protein that binds microtubules localized in the caudal and ventral flagella. γ-tubulin and centrin are located in the basal bodies of the flagella, indicating that this region could be a microtubule organizing center [65, 66] (Figure 6). Genomic and proteomic analysis showed that there are around 49–75 proteins localized to Giardia basal bodies [57, 67]. Although these proteins have been shown to be present in the flagella, it is not clear how they influence flagellar dynamics.
Presence of centrin in G. intestinalis. Immunostaining using anti-centrin antibodies 17E10, 2.4, and 20H5. All antibodies yielded the same labeling pattern. (a–f) Different cells are shown in differential interference contrast – DIC (a–c) and in fluorescence microscopy (d–f). Labeling is shown in the basal body, the dense rods of the posterior flagella, axonemes, flagella and disk [66]. Bars = 1 μm.
The Giardia flagella are required for motility and may be necessary for adhesion [13, 44, 45]. They participate in the emergence of the trophozoites during the excystation process [68].
Regarding the G. intestinalis motility, studies using video-microscopy suggest that the ventral pair beats continuously from base to the tip in a sinusoidal waveform parallel to the longitudinal axis of the cell [44, 45, 69]. The beat frequency observed in this pair of flagella was around 10 Hz, with mean amplitude of the waveform of 2.0 mm [45, 69]. Active beating is also observed in the anterior flagella, which present a beat frequency of approximately 18 Hz. Although Campanti et al. [45] have shown that the beat pattern of this pair is helical, Lenaghan et al. [44] using high-contrast and high-speed microscopic imaging (>800 fps), observed that the anterior flagella beat with a power stroke similar to ciliary motion. This same pattern was also observed during the beat of the posterior flagella [44], which was in contrast to previous analysis that suggested that the motion of the posterior flagella might be consequence of the simultaneous propagation of the waves produced by the ventral pair of the flagella [45]. The caudal pair of flagella, which emerges from the posterior end of the parasite, does not present active beating [44, 45], although motion of its intracellular portion has been observed [70].
In relation to the displacement of the trophozoite, the results found are complex. Video-microscopy observations done by Campanati et al. [45] showed that forward movement with a rocking motion was due to the beat of the anterior flagella of the cell. A change in the position of this pair of the flagella led to the rotation movement during swimming [45]. Subsequently, Lenaghan et al. [44] suggested that the fast swimming of the parasite was not the result of flagella beating, but was due to the wave-like motion of the caudal region of the cell. This movement could be the result of the active beating of the intracellular portion of the caudal flagella, which would be responsible for the dorsal-ventral flexion [44]. Another movement related to the caudal portion of the cell is lateral bending [45, 70]. This motion was observed in an early stage of attachment and was responsible for the circling swimming pattern [44]. Following the lateral flexion, a change in the direction of swimming occurs, which could be consequence of either the beating of anterior and/or ventral pair beating [44, 70].
Besides participation in the cell displacement, the Giardia flagella have been associated with such other cellular processes as adhesion and cell differentiation and division. Although it has been proposed that the ventral flagella beat might be essential for parasite attachment by generating a hydrodynamic force that would result in a suction-based adhesion, later studies show that this flagella pair is important in the early stages of adhesion, specifically in the positioning of the trophozoites near the substrate [45, 46; see Section 2.1.3].
The role of flagellar motility during cell differentiation and division is not yet clear. During the encystment, the flagella are not completely disarranged and flagellar movement has been observed within cysts [68]. During excystation, the flagellar motion appears to be crucial for the rupture of the cystic wall and release of the trophozoites [71]. Flagellar motility seems to be essential for the separation of daughter cells during cell division. Tumová et al. [72] showed that in the final steps of this process, the cell detaches from the substrate. During this phase, the cells are seen joined by their posterior region and swim freely in the medium while the ventral disk is assembled. Interestingly, studies using kinesin-2 mutants showed that these parasites were unable to complete cell division due to flagellar defects [73].
The median body is another microtubular element of the G. intestinalis cytoskeleton, but it is not present in all cells [74]. Its presence in cysts is still under discussion. It is located dorsally to the ventral disk and is between 0.2 and 1.8 μm in thickness [74]. Since its shape and position vary among species of Giardia, it can be used as a taxonomic tool. Previous studies have shown that the median body consists of a variable number of layers containing stable and nonstable microtubules [33, 74] (Figure 7a–d). Acetylated tubulin, mono and polyglycylated tubulin, and tyrosinated tubulin were detected in this structure [32, 33]. Microtubules of the median body may be associated with caudal axonemes, funis, plasma membrane, and occasionally, ventral disk [74] (Figure 7a–d). The localization of β-giardin and the presence of small bridges in these microtubules indicated that microribbons, similar to those found in the ventral disk, could be present in this structure [74, 75] (Figure 8). Other proteins were also described in the median body as actin and α-actinin [25]. The localization of centrin led to the suggestion that this structure could be another MTOC in Giardia [65, 76], although γ-tubulin has not been detected. Using green fluorescent protein-tagged microtubule-associated proteins, Dawson et al. [77] showed that kinesin-13 and EB1 localized in the median body and could play a role in the microtubular dynamic. The median body protein (MBP), a 101-kDa protein with coiled-coil domains, was initially identified in this structure. However, MBP was later identified as an abundant protein in the ventral disk, being localized in the median body of the trophozoites during prophase [47]. In this context, it was suggested that ventral disk components could assemble on the median body microtubules prior to dorsal disk biogenesis. Taken together, several hypotheses have been made for the function of the median body such as (1) microtubule reserve for rapid mobilization during mitosis and ventral disk formation; (2) microtubule organizing center; and (3) participation in the movements of the caudal region of the trophozoite [11, 74, 76].
The FESEM of Giardia after detergent extraction. The plasma membrane was partially removed, allowing observation of the cytoskeleton, the MB included. The ventral disk (D), the two nuclei (N), MB, anterior (A), caudal (C) and posterior-lateral flagella (P) are seen. (a–b) Every fascicle that constitutes the MB is observed. (c–d) The median bodies are seen curved, and toward the cells’ anterior region. The fascicles number is variable as well as their disposition and location. Posterior-lateral axoneme, P; caudal axoneme, C; [74]. Bars = 1 μm.
Immunofluorescence localization of β-giardin in Giardia, using the monoclonal antibody 7G9. The disk presents positive labeling as well the MB (arrowheads). (a) DIC visualization; (b) immunofluorescence; (c) overlay [74]. Bar = 5 μm.
The axonemes of the caudal flagella are accompanied by two sheets of microtubules, which were called funis by [55]. One sheet is positioned ventrally and the other dorsally [70, 78]. This microtubular complex, which contains acetylated α-tubulin [30], emanates from between the nuclei, near the region of the basal bodies, and follows until the emergence of the caudal flagella. The funis microtubules partially surround the axonemes of the caudal flagella and spread out in the direction of the v rods associated with the lateral-posterior flagella (Figure 9a–d). Bridges of different lengths interconnect the funis microtubules [78] (Figure 9a–d). The microtubular sheets of this structure are covered by a lattice-like array of unidentified material, as revealed by HIM analysis [18]. In a previous work, an actin helix was shown to bundle the axonemes of the caudal flagella. In the final portion of the caudal complex, an association of the microtubules with cytoplasmic filaments was found [27]. It is proposed that the funis, together with the other axonemes, could work as a flexible cord and be responsible for the caudal movement of the cells such as lateral bending and dorsal-ventral flexion [70, 78; see Section 2.2.3].
SEM of G. intestinalis in a ventral view. (a) Note that the microtubules of the funis (Fn) emanate from the caudal flagella (C) and are anchored to the posterior-lateral flagella (P). The median body (MB) is also appears as bundles of microtubules close to the funis. The arrows point to nuclei prints which are located dorsally to the ventral disk (D). (b) FESEM of G. intestinalis in a close view. The funis microtubules (Fn) are observed emanating from the caudal flagella (C) toward the posterior-lateral flagella (P). Notice that the microtubules present links (arrows), many of which were disrupted by the extraction treatment. The median body (MB), also formed by microtubules, is seen in a dorsal position in relation to the funis. Ventral flagella (V) [78]. Bar = 1 μm (a) and 100 nm (b).
It has been shown that G. intestinalis genome contains a single divergent actin gene with an identity that is 58% similar to actin from other cells [79]. In addition, no genes coding for actin-binding proteins, formin, and myosin were found [11]. Further characterization of the Giardia actin showed that it is localized in several regions of the cell (cortex, axonemes, nuclei) and polymerizes in vitro, forming true microfilaments [27]. Some authors observed that drugs, which interfere with actin dynamic such as cytochalasin D and jasplakinolide, inhibited cytokinesis, and induced fragmentation of ventral disk and ventro-lateral flange [70, 80, 81]. Knockdown of the Giardia actin gene (giActin) interferes with clathrin-mediated endocytosis, membrane trafficking of CWP, and cytokinesis [27]. Subsequently, it was shown that Giardia contains around 80 putative actin-binding proteins that may constitute a set of evolutionarily indispensable, actin-interacting proteins [82]. Using immunofluorescence approaches with specific antibodies combined with 3D-structured illumination light microscopy, Paredez et al. [27] showed that Giardia actin could form C-shaped filaments and helix-structures. A looser meshwork of filaments with a mean diameter of 9 nm was recently observed in the cytoskeleton of G. intestinalis using HIM [18]. The filaments spread out along the dorsal region and formed ring array structures [18] (Figure 10a, b). Immunogold labeling associated with UHRSEM coupled to backscattered electron detectors showed a labeling for actin in this region. These filaments therefore may correspond to microfilaments, which could act as a scaffold and provide support for the dorsal surface and cellular components [18]. Interestingly, Weiland et al. [59] observed that Giardia present several annexins, which are proteins known to interact with the F-actin in other cell models. Because annexins are associated with the trophozoite membrane, the Weiland team suggested that annexins could stabilize the cytoskeleton by cross-linking the plasma membrane to the underlying microtubules/microfilaments.
Dorsal view of Giardia by HIM. (a) Cytoplasmic filaments (arrow) contacting cytoskeletal structures such as the median body (MB). (b) High magnification of (a). It is possible to observe a ring array (arrowhead) [18]. Bars: 2 μm (a); 100 nm (b).
The differentiation of trophozoites into cysts is an important process that allows the survival of the parasite under stress conditions of the environmental milieu. Morphological analyses using scanning and transmission electron microscopy show that during trophozoite-cyst transformation, several modifications occur [68, 83, 84]. Midlej and Benchimol [68] showed that in the early stages of encystment, the trophozoite gradually changes from its flattened form to an oval/rounded shape. This is accomplished by an increase in the membranous structure of the flange, which curves, causing cell folding and the formation of the concave depression in the ventral region. In addition, the fibrillar material is deposited gradually on the encysting cells forming the cystic wall. At the same time, alterations also occur in the ventral disk spiral, which opens up and then assumed a horse-shaped structure. In the later stages of encystment, this structure fragments into four parts. These authors also observed that during differentiation of the trophozoite-cyst, the flagella are gradually internalized and kept in vacuoles. The ventral flagella are enclosed firstly by folding of the flange membrane. The last flagella to be internalized are the caudal that form a tail that persists until the last stages of the process. The flagella beating are still observed inside the cell. Midlej and Benchimol [68] demonstrated also the presence of an operculum in the final stage of the encystment, before the complete closing of the cyst. They suggested that this opening could be a weak region of the cyst, which would facilitate the exit of the trophozoite observed during encystment. During differentiation of the cyst into trophozoites, the flagella protrude through a small opening in the cyst wall, which is enlarged by flagella motion. The trophozoites emerged from cyst are oval in shape and quickly become flattened and elongate [71, 85].
The reorganization of the Giardia cytoskeleton also occurs during cell division [58]. Sagolla et al. demonstrated that Giardia has a semi-open mitosis with two extranuclear spindles responsible for chromosome segregation. Using time-lapsed, confocal, and electron microscopy, Tumová et al. [72] described the different steps of Giardia cell division. According to these authors, the division begins in adhered cells by the detachment of the microtubule of the ventral disk from basal bodies. The overlapping region of the disk loosens and the central bare area increases. These alterations are accomplished by shortening and subsequent disappearance of the microribbons. At end of this stage, the nuclei are duplicated.
The rearrangement of the flagellar axonemes seems to take place in prophase when nuclear migration occurs in the cell midline [58]. Using light and electron microscopy and immunofluorescence methods, Nohýnková et al. [56] demonstrated that Giardia reorganize the flagellar apparatus during semi-conservative cell division. Each daughter Giardia receives four flagella from the parent cell, while the other flagella are assembled de novo in each cell. During this process, basal bodies/flagella migrate, assume different positions, and transform to different flagellar types in progeny until their maturation is completed [56]. As observed by Tumová et al. [72], after reorientation of the anterior flagella, the daughter cell disks are organized on the anterior dorsal side and positioned laterally. During this phase, lateral crest and ventro-lateral flange are not visualized. The Tumová team observed that in the final steps of cell division, the trophozoites are seen joined by their posterior region and swim freely in the medium, while the new disks are assembled. The daughter cells with fully developed disks (i.e., with the presence of lateral crest and flange) attach to a substrate but are still connected tail to tail by a cytoplasmic bridge. The cell division ends by a process resembling adhesion-dependent cytokinesis. Although these authors have suggested that the splitting of the diving organism occurs in ventral-ventral axial symmetry in the plane of the daughter disks, previous studies show that other types of cytokinesis (dorsal-dorsal or ventral-dorsal axial symmetry) may occur in Giardia [86].
In the past, Japanese houses were ridiculed as being “rabbit hutches” as they were smaller in scale, lower in quality, and shorter in average service life than those of Western countries, and examples were often given illustrating Japan as having the worst residential environment among major advanced countries. However, after the period of high economic growth since the chaotic postwar period, this environment has already greatly improved. In recent years high-performance housing stock has accumulated, and housing with functions not found in other countries have become common.
\nNeedless to say, when attempting an analysis of a housing market, it is necessary to fully understand the characteristics of the country. Below, we set out the reasons that have led to the false perception of Japanese housing still belonging to the era when they were ridiculed as rabbit hutches.
\nAlthough commonalities can be found in many parts of the Japanese housing market in comparison with the European and US housing markets, the following heterogeneity is conceivable as the postwar historical origin is different. It is possible that these are the cause of many misunderstandings.
\nIn Japan, many houses were destroyed due to the large-scale air raids during the Second World War, not only in metropolitan areas but also in regional cities. In particular, a large number of houses were destroyed in the Tokyo metropolitan area,1 and very-low-quality houses were built in a disorganized manner to satisfy the urgent housing demand in the chaotic postwar period. In the so-called high economic growth period that began in the mid-1950s, such houses were rapidly upgraded as large numbers of apartment buildings came up throughout Japan.2 In addition, the drastic change in Japanese lifestyle through the rapid economic growth triggered the renewal of old housing stock by Westernizing the traditional housing style of Japan.
\nThe private sector led construction to realize such a large-scale housing supply because the public sector was saddled with the large financial burden of postwar reconstruction. In particular, the government established a personal loan system to promote housing investment by households, and as a result, the ownership rate in postwar Japan significantly increased in comparison to before the war. Furthermore, as the supply of public housing was limited, a dedicated housing market for single-person renters formed in the rental housing market, which was rarely seen in Europe and the United States.
\nAs a result of these short-term housing renewals, Japanese housing was brought into a state where their style, quality, and housing equipment were greatly different depending on the period of construction. In addition, due to natural disasters such as the Great Hanshin earthquake3 and the Great East Japan earthquake,4 housing earthquake resistance and other legal regulations have been successively strengthened, thereby rapidly increasing the performance requirements of housing.5\n
\nThis history is also closely related to the shortness of service life, which is a characteristic of the previously ridiculed Japanese houses. Several reasons can be envisaged to explain the short service life of Japanese houses, but the two most influential factors are considered to be the urgent task of promoting the renovation of low-quality housing stock that was built to temporarily compensate for the housing shortage after the war and the fact that the stock renewal was promoted by strengthening public regulations due to large-scale earthquakes and other disasters.
\nIn addition, the high urban renewal rate can also be cited as a reason. In the rapid economic growth of postwar Japan, the main industrial structure shifted from primary to secondary industry in a single stroke, and urbanization was promoted throughout the country in the 1970s by developing highway and railway networks across the country, known as “Japanese archipelago remodeling.” In the 1980s, a policy was developed to transform the industrial structure, which was centered on secondary industry to tertiary industry. The transformation of Tokyo into an international financial center was a symbolic policy, and against this background, redevelopment rapidly advanced in major cities. Under such circumstances, the conversion of building use of even physically usable housing into offices, commercial facilities, and so on was promoted through rebuilding, and the advancement of land use was promoted [1].
\nAs a result, it can be said that the average service life of housing seen throughout the stock as a whole has been shortened over a long period.
\nIn addition to these features, it should be noted that the speed of technological innovation in Japanese housing is fast. “Technological innovation” here refers not only to the improvement of productivity on the manufacturing side but also the significant improvement of household welfare levels through the release of new products developed by R&D. In recent years, smart houses utilizing IOT and so on have become symbolic of advancing technology, but functions such as TV intercoms, bathroom dryers, system kitchens, and toilets with washlets, which are not often seen in European and American houses, have become common functions in Japanese houses and have greatly improved household living standards.
\nHowever, in a market where products with such new features arrive so quickly, the speed of obsolescence also increases. In these markets, when a new product appears, the old product is ordered to be withdrawn from the market, or its commodity value is greatly depreciated, that is, the service life of products is shortened.
\nThis study aims to measure the economic value of the functions of housing with new quality in the rental housing market in Tokyo, where technological advancement has been the greatest, and to clarify how much economic depreciation is occurring due to obsolescence. In Section 2, we present the model and the framework for empirical analysis together with the data, and in Section 3, we present the estimated results. According to the obtained results, new functions are being added sequentially to Japanese rental housing according to the age of the building, and these functions are non-negligible in the determination of housing rent, even when compared with location (LC) and the building structure (ST). The effect of obsolescence due to the addition of new functions was roughly—5%. In Section 4, we summarize the results by way of a conclusion.
\nA technique known as the hedonic approach is effective to decompose prices of commodities corresponding to different qualities. Since the hedonic approach theoretically depicts the behavior of suppliers and consumers in a market with diverse quality and presents a framework for empirical analysis, it is possible to approximately measure the household limit shadow price for new functions and to identify economic deterioration accompanying obsolescence [2, 3].
\nGenerally, the construction of household selection models in the residential market faces many difficulties compared to regular commodities and service markets. Not only is consumption expenditure high for housing, but consumers are also troubled by its highly nonuniform nature. Even when located in the same place, prices vary depending on the quality of housing, and even if the buildings are of the same quality, prices vary depending on the location. Furthermore, since housing has durability, depreciation has to be taken into consideration.
\nIn such a market, the law of one price assumed by traditional pricing theory cannot be applied. Furthermore, the application of a model that deals with differentiated products as analyzed by Lancaster [4] is not effective both theoretically and in empirical analysis. Accordingly, Rosen [5] theoretically clarified the type of market mechanism that is generated when commodity price data are a bundle of such attributes. Specifically, the relationship between the offer function of the commodity supplier, the bid function of the commodity consumer, and the market price function established by the equilibrium of these is closely examined, and the market price is characterized from the behavior of consumers and producers [6].
\nHowever, when attempting to estimate the hedonic function, we face various difficulties. The first is the existence of unobservable variables, the so-called omitted variable bias problem [7]. In general, in the estimation of a hedonic function for the housing market, only the location and building attributes, which are easy to obtain, are taken into consideration. However, it is also easy to envisage that the actual market price of housing will change depending on the environment surrounding the house and the various kinds of performance of the building.
\nAs for variable selection in the estimation of hedonic functions in Tokyo’s rental housing market, Nishi et al. [8] have conducted an exhaustive survey of the previous research. Nishi et al. [8] pointed that the housing amenities used in hedonic analyses are categorized as “location or accessibility,” “housing features,” and “site advantages.” This paper is focused on housing features, because they can be reflected in the rent due to the technological progress in the information systems and supply management.
\nAccessibility is defined as the “main accessibility related to commuting.” Housing features are defined as “amenities that can be changed by landlords.” Accessibility and housing features are the basic characteristics used as explanatory variables in hedonic models and are widely used in previous studies [2, 6, 9, 10].
\nSite advantages have also been researched recently using variables calculated using geographical information system or GIS [11, 12]. Shimizu [11] demonstrates that the environment surrounding housing is important in the case where house prices are determined by building use conditions and the characteristics of neighboring residents and suggests that in the case such variables are not taken into consideration and the estimated statistics of the hedonic function lack robustness. Nishi et al. [8] also show that there is a similar problem with estimated statistics when housing equipment is not taken into consideration. Fuerst and Shimizu [13] show that in the new condominium market in Tokyo, the offered value for highly novel functionality such as environmental performance differs greatly when taking the household’s annual income into account.
\nAs can be understood from these facts, attention must be given to the kind of variables that are used in estimating the hedonic function. According to Nelson [14], housing characteristics to be considered in function estimation are classified as follows.
\nExcluding characteristics related to traffic convenience, Nelson [14] considers it possible to categorize the positional characteristics of housing into housing equipment and location. Of these, “housing equipment” is variable and depends on the owner of the house, and “location” is an element that cannot be changed. Meanwhile, Chau and Chin [15] and Shimizu [11] add neighborhood characteristics.
\nIn addition to location and building structure, this study classifies housing equipment into equipment ancillary to the room (room equipment (RE)) and to the building (building equipment (BE)) and also takes the conditions of the contract into account to estimate their marginal price effect by estimating the hedonic function and to estimate the extent of obsolescence caused by the appearance of products with new performance.
\nSince the latter half of the 1990s, the use of the Internet for real estate advertising has expanded rapidly in Japan, and websites dealing with a large amount of rental advert data have been developed. This study uses the data on homes managed by LIFULL Co., Ltd. which is a major real estate portal site.6\n
\nMultiple real estate companies post concurrent advertisements for the same property on the real estate website, so we eliminated the duplicates from the data by grouping them by the criteria of address, property name, and room number.7 Furthermore, we independently assigned daytime railway travel time from Tokyo station to the nearest station to the property (minutes), which was not included in the data posted on the portal.
\nSince the aim of this study is to identify the effect due to the addition of new functions over time, we hypothesize that the price structure will change according to the period of construction.8 Data were segmented into the following three stocks:
Old stock: built between 1968 and 1981
Main stock: built between 1982 and 1999
New stock: built between 2000 and 2018
Earthquake resistance standards were greatly revised in 1981 according to the Building Standards Act, which stipulates building quality in Japan, and the earthquake resistance of buildings differs greatly according to whether they were built in or before 1981 or in or after 1982; buildings were therefore categorized using 1981 as a basis. There was also a major change in earthquake resistance standards in 2000, so this was also used as the standard for a category. In addition, the data used are for the 23 wards of Tokyo where a large volume of housing stocks was supplied due to a large population inflow.
\nAs a result of this process, 53,550 data points were acquired as data for analysis.9\n
\nA general hedonic model can be expressed as
\nwhere y is the explanatory variable, p is the housing rent, xi\n is the explanatory variable (housing characteristic), and βi\n and α are the estimation parameters.
\nIn this study, in addition to the commonly used location and building structure, housing equipment was added to the estimation of the hedonic function for the housing market. Specifically, we classified housing equipment into equipment ancillary to the room (room equipment) and equipment ancillary to the building (building equipment) and took the conditions of contract (CC) into account to construct a hedonic function.
\n\nEq. (1) can be rewritten as follows:
\nHere, the actual estimation formula can be expressed as follows:
\nIn Eq. (1), ln pit\n represents the log rent for i property at time t (October 2018). \n
Before analysis, we calculated the descriptive statistics of the data to be analyzed (\nTable 1\n). From the descriptive statistics, there are several features as follows, depending on the period of construction:
There is little difference between old and main stocks in average rent, but it is about 20% higher for new stock than the old stock.
There is no significant difference in the average floor area, the number of minutes by foot from the nearest station, and the number of minutes by train from Tokyo station.
Concerning the years since construction, the average of the total is 18.5 years and the standard deviation is 12.7 years, and the average value and standard deviation by construction date are consistent with the classification.
Variable | \nType | \nMean | \nStd. dev. | \nMin. | \nMax. | \n
---|---|---|---|---|---|
Monthly rent | \nAll | \n94,779 | \n34,873 | \n30,000 | \n249,000 | \n
(JYE) | \nOld stock | \n84,968 | \n30,631 | \n30,000 | \n240,000 | \n
\n | Main stock | \n85,305 | \n32,566 | \n30,000 | \n249,000 | \n
\n | New stock | \n103,040 | \n34,994 | \n45,000 | \n249,000 | \n
\n | New/old | \n121.3% | \n114.2% | \n150.0% | \n103.8% | \n
Floor space | \nAll | \n31.3 | \n13.4 | \n15.0 | \n100.0 | \n
(m2) | \nOld stock | \n32.5 | \n12.4 | \n15.0 | \n91.4 | \n
\n | Main stock | \n32.0 | \n15.3 | \n15.0 | \n100.0 | \n
\n | New stock | \n30.6 | \n12.1 | \n15.0 | \n99.5 | \n
\n | New/old | \n94.3% | \n97.7% | \n100.0% | \n108.9% | \n
Monthly rent/m3\n | \nAll | \n3192 | \n806 | \n988 | \n8134 | \n
(JYE) | \nOld stock | \n2717 | \n668 | \n1076 | \n6528 | \n
\n | Main stock | \n2864 | \n701 | \n988 | \n7535 | \n
\n | New stock | \n3501 | \n766 | \n1165 | \n8134 | \n
\n | New/old | \n128.9% | \n114.8% | \n108.3% | \n124.6% | \n
Age of unit | \nAll | \n18.5 | \n12.7 | \n0.0 | \n50.0 | \n
(year) | \nOld stock | \n42.3 | \n3.8 | \n37.0 | \n50.0 | \n
\n | Main stock | \n27.4 | \n4.4 | \n19.0 | \n36.0 | \n
\n | New stock | \n8.3 | \n5.5 | \n0.0 | \n18.0 | \n
\n | New/old | \n19.7% | \n144.0% | \n0.0% | \n36.0% | \n
Time to the nearest station | \nAll | \n7.7 | \n4.6 | \n0.6 | \n41.0 | \n
(minutes) | \nOld stock | \n7.4 | \n4.4 | \n1.0 | \n41.0 | \n
\n | Main stock | \n8.1 | \n4.8 | \n1.0 | \n40.0 | \n
\n | New stock | \n7.4 | \n4.4 | \n0.6 | \n38.0 | \n
\n | New/old | \n99.4% | \n98.8% | \n62.5% | \n92.7% | \n
Time to Tokyo station | \nAll | \n27.2 | \n8.6 | \n1.0 | \n48.0 | \n
(minutes) | \nOld stock | \n26.5 | \n8.3 | \n4.0 | \n48.0 | \n
\n | Main stock | \n28.8 | \n8.1 | \n4.0 | \n48.0 | \n
\n | New stock | \n26.2 | \n8.8 | \n1.0 | \n48.0 | \n
\n | New/old | \n99.1% | \n105.4% | \n25.0% | \n100.0% | \n
Number of observations (all) = 53,550 | \n
Descriptive statistics.
Based on these features, there is found to be little difference between the physical space distribution due to the period of construction and only the building quality changes.
\nNext, we examined the distribution of old/main/new stock for each of the 23 wards (\nTable 2\n). The ratio of new stock ratio exceeds 70% in Chiyoda, Chuo, and Minato wards, which make up the center of Tokyo. As previously mentioned, the probability of large-scale redevelopment and so on being carried out increases for more urban areas, which may have caused this result due to active stock renewal.10\n
\n\n | Number of observations | \nRatio | \n|||||||
---|---|---|---|---|---|---|---|---|---|
Item | \nTotal | \nOld stock | \nMain stock | \nNew stock | \nTotal | \nOld stock | \nMain stock | \nNew stock | \nNew-old | \n
\nRoom equipment\n | \n|||||||||
Air conditioning | \n49.088 | \n4029 | \n17.883 | \n27.176 | \n91.7% | \n82.8% | \n89.5% | \n94.7% | \n11.9% | \n
Hot water supply | \n44.841 | \n3879 | \n16.961 | \n24.001 | \n83.7% | \n79.7% | \n84.9% | \n83.6% | \n3.9% | \n
Indoor WM area | \n43.954 | \n2663 | \n14.696 | \n26.595 | \n82.1% | \n54.7% | \n73.5% | \n92.7% | \n38.0% | \n
Separate bath and toilet | \n43.943 | \n3447 | \n12.851 | \n27.645 | \n82.1% | \n70.8% | \n64.3% | \n96.3% | \n25.5% | \n
Flooring | \n43.269 | \n3364 | \n14.915 | \n24.990 | \n80.8% | \n69.1% | \n74.6% | \n87.1% | \n18.0% | \n
Balcony | \n40.851 | \n3204 | \n15.276 | \n22.371 | \n76.3% | \n65.8% | \n76.4% | \n77.9% | \n12.1% | \n
System kitchen | \n27.758 | \n1093 | \n5666 | \n20.999 | \n51.8% | \n22.5% | \n28.4% | \n73.2% | \n50.7% | \n
Separate washroom | \n26.292 | \n1412 | \n6221 | \n18.659 | \n49.1% | \n29.0% | \n31.1% | \n65.0% | \n36.0% | \n
1 gas stove | \n25.300 | \n1416 | \n6396 | \n17.488 | \n47.2% | \n29.1% | \n32.0% | \n60.9% | \n31.8% | \n
Washlet | \n23.221 | \n1089 | \n3265 | \n18.867 | \n43.4% | \n22.4% | \n16.3% | \n65.7% | \n43.4% | \n
Bathroom dryer | \n20.322 | \n186 | \n1077 | \n19.059 | \n37.9% | \n3.8% | \n5.4% | \n66.4% | \n62.6% | \n
2 gas stoves | \n18.632 | \n1081 | \n3304 | \n14.247 | \n34.8% | \n22.2% | \n16.5% | \n49.6% | \n27.4% | \n
Reheating bath | \n15.127 | \n1268 | \n3459 | \n10.400 | \n28.2% | \n26.0% | \n17.3% | \n36.2% | \n10.2% | \n
Washroom with shower | \n12.678 | \n364 | \n1764 | \n10.550 | \n23.7% | \n7.5% | \n8.8% | \n36.8% | \n29.3% | \n
Own house rental | \n7187 | \n497 | \n1588 | \n5102 | \n13.4% | \n10.2% | \n7.9% | \n17.8% | \n7.6% | \n
IH stovetop | \n6623 | \n215 | \n2653 | \n3755 | \n12.4% | \n4.4% | \n13.3% | \n13.1% | \n8.7% | \n
Walk-in closet | \n3694 | \n88 | \n235 | \n3371 | \n6.9% | \n1.8% | \n1.2% | \n11.7% | \n9.9% | \n
Counter kitchen | \n3409 | \n70 | \n516 | \n2823 | \n6.4% | \n1.4% | \n2.6% | \n9.8% | \n8.4% | \n
With loft | \n2110 | \n19 | \n754 | \n1337 | \n3.9% | \n0.4% | \n3.8% | \n4.7% | \n4.3% | \n
Underfloor heating | \n1147 | \n8 | \n87 | \n1052 | \n2.1% | \n0.2% | \n0.4% | \n3.7% | \n3.5% | \n
\nBuilding equipment\n | \n\n | \n | \n | \n | \n | \n | \n | \n | \n |
Bicycle parking lot | \n33.795 | \n2096 | \n11.385 | \n20.314 | \n63.1% | \n43.1% | \n57.0% | \n70.8% | \n27.7% | \n
Fiber optic Internet | \n27.307 | \n2085 | \n10.056 | \n15.166 | \n51.0% | \n42.8% | \n50.3% | \n52.8% | \n10.0% | \n
TV intercom | \n26.689 | \n953 | \n4232 | \n21.504 | \n49.8% | \n19.6% | \n21.2% | \n74.9% | \n55.4% | \n
Automatic entrance door | \n26.042 | \n337 | \n5062 | \n20.643 | \n48.6% | \n6.9% | \n25.3% | \n71.9% | \n65.0% | \n
Cable TV | \n23.211 | \n1316 | \n8314 | \n13.581 | \n43.3% | \n27.0% | \n41.6% | \n47.3% | \n20.3% | \n
BS antenna | \n20.013 | \n472 | \n4430 | \n15.111 | \n37.4% | \n9.7% | \n22.2% | \n52.7% | \n43.0% | \n
Elevator | \n19.587 | \n1189 | \n5387 | \n13.011 | \n36.6% | \n24.4% | \n27.0% | \n45.3% | \n20.9% | \n
Tiling wall | \n15.751 | \n561 | \n5265 | \n9925 | \n29.4% | \n11.5% | \n26.3% | \n34.6% | \n23.1% | \n
Delivery locker | \n15.163 | \n119 | \n1550 | \n13.494 | \n28.3% | \n2.4% | \n7.8% | \n47.0% | \n44.6% | \n
Security camera | \n12.694 | \n302 | \n1849 | \n10.543 | \n23.7% | \n6.2% | \n9.3% | \n36.7% | \n30.5% | \n
CS antenna | \n11.888 | \n304 | \n1837 | \n9747 | \n22.2% | \n6.2% | \n9.2% | \n34.0% | \n27.7% | \n
Garbage 24H available | \n6670 | \n130 | \n728 | \n5812 | \n12.5% | \n2.7% | \n3.6% | \n20.3% | \n17.6% | \n
Bike parking lot | \n6335 | \n354 | \n1875 | \n4106 | \n11.8% | \n7.3% | \n9.4% | \n14.3% | \n7.0% | \n
Design by artist | \n4068 | \n29 | \n286 | \n3753 | \n7.6% | \n0.6% | \n1.4% | \n13.1% | \n12.5% | \n
Seismic structure | \n3827 | \n37 | \n702 | \n3088 | \n7.1% | \n0.8% | \n3.5% | \n10.8% | \n10.0% | \n
\nContract conditions\n | \n\n | \n | \n | \n | \n | \n | \n | \n | \n |
with NO guarantor | \n20.257 | \n1214 | \n6274 | \n12.769 | \n37.8% | \n24.9% | \n31.4% | \n44.5% | \n19.6% | \n
No pets | \n8417 | \n733 | \n3540 | \n4144 | \n15.7% | \n15.1% | \n17.7% | \n14.4% | \n-0.6% | \n
NO musical instrument | \n6704 | \n605 | \n2702 | \n3397 | \n12.5% | \n12.4% | \n13.5% | \n11.8% | \n-0.6% | \n
NO office use | \n5253 | \n297 | \n1731 | \n3225 | \n9.8% | \n6.1% | \n8.7% | \n11.2% | \n5.1% | \n
FREE Internet | \n4682 | \n100 | \n616 | \n3966 | \n8.7% | \n2.1% | \n3.1% | \n13.8% | \n11.8% | \n
Pet consultation | \n3906 | \n210 | \n801 | \n2895 | \n7.3% | \n4.3% | \n4.0% | \n10.1% | \n5.8% | \n
Pets allowed | \n2189 | \n150 | \n437 | \n1602 | \n4.1% | \n3.1% | \n2.2% | \n5.6% | \n2.5% | \n
Contract with limited term | \n1673 | \n311 | \n511 | \n851 | \n3.1% | \n6.4% | \n2.6% | \n3.0% | \n-3.4% | \n
Office use allowed | \n1319 | \n362 | \n508 | \n449 | \n2.5% | \n7.4% | \n2.5% | \n1.6% | \n-5.9% | \n
\nBuilding structure\n | \n\n | \n | \n | \n | \n | \n | \n | \n | \n |
Wooden | \n10.851 | \n1285 | \n4273 | \n5293 | \n20.3% | \n26.4% | \n21.4% | \n18.4% | \n-8.0% | \n
Steel frame | \n13.796 | \n891 | \n6044 | \n6861 | \n25.8% | \n18.3% | \n30.2% | \n23.9% | \n5.6% | \n
RC | \n23.654 | \n2074 | \n7635 | \n13.945 | \n44.2% | \n42.6% | \n38.2% | \n48.6% | \n6.0% | \n
SRC | \n3644 | \n599 | \n1626 | \n1419 | \n6.8% | \n12.3% | \n8.1% | \n4.9% | \n-7.4% | \n
Others | \n1605 | \n19 | \n404 | \n1182 | \n3.0% | \n0.4% | \n2.0% | \n4.1% | \n3.7% | \n
\nOthers\n | \n\n | \n | \n | \n | \n | \n | \n | \n | \n |
High-rise block (16F over) | \n387 | \n3 | \n54 | \n330 | \n0.7% | \n0.1% | \n0.3% | \n1.1% | \n1.1% | \n
Room on the first floor | \n13.265 | \n894 | \n5217 | \n7154 | \n24.8% | \n18.4% | \n26.1% | \n24.9% | \n6.6% | \n
Distribution of equipment in old stock, main stock, and new stock.
Outside the three wards of the city center, the ratio of new stock is over 70% in Taito and Sumida wards and over 60% in Koto and Shinagawa wards, but this may be due to the supply of large-scale high-rise condominiums due to the relaxation of regulations in the 1990s. The ratio of new stock in other wards is around 50% (\nTable 3\n).
\nWard | \nOld stock | \nMain stock | \nNew stock | \nTotal | \nOld stock | \nMain stock | \nNew stock | \n
---|---|---|---|---|---|---|---|
Chiyoda | \n39 | \n65 | \n342 | \n446 | \n8.7% | \n14.6% | \n76.7% | \n
Chuo | \n57 | \n117 | \n740 | \n914 | \n6.2% | \n12.8% | \n81.0% | \n
Minato | \n137 | \n182 | \n927 | \n1246 | \n11.0% | \n14.6% | \n74.4% | \n
Shinjuku | \n284 | \n574 | \n1264 | \n2122 | \n13.4% | \n27.0% | \n59.6% | \n
Bunkyo | \n144 | \n379 | \n706 | \n1229 | \n11.7% | \n30.8% | \n57.4% | \n
Taito | \n86 | \n210 | \n796 | \n1092 | \n7.9% | \n19.2% | \n72.9% | \n
Sumida | \n103 | \n348 | \n1077 | \n1528 | \n6.7% | \n22.8% | \n70.5% | \n
Kouto | \n134 | \n454 | \n1056 | \n1644 | \n8.2% | \n27.6% | \n64.2% | \n
Shinagawa | \n190 | \n650 | \n1463 | \n2303 | \n8.3% | \n28.2% | \n63.5% | \n
Meguro | \n134 | \n537 | \n789 | \n1460 | \n9.2% | \n36.8% | \n54.0% | \n
Ota | \n458 | \n2022 | \n3054 | \n5534 | \n8.3% | \n36.5% | \n55.2% | \n
Setagaya | \n494 | \n2605 | \n2450 | \n5549 | \n8.9% | \n46.9% | \n44.2% | \n
Shibuya | \n188 | \n425 | \n908 | \n1521 | \n12.4% | \n27.9% | \n59.7% | \n
Nakano | \n292 | \n996 | \n1367 | \n2655 | \n11.0% | \n37.5% | \n51.5% | \n
Suginami | \n421 | \n1915 | \n1778 | \n4114 | \n10.2% | \n46.5% | \n43.2% | \n
Toshima | \n189 | \n687 | \n1019 | \n1895 | \n10.0% | \n36.3% | \n53.8% | \n
Kita | \n300 | \n797 | \n1061 | \n2158 | \n13.9% | \n36.9% | \n49.2% | \n
Arakawa | \n100 | \n339 | \n582 | \n1021 | \n9.8% | \n33.2% | \n57.0% | \n
Itabashi | \n291 | \n1254 | \n1441 | \n2986 | \n9.7% | \n42.0% | \n48.3% | \n
Nerima | \n243 | \n1639 | \n1796 | \n3678 | \n6.6% | \n44.6% | \n48.8% | \n
Adachi | \n182 | \n1020 | \n1518 | \n2720 | \n6.7% | \n37.5% | \n55.8% | \n
Katsushika | \n177 | \n926 | \n1074 | \n2177 | \n8.1% | \n42.5% | \n49.3% | \n
Edogawa | \n225 | \n1841 | \n1492 | \n3558 | \n6.3% | \n51.7% | \n41.9% | \n
Total | \n4868 | \n19,982 | \n28,700 | \n53,550 | \n9.1% | \n37.3% | \n53.6% | \n
Spatial distribution of rental housing.
\n\nTable 4\n shows the ancillary equipment rate by period of construction. Equipment was classified into that ancillary to the room, ancillary to the building, and conditions of contract.11\n
\nDependent variable | \nln (monthly rent) JPY | \n\n | \n | \n | \n | \n | \n | ||||
---|---|---|---|---|---|---|---|---|---|---|---|
Estimation method | \n\n | OLS | \n|||||||||
Number of observations | \n\n | 53,520 | \n4867 | \n19,975 | \n28,678 | \n\n | |||||
Adj R-squared | \n\n | 0.894 | \n0.853 | \n0.897 | \n0.892 | \n\n | |||||
\nIndependent variables\n | \n\nMark\n | \n\nAll\n | \n\nOld stock\n | \n\nMain stock\n | \n\nNew stock\n | \nNew-old | \n|||||
\nCoef.\n | \n\nP>t\n | \n\nCoef.\n | \n\nP>t\n | \n\nCoef.\n | \n\nP>t\n | \n\nCoef.\n | \n\nP>t\n | \nCoef. | \n|||
Age of unit (year) | \n\n | −0.53% | \n0.00 | \n−0.13% | \n0.01 | \n−0.43% | \n0.00 | \n−0.63% | \n0.00 | \n−0.50% | \n|
Old stock dummy | \n\n | 1.53% | \n0.00 | \n(Omitted) | \n(Omitted) | \n(Omitted) | \n− | \n||||
Main stock dummy | \n−0.54% | \n0.01 | \n(Omitted) | \n(Omitted) | \n(Omitted) | \n− | \n|||||
New stock dummy | \nBaseline | \n(Omitted) | \n(Omitted) | \n(Omitted) | \n− | \n||||||
Floor space (m2) | \n\n | 1.69% | \n0.00 | \n1.60% | \n0.00 | \n1.61% | \n0.00 | \n1.73% | \n0.00 | \n0.13% | \n|
Time to Tokyo station (minutes) | \n−0.70% | \n0.00 | \n−0.67% | \n0.00 | \n−0.77% | \n0.00 | \n−0.64% | \n0.00 | \n0.03% | \n||
Time to the nearest station (minutes) | \n−0.62% | \n0.00 | \n−0.53% | \n0.00 | \n−0.61% | \n0.00 | \n−0.64% | \n0.00 | \n−0.11% | \n||
Building | \nWooden | \n\n | Baseline | \nBaseline | \nBaseline | \nBaseline | \n− | \n||||
Structure | \nSteel frame | \n4.28% | \n0.00 | \n7.22% | \n0.00 | \n3.67% | \n0.00 | \n3.51% | \n0.00 | \n−3.71% | \n|
\n | RC | \n\n | 9.26% | \n0.00 | \n13.04% | \n0.00 | \n8.41% | \n0.00 | \n8.17% | \n0.00 | \n−4.87% | \n
\n | SRC | \n\n | 10.75% | \n0.00 | \n13.10% | \n0.00 | \n9.72% | \n0.00 | \n8.99% | \n0.00 | \n−4.11% | \n
\n | Others | \n\n | 4.01% | \n0.00 | \n6.83% | \n0.11 | \n4.20% | \n0.00 | \n3.25% | \n0.00 | \n−3.58% | \n
Wards | \nChiyoda | \n\n | −1.44% | \n0.01 | \n8.72% | \n0.00 | \n3.21% | \n0.03 | \n−3.03% | \n0.00 | \n−11.75% | \n
\n | Chuo | \n\n | −3.77% | \n0.00 | \n0.14% | \n0.94 | \n−2.84% | \n0.01 | \n−4.29% | \n0.00 | \n−4.43% | \n
\n | Minato | \n\n | 12.01% | \n0.00 | \n17.08% | \n0.00 | \n11.20% | \n0.00 | \n10.75% | \n0.00 | \n−6.34% | \n
\n | Shinjuku | \n\n | 0.54% | \n0.07 | \n3.46% | \n0.00 | \n0.15% | \n0.77 | \n−0.54% | \n0.14 | \n−4.00% | \n
\n | Bunkyo | \n\n | −5.38% | \n0.00 | \n−4.39% | \n0.00 | \n−5.82% | \n0.00 | \n−5.52% | \n0.00 | \n−1.13% | \n
\n | Taito | \n\n | −14.43% | \n0.00 | \n−12.95% | \n0.00 | \n−14.68% | \n0.00 | \n−14.73% | \n0.00 | \n−1.78% | \n
\n | Sumida | \n\n | −15.60% | \n0.00 | \n−15.02% | \n0.00 | \n−14.04% | \n0.00 | \n−16.21% | \n0.00 | \n−1.19% | \n
\n | Koto | \n\n | −13.38% | \n0.00 | \n−12.53% | \n0.00 | \n−12.56% | \n0.00 | \n−13.80% | \n0.00 | \n−1.27% | \n
\n | Shinagawa | \n\n | −6.09% | \n0.00 | \n−2.83% | \n0.02 | \n−6.83% | \n0.00 | \n−6.62% | \n0.00 | \n−3.79% | \n
\n | Meguro | \n\n | 8.18% | \n0.00 | \n10.71% | \n0.00 | \n6.95% | \n0.00 | \n7.76% | \n0.00 | \n−2.95% | \n
\n | Ota | \n\n | −11.59% | \n0.00 | \n−9.71% | \n0.00 | \n−10.11% | \n0.00 | \n−13.14% | \n0.00 | \n−3.42% | \n
\n | Setagaya | \n\n | Baseline | \nBaseline | \nBaseline | \nBaseline | \n− | \n||||
\n | Shibuya | \n\n | 10.74% | \n0.00 | \n12.23% | \n0.00 | \n7.93% | \n0.00 | \n11.20% | \n0.00 | \n−1.03% | \n
\n | Nakano | \n\n | −4.79% | \n0.00 | \n−3.33% | \n0.00 | \n−3.76% | \n0.00 | \n−6.01% | \n0.00 | \n−2.68% | \n
\n | Suginami | \n\n | −5.20% | \n0.00 | \n−4.42% | \n0.00 | \n−4.99% | \n0.00 | \n−5.64% | \n0.00 | \n−1.22% | \n
\n | Toshima | \n\n | −7.34% | \n0.00 | \n−4.23% | \n0.00 | \n−6.35% | \n0.00 | \n−9.01% | \n0.00 | \n−4.79% | \n
\n | Kita | \n\n | −16.82% | \n0.00 | \n−14.43% | \n0.00 | \n−16.10% | \n0.00 | \n−17.69% | \n0.00 | \n−3.25% | \n
\n | Arakawa | \n\n | −19.82% | \n0.00 | \n−17.14% | \n0.00 | \n−18.83% | \n0.00 | \n−20.71% | \n0.00 | \n−3.57% | \n
\n | Itabashi | \n\n | −15.50% | \n0.00 | \n−15.73% | \n0.00 | \n−15.13% | \n0.00 | \n−15.86% | \n0.00 | \n−0.12% | \n
\n | Nerima | \n\n | −12.61% | \n0.00 | \n−10.86% | \n0.00 | \n−12.29% | \n0.00 | \n−12.95% | \n0.00 | \n−2.09% | \n
\n | Adachi | \n\n | −27.31% | \n0.00 | \n−24.71% | \n0.00 | \n−27.17% | \n0.00 | \n−27.90% | \n0.00 | \n−3.19% | \n
\n | Katsushika | \n\n | −26.27% | \n0.00 | \n−24.68% | \n0.00 | \n−26.83% | \n0.00 | \n−25.97% | \n0.00 | \n−1.29% | \n
\n | Edogawa | \n\n | −21.84% | \n0.00 | \n−19.56% | \n0.00 | \n−21.90% | \n0.00 | \n−21.92% | \n0.00 | \n−2.35% | \n
Difference between max. and min. | \n39.32% | \n\n | 41.79% | \n\n | 38.37% | \n\n | 39.10% | \n\n | −2.69% | \n
Results of hedonic equations: main estimated results.
Housing equipment items are arranged in descending order of ancillary rate in all samples, and a comparison is made between old, main, and new stocks.
\nIn terms of room equipment, the five items (i) air conditioning, (ii) hot water supply, (iii) indoor washing machine area, (iv) separate bath and toilet, and (v) flooring have a high ancillary rate of over 80%. The equipments for which there is a large difference in ancillary rate between old and new stocks (ancillary rate increased) are bathroom dryer (+62.6%), system kitchen (+50.7%), toilet with washlet (+43.4%), indoor washing machine area (+38.0%), and separate washroom (+36.0%).
\nIn terms of building equipment, the ancillary rate is over 50% for the bicycle parking lot and fiber optic Internet. The equipment for which there is a large difference in ancillary rate between old and new stocks (ancillary rate increased) is automatic entrance door (+65.0%), TV intercom (+55.4%), delivery locker (+44.6%), BS antenna (+43.0%), and security camera (+30.5%). In the conditions of contract, there are no items of note except for guarantor unnecessary, which is high at 37.8%, and only guarantor unnecessary (+19.6%) has a large difference in ancillary rate between old and new stocks (ancillary rate increased), but free Internet is also +11.8%.12\n
\nOverall, the rise in security equipment is significant in building equipment, and the rise in the equipment that improves the living convenience is significant in room equipment. In addition, the ratio of building structures also shows changes, such as wooden buildings decreasing by 8.0% and SRC by 7.4%, while steel frames increase by 5.6% and RC by 6.0%.13\n
\n\n\nTable 5\n shows the estimated results of the model. In addition, \nFigure 1\n illustrates the dummy partial regression coefficients for the equipment.
\nIndependent variables | \nAll | \nOld stock | \nMain stock | \nNew stock | \nNew-old | \n||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Coef. | \nP>t | \nCoef. | \nP>t | \nCoef. | \nP>t | \nCoef. | \nP>t | \nCoef. | \n|||
High-rise block (16F over) | \n8.74% | \n0.00 | \n14.12% | \n0.08 | \n4.35% | \n0.01 | \n9.22% | \n0.00 | \n−4.89% | \n||
Room on the first floor | \n−2.76% | \n0.00 | \n−0.55% | \n0.28 | \n−2.94% | \n0.00 | \n−3.00% | \n0.00 | \n−2.44% | \n||
RE | \nAir conditioning | \n\n | 0.82% | \n0.00 | \n1.87% | \n0.00 | \n0.18% | \n0.48 | \n0.02% | \n0.96 | \n−1.86% | \n
\n | Hot water supply | \n\n | −1.77% | \n0.00 | \n0.58% | \n0.24 | \n−1.03% | \n0.00 | \n−2.42% | \n0.00 | \n−3.01% | \n
\n | Indoor WM area | \n\n | 1.27% | \n0.00 | \n2.73% | \n0.00 | \n1.73% | \n0.00 | \n−0.77% | \n0.00 | \n−3.50% | \n
\n | Flooring | \n\nA\n | \n0.16% | \n0.22 | \n3.35% | \n0.00 | \n0.50% | \n0.01 | \n−1.81% | \n0.00 | \n−5.17% | \n
\n | Separate bath and toilet | \n\nA\n | \n5.07% | \n0.00 | \n5.58% | \n0.00 | \n6.46% | \n0.00 | \n1.55% | \n0.00 | \n−4.03% | \n
\n | balcony | \n\nA\n | \n0.84% | \n0.00 | \n3.28% | \n0.00 | \n1.82% | \n0.00 | \n0.01% | \n0.95 | \n−3.27% | \n
\n | System kitchen | \n\n | 1.85% | \n0.00 | \n4.62% | \n0.00 | \n2.40% | \n0.00 | \n0.79% | \n0.00 | \n−3.83% | \n
\n | Separate washroom | \n\n | 2.11% | \n0.00 | \n2.18% | \n0.00 | \n2.35% | \n0.00 | \n2.16% | \n0.00 | \n−0.03% | \n
\n | 1 gas stove | \n\n | −0.52% | \n0.00 | \n−1.09% | \n0.04 | \n0.13% | \n0.52 | \n−1.13% | \n0.00 | \n−0.05% | \n
\n | Washlet | \n\nA\n | \n2.20% | \n0.00 | \n3.17% | \n0.00 | \n2.75% | \n0.00 | \n1.16% | \n0.00 | \n−2.01% | \n
\n | Bathroom dryer | \n\nA\n | \n1.35% | \n0.00 | \n4.90% | \n0.00 | \n3.07% | \n0.00 | \n1.29% | \n0.00 | \n−3.61% | \n
\n | 2 gas stoves | \n\n | −0.34% | \n0.01 | \n−0.03% | \n0.95 | \n1.17% | \n0.00 | \n−0.09% | \n0.55 | \n−0.05% | \n
\n | Reheating bath | \n\nC\n | \n2.22% | \n0.00 | \n0.26% | \n0.56 | \n0.06% | \n0.82 | \n3.45% | \n0.00 | \n3.18% | \n
\n | Washroom with shower | \n\n | −1.16% | \n0.00 | \n0.64% | \n0.41 | \n−0.18% | \n0.55 | \n−1.33% | \n0.00 | \n−1.97% | \n
\n | Own house rental | \n\nD\n | \n−2.92% | \n0.00 | \n−0.54% | \n0.45 | \n−1.87% | \n0.00 | \n−3.42% | \n0.00 | \n−2.88% | \n
\n | IH stovetop | \n\nD\n | \n−1.03% | \n0.00 | \n−0.65% | \n0.49 | \n−1.68% | \n0.00 | \n−1.62% | \n0.00 | \n−0.97% | \n
\n | Walk-in closet | \n\nB\n | \n1.22% | \n0.00 | \n4.33% | \n0.00 | \n0.77% | \n0.29 | \n0.88% | \n0.00 | \n−3.45% | \n
\n | Counter kitchen | \n\n | 1.10% | \n0.00 | \n2.83% | \n0.08 | \n0.03% | \n0.95 | \n0.72% | \n0.00 | \n−2.11% | \n
\n | With loft | \n\n | 4.72% | \n0.00 | \n5.59% | \n0.07 | \n4.08% | \n0.00 | \n4.19% | \n0.00 | \n−1.40% | \n
\n | Underfloor heating | \n\nC\n | \n5.19% | \n0.00 | \n−1.55% | \n0.73 | \n−1.09% | \n0.36 | \n4.97% | \n0.00 | \n6.52% | \n
BE | \nBicycle parking lot | \n\n | −0.94% | \n0.00 | \n−0.71% | \n0.09 | \n−0.70% | \n0.00 | \n−0.96% | \n0.00 | \n−0.25% | \n
\n | Fiber optic Internet | \n\n | −1.04% | \n0.00 | \n−1.83% | \n0.00 | \n−0.93% | \n0.00 | \n−0.91% | \n0.00 | \n0.92% | \n
\n | TV intercom | \n\nA\n | \n1.08% | \n0.00 | \n3.99% | \n0.00 | \n1.71% | \n0.00 | \n−0.15% | \n0.34 | \n−4.14% | \n
\n | Automatic entrance door | \n\nA\n | \n1.74% | \n0.00 | \n4.47% | \n0.00 | \n2.72% | \n0.00 | \n1.63% | \n0.00 | \n−2.84% | \n
\n | Cable TV | \n\n | −0.63% | \n0.00 | \n−1.61% | \n0.00 | \n−0.26% | \n0.13 | \n−0.51% | \n0.00 | \n1.10% | \n
\n | BS antenna | \n\n | −1.25% | \n0.00 | \n−2.58% | \n0.01 | \n−0.05% | \n0.83 | \n−1.45% | \n0.00 | \n1.13% | \n
\n | Elevator | \n\n | 2.52% | \n0.00 | \n2.89% | \n0.00 | \n2.10% | \n0.00 | \n2.63% | \n0.00 | \n−0.26% | \n
\n | Tiling wall | \n\n | −1.44% | \n0.00 | \n−1.91% | \n0.00 | \n−1.21% | \n0.00 | \n−0.97% | \n0.00 | \n0.93% | \n
\n | Delivery locker | \n\nA\n | \n2.03% | \n0.00 | \n4.55% | \n0.00 | \n1.42% | \n0.00 | \n2.68% | \n0.00 | \n−1.87% | \n
\n | Security camera | \n\nC\n | \n1.33% | \n0.00 | \n0.62% | \n0.45 | \n1.06% | \n0.00 | \n1.61% | \n0.00 | \n0.99% | \n
\n | CS antenna | \n\n | 0.60% | \n0.00 | \n1.76% | \n0.15 | \n−0.69% | \n0.04 | \n1.25% | \n0.00 | \n−0.51% | \n
\n | Garbage 24H available | \n\nC\n | \n−0.13% | \n0.49 | \n−1.58% | \n0.18 | \n−0.84% | \n0.06 | \n0.98% | \n0.00 | \n2.56% | \n
\n | Bike parking lot | \n\nC\n | \n0.75% | \n0.00 | \n−0.38% | \n0.61 | \n0.29% | \n0.28 | \n0.94% | \n0.00 | \n1.32% | \n
\n | Design by artist | \n\n | 0.45% | \n0.02 | \n0.62% | \n0.80 | \n1.78% | \n0.01 | \n0.52% | \n0.01 | \n−0.09% | \n
\n | Seismic structure | \n\n | −2.25% | \n0.00 | \n−4.11% | \n0.05 | \n−1.95% | \n0.00 | \n−1.82% | \n0.00 | \n2.29% | \n
CC | \nwith NO guarantor | \n\nD\n | \n−0.82% | \n0.00 | \n−1.47% | \n0.00 | \n−1.07% | \n0.00 | \n−0.23% | \n0.08 | \n1.24% | \n
\n | No pets | \n\n | 0.06% | \n0.77 | \n−1.46% | \n0.12 | \n0.37% | \n0.25 | \n0.47% | \n0.07 | \n1.93% | \n
\n | Pet consultation | \n\n | 3.24% | \n0.00 | \n2.85% | \n0.00 | \n4.13% | \n0.00 | \n3.10% | \n0.00 | \n0.25% | \n
\n | Pets allowed | \n\n | 2.57% | \n0.00 | \n2.17% | \n0.05 | \n3.40% | \n0.00 | \n2.35% | \n0.00 | \n0.18% | \n
\n | No musical instrument | \n\n | −0.32% | \n0.15 | \n1.61% | \n0.11 | \n0.22% | \n0.54 | \n−0.83% | \n0.00 | \n−2.44% | \n
\n | No office use | \n\n | 0.81% | \n0.00 | \n−1.18% | \n0.18 | \n0.01% | \n0.97 | \n1.13% | \n0.00 | \n2.31% | \n
\n | Office use allowed | \n\nC\n | \n5.04% | \n0.00 | \n2.34% | \n0.00 | \n4.01% | \n0.00 | \n6.11% | \n0.00 | \n3.77% | \n
\n | Free Internet | \n\nB\n | \n0.82% | \n0.00 | \n3.01% | \n0.02 | \n0.58% | \n0.19 | \n0.68% | \n0.00 | \n−2.33% | \n
\n | Contract with limited term | \n\nB\n | \n−0.82% | \n0.00 | \n−2.80% | \n0.00 | \n−0.86% | \n0.08 | \n−0.30% | \n0.39 | \n2.50% | \n
_cons | \n\n | \n | 0.00% | \n0.00 | \n0.00% | \n0.00 | \n0.00% | \n0.00 | \n0.00% | \n0.00 | \n– | \n
Estimated results of room equipment (RE), building equipment (BE), and contract conditions (CC).
Marginal price effect on RE, BE, and CC.
Looking at the estimated results, as floor area increases, rent goes up, and as the number of minutes on foot from the station increases or the railway travel time from Tokyo station increases, the rent goes down. When taking a wooden structure as the baseline of the building structure, the rent will increase in the order of steel frame, RC, and SRC. The rent varies greatly depending on the ward in which the property is located; a high-rise condominium is a positive driver, and a 1F apartment positions a negative driver for rent. These results are consistent with previous studies and the intuition of market participants.
\nThe effect of the number of years since construction differs depending on the period of construction, and as a whole, there is a −0.53% reduction in rent per year after construction. However, looking at the old/main/new period of construction dummy, the speed of reduction is high for new stock and low for old stock. This shows that the effect of years since construction is nonlinear, indicating that the decline in rent will be considerably smaller after a certain number of years. Such nonlinearity is also consistent with a series of previous studies.
\nThe influence of the ancillary equipment situation on the rent changes according to the period of construction (\nFigure 1\n). The change can be classified into the following four patterns.14\n
Pattern A: Items considered to have lost value because of commonness
In Pattern A, it is assumed that the equipment premium that was once a differentiating factor for price was lost because of the advancing commonness of equipment. This corresponds to room equipment (RE) such as flooring, separate bath and toilet, balcony, toilet with washlet, and bathroom dryer and building equipment (BE) such as TV intercom, automatic entrance door, delivery locker, and so on. In all cases, the ancillary rate has increased, so the superiority of the ancillary equipment falls, the influence on rent differs between old and new stocks, and such influence is generally small in new stock. Flooring and TV intercoms have a negative impact on new stock. This indicates that flooring and TV intercoms are no longer special equipment and do not offer price advantages.
Pattern B: Items considered to have lost value because they satisfied limited needs
In Pattern B, it is assumed that the price premium of the equipment was lost because the needs the equipment satisfied were limited in the first place and have been satisfied. The walk-in closet corresponds to this in room equipment (RE), nothing corresponds to this in building equipment (BE), and free Internet and contract with limited term correspond to this in contract conditions (CC). Contract with limited term has a negative impact on rent in new stock.
Pattern C: Items for which demand is considered to be increasing but the ancillary rate is low, and value is increasing
Pattern C is such that although consumer demand is increasing over time, a price premium exists because of the low ancillary rate in the housing stock. Equipment such as a reheating bath and underfloor heating corresponds to this in room equipment (RE), and security cameras, garbage disposal available 24-hours a day, and bike parking correspond to this in building equipment (BE). Items such as use as an office correspond to this in contract conditions (CC). In particular, the reheating bath and use as an office have a significant influence of +3.45 and +3.77%, respectively.
Pattern D: Items considered to be due to other individual factors
Items for which a price premium exists due to other factors correspond to owner-owned condominium for lease in room equipment (RE) and guarantor unnecessary in contract conditions (CC). Regarding condominium for lease, the effect of the increase in supply is considered to be caused by the change in the social situation, where the tendency for relatives to avoid guaranteeing rent obligations has strengthened.
\n\nFigure 2\n shows the depreciation rate of all rents (All) and for the case where the ancillary equipment situation is poor (Poor). The equipment being poor indicates there is no (i) washlet, (ii) bathroom dryer, (iii) reheating bath, (iv) TV intercom, (iv) automatic entrance door, (iv) delivery locker, or (vii) security camera. These types of equipment have become more common in recent years and can be installed in existing buildings.
\nDepreciation in rental housing.
There were 13,033 properties with poor equipment; a regression analysis similar to the previous one was carried out with the logarithm of the rent as a target variable, and the regression coefficient of the years since construction was obtained. That is, as of October 2018, data points without the aforementioned equipment exist regardless of whether they are new, main, or old stock. This means that low-quality rental housing that does not have equipment that has become popular in recent years is still supplied. By extracting such data and comparing the depreciation of rental housing with new functions that benefited from technological progress and the depreciation of low-quality rental housing with no new functions, it is possible to extract the depreciation that accompanies obsolescence.
\nIn \nFigure 2\n, the depreciation rate for each period is calculated with the rent at the time of construction as 100 to demonstrate the theoretical effect of the increasing number of years since construction on rent. When comparing the depreciation rate of all rents with that of rents of properties with a poor ancillary equipment situation, the depreciation rate increases in all cases (new, main, and old stocks). Roughly 60 years after construction, the difference was found to be 5.5%.
\nIn addition to the measurement of the magnitude of the age effect accompanying obsolescence, this result means that rent depreciation can be mitigated if appropriate ancillary equipment investment is made with respect to the demands for housing equipment that have increased with economic growth and changes in lifestyle. We believe that this will provide pointers for high-level policy with respect to Japan’s rental housing market, where the aging of stock will advance in the future.
\nChanges in prices over time are broken down into changes due to supply-demand relationships and those caused by quality changes. In particular, this means that in markets with rapid technological progress, the price rise accompanying quality change increases as new products are introduced successively, but at the same time, in markets where such new products are introduced, the speed of obsolescence is fast.
\nCompared with Western countries, new products are easy to create in the Japanese housing market. The background to this is there are many housing providers and a comparatively large number of companies that do business throughout Japan and overseas. Such companies possess, for example, think tanks to develop new products, and are developing integrated business from large-scale procurement of raw materials to design, construction, sales, and management.
\nIn this study, we focused on the period in which the housing was supplied and clarified the types of functions and equipment supplied to the market in each period and the extent of the marginal price effect in 2018. In addition, we measured the magnitude of obsolescence that accompanies the addition of a new function.
\nThe conclusion can be summarized as follows.
Rent is strongly influenced by the floor area, years since construction, building structure, number of minutes on foot from the nearest station, railway travel time from Tokyo station, location, and so on. This confirms conclusions provided by previous studies.
The ancillary conditions of housing equipment vary greatly depending on the construction year. This suggests that the Japanese rental housing market is strongly influenced by regulations such as the Building Standards Act and the improvement of living standards by economic growth.
Some ancillary conditions have a large influence on rent, but if the ancillary rate increases, the influence becomes smaller due to commonness, and housing equipment responding to new needs have a positive influence on rent.
Even if the number of years since construction is large, depreciation of the rent can be reduced if additional investment in appropriate housing equipment is carried out.
These evaluations are for the present time, and they are expected to change in the future as housing equipment ancillary rates change and social conditions, lifestyles, and resident demands evolve. The conclusion of this study shows the possibility of increasing profitability by responding to resident demands and raising rent through adding ancillary equipment, even in countries in Europe and in the United States, where housing building restrictions are strict.
\nHowever, several tasks remain. First, it is possible to add new functionality even to housing classified as old stock through large-scale renovation investment. In this sense, this study has not been able to measure the effect of investment in renovation. Moreover, in order to generalize the study result, it is necessary to identify appropriate housing equipment according to changes in lifestyle and social conditions, in addition to the influence of housing equipment on rent. Even if the scope is restricted to Japan, it is also necessary to consider points such as the type of differences that arise depending on the scale of the city and the standard of living and climate in different regions, as well as whether the necessary housing equipment differs according to the age, gender, family composition, income, and so on of the residents.
\nWe would like to clarify these questions as future research tasks.
\nThe second author gratefully acknowledges the financial support of the Nomura Foundation.
\nIntechOpen publishes different types of publications
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\n\nEdited Volumes can be comprised of different types of chapters:
\n\nRESEARCH CHAPTER – A research chapter reports the results of original research thus contributing to the body of knowledge in a particular area of study.
\n\nREVIEW CHAPTER – A review chapter analyzes or examines research previously published by other scientists, rather than reporting new findings thus summarizing the current state of understanding on a topic.
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\n\nPERSPECTIVE CHAPTER – A perspective chapter offers a new point of view on existing problems, fundamental concepts, or common opinions on a specific topic. Perspective chapters can propose or support new hypotheses, or discuss the significance of newly achieved innovations. Perspective chapters can focus on current advances and future directions on a topic and include both original data and personal opinion.
\n\nINTRODUCTORY CHAPTER – An introductory chapter states the purpose and goals of the book. The introductory chapter is written by the Academic Editor.
\n\nMonographs is a self-contained work on a particular subject, or an aspect of it, written by one or more authors. Monographs usually have between 130 and 500 pages.
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\n\nSingle or multiple author manuscript
\n\nCompacts provide a mid-length publishing format that bridges the gap between journal articles, book chapters, and monographs, and cover content across all scientific disciplines.
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