Recent evidence of submarket formation in metropolitan Helsinki and Amsterdam. Various location specific attributes contribute to the spatial dynamics of housing markets. This effect may partly be of a qualitative and discontinuous nature, which causes market segmentation into submarkets. The question however is, whether the most relevant partitioning criteria is directly related to the transaction price of to other, socioeconomic, demographic and physical features of the location. Two neural network techniques are used for analysing statistical house price data from Amsterdam and Helsinki. The analytic hierarchy process is