Application of Hedonic Model to Determine Residential Land Valuation in Suburban Areas: The Case of Hue City, Vietnam-Reference-Cited by-同舟云学术

Application of Hedonic Model to Determine Residential Land Valuation in Suburban Areas: The Case of Hue City, Vietnam

Published:2024-04-19 Issue:2 Volume:32 Page:70-79
ISSN:2300-5289
Container-title:Real Estate Management and Valuation
language:en
Short-container-title:

Author:

Thanh Le Huu Ngoc¹^ORCID,Ngu Nguyen Huu¹^ORCID

Affiliation:

1. 1 University of Agriculture and Forestry, Hue University , 102 Phung Hung st., Hue City, Thua Thien Hue province , VietNam

Abstract

Abstract The paper aims to promote a model for determining residential land prices within a suburb of Hue city, Vietnam to improve the efficiency of land price determination and management. The study conducted surveys of 27 variables of 200 residential land plots in order to run the hedonic model using SPSS 26.0 software. The result developed a model that explained 78% of the change in land prices by incorporating five factors: area of land, width of road attached to the land plot, distance to hospital, ability to generate cash flow and planning information. Meanwhile, the writers also produced a map of residential land prices in the 2022 suburban areas of Hue city, Vietnam. This is a helpful tool in land market consulting and land valuation procedures.

Publisher

Walter de Gruyter GmbH

Link

https://www.sciendo.com/pdf/10.2478/remav-2024-0016

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