An Hedonic Price Model of New Housing in Indonesia

Samapatti, Supardi; Tay, Linda

doi:10.1080/14445921.2002.11104123

Cited by 6 publications

(3 citation statements)

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“…Samapatti and Tay (2002) examine the average prices of new housing in the Greater Jakarta Metropolitan Area. Three models are used: for small, medium, and large sizes of development area.…”

Section: Using the Linear Regression Modelsmentioning

confidence: 99%

What location attributes are the most important for market value?

Kryvobokov

2007

Property Management

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PurposeThe purpose of this paper is to extract the location attributes, which are the most important for market value of real estate in countries with well‐developed markets.Design/methodology/approachIn this paper meta‐analysis is applied for extraction of location attributes and the weights of their importance. The outcomes of existing regression models created in different countries mainly with a developed real estate market are used. A total of 81 models described in 39 sources are analysed.FindingsThe paper finds that the lists of statistically significant location attributes, which influence market value, are obtained for different real estate types. The weights of attributes' relative influence are compared, where possible.Research limitations/implicationsIn the paper meta‐analysis is also applied for a limited number of empirical studies. However, for land and residential real estate the number of sources is sufficient to make a substantiated conclusion. The application of the outlined location attributes is a subject for future research.Practical implicationsThe paper shows that the lists of important location attributes can be used for practical specification of the valuation models for urban land and other real estate in countries where the market is underdeveloped, to increase the degree of objectivity and market orientation.Originality/valueThe paper is one of the few studies which synthesize the findings of existing regression models with respect to location attributes generally. The method of weights' estimation is original. The result of the paper has practical value for real estate valuation in countries with an underdeveloped market.

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“…Samapatti and Tay (2002) examine the average prices of new housing in the Greater Jakarta Metropolitan Area. Three models are used: for small, medium, and large sizes of development area.…”

Section: Using the Linear Regression Modelsmentioning

confidence: 99%

What location attributes are the most important for market value?

Kryvobokov

2007

Property Management

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“…The preferred location of the house is by the side of the bus stop, airport, school, hospital and city centers. Environmental attributes can be the quality of air and quality and availability of water (Samapatti & Tay, 2002). Sila (2015) stated that location of house, wall material, and number of bedrooms and toilets had positive and significant effects on the price of the house.…”

Section: Public Interest Statementmentioning

confidence: 99%

Determinants of residential house rental price in Debre Berhan Town, North Shewa Zone, Amhara Region, Ethiopia

Fikire

2021

Cogent Economics & Finance

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This study aims to investigate the determinants of residential house rental price in Debre Berhan town, North Shewa Zone, Amhara Region, Ethiopia. For this purpose, the study used both primary and secondary data. The data were obtained from 385 sample respondents. Questionnaires were used to collect the necessary data. Descriptive and inferential statistics were employed to analyze the data. Ordinary least square estimation technique was used to examine the determinants of residential house rental price. It found that floor material, age of the house, land size, access to water, near to amenities and the numbers of the bedroom are the determinants of residential house rental price in Debre Berhan Town, North Shewa Zone. The study suggests that zonal and regional governments need to establish residential house rent control programs to stabilize the unaffordable rental price of houses in Debre Berhan Town.

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“…In Latin America and Asia, the use of a hedonic price model to examine housing market dynamics has been growing in popularity. Examples include Pasha and Butt (1996) who study Pakistan, Samapatti and Tay (2002) who study Indonesia and Guevara et al (2016) who study Costa Rica. In Africa, the application of the hedonic pricing model is widely documented mainly in Nigeria in West Africa.…”

Section: House Price Indices In Developing Marketsmentioning

confidence: 99%

International Real Estate Review

Baako¹

2019

IRER

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In many developing countries, house price index construction is sparse, leaving decisions which hinge on housing performance data with little corroboratory evidence. Thus, the purpose of this research is to ascertain the micro-level determinants of house prices in Ghana. Using a qualitative approach, data are collected through semi-structured interviews with twenty expert property practitioners including valuers, academics, property developers, mortgage providers and housing agents. This research uncovers interesting findings including the relevance of unexpired lease terms, and the impacts of market dynamics such as the physical heterogeneity of properties and hearsay. The study also reveals that an index needs to be created and managed through a collaborative effort between the government and industry to ensure wide acceptability. This study lends guidance to housing policy decisions at the local and national levels, and provides a much-needed source of data for further academic inquiry into the housing dynamics in Ghana.

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An Hedonic Price Model of New Housing in Indonesia

Cited by 6 publications

References 0 publications

What location attributes are the most important for market value?

What location attributes are the most important for market value?

Determinants of residential house rental price in Debre Berhan Town, North Shewa Zone, Amhara Region, Ethiopia

International Real Estate Review

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