The Hedonic Method in Evaluating Apartment Price: A Case of Ho Chi Minh City, Vietnam

Nguyen, Ha Minh; Phan, Hung; Tran, Tri Van; Tran, Thang Kiem Viet

doi:10.13106/jafeb.2020.vol7.no6.517

Cited by 3 publications

(4 citation statements)

References 6 publications

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“…Table 2 summarizes the scales of factors. From testing the scales through Cronbach's alpha, the scales in Table 2 achieved reliability based on the principle of evaluating the total Cronbach's alpha coefficient; The correlation coefficient of the total variable and the coefficient "Cronbach's Alpha if Item Deleted" satisfy the requirements [34]. Therefore, the scales are all reliable.…”

Section: -1-research Resultsmentioning

confidence: 99%

Factors of Value Chain Affect Bank Efficiency

Nguyen

2023

Emerg Sci J

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This paper aims to determine and estimate the factors in the value chain that affect the efficiency of state-owned commercial banks in Vietnam. The study employs a combination of qualitative techniques, such as conducting interviews with top executives, financial managers, chief accountants, and employee surveys, along with quantitative methods like ordinary least squares analysis. The outcomes reveal four critical segments within the value chain – the retail department, operation department, back office, and call center – all of which significantly influence the efficiency of the banks. Additionally, drawing upon value chain theory and Porter's model (1985), the author underscores the significance of implementing a robust value chain strategy. This strategic approach has the potential to substantially enhance the competitive advantages of state-owned commercial banks in Vietnam. Doi: 10.28991/ESJ-2023-07-06-010 Full Text: PDF

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Section: -1-research Resultsmentioning

confidence: 99%

Factors of Value Chain Affect Bank Efficiency

Nguyen

2023

Emerg Sci J

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“…The provision of a shared swimming pool and the gym has been found to have a positive influence on apartment values elsewhere (Kieti and Ogolla, 2021;Nguyen, 2020;Sirmans et al, 2005). The existing research has also established that quality floor finishes have positive affection on property values (Nguyen et al, 2020;Thanasi, 2016). The number of bedrooms and bathrooms has also been found to have a positive influence on the property prices (Ahmed and Yacim, 2018;Thanasi, 2016;Randeniya et al (2017); Oduwole and Eze, 2013).…”

Section: Discussionmentioning

confidence: 97%

“…The apartment built-up area, the number of bathrooms and bedrooms, the apartment floor finishes, reference price and the apartment interior were all found to be positively influencing apartment prices. However, apartment price trends, distance to the CBD and the potential of the apartment building were found to be affecting apartment values negatively (Nguyen et al, 2020). For Nguyen (2020), he established that the following variables are positively correlated to the price of residential houses in the Cities of Ho Chi Minh and Ha Noi: the size of a house, the number of bedrooms, the house type and structure and the level of amenities provided.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Other recent studies that have used the HPM to value properties include research by Nguyen et al (2020) and Nguyen (2020), both carried out in the Vietnam property market. The apartment built-up area, the number of bathrooms and bedrooms, the apartment floor finishes, reference price and the apartment interior were all found to be positively influencing apartment prices.…”

Section: Literature Reviewmentioning

confidence: 99%

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Modelling apartments values in the Nairobi metropolitan area, Kenya

Museleku

2022

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PurposeThe purpose of this paper is to determine the most significant factors influencing apartment values in Nairobi Metropolitan Area (NMA), Kenya and develop a valuation model using the identified variables. The paper is thus promoting the adoption of advanced, more reliable and accurate valuation methods in developing economies such as Kenya. Therefore, the paper demonstrates the potential of the hedonic pricing method (HPM) in property valuation by making objective adjustments to comparable sales data.Design/methodology/approachThe paper utilizes a case study design by analysing recent (January 2020 to December 2021) apartment sales and apartment attributes in NMA. A sample size of 264 transactions was analysed using the HPM.FindingsThe study identified six significant factors affecting apartment values in the study area: apartment size, location, floor finishes, provision of shopping facilities, swimming pool and gym. A valuation model has been developed using the six variables.Research limitations/implicationsThe paper is contributing to the ongoing global debate on the accuracy, reliability and validity of property valuations with particular emphasis on the developing economies to adopt the more accurate, efficient and reliable valuation approaches.Practical implicationsThe findings are useful to property valuers and estate managers in determining the most statistically significant attributes affecting apartment values in the NMA hence enabling them to offer informed professional advice. However, the findings of the study are limited to the study area since real estate is heterogeneous.Social implicationsProperty investors, financiers and other stakeholders in the society will benefit from the findings of this study in their decision-making process. Additionally, wide adoption of the more reliable and accurate valuation approaches would foster public confidence in valuation and estate management professional services leading to enhanced consumption of these services by the society and promoting public care.Originality/valueThe paper is promoting valuation accuracy, efficiency and reliability in the developing economies by advocating for advanced valuation methods. It is the first attempt to develop a valuation model for apartments in the NMA, the capital city of Kenya and the business hub of East and Central Africa.

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