Study of factors influencing apartment prices in Prishtina, Kosovo

Visar Hoxha, Dhurata Hoxha and Jehona Hoxha

International Journal of Housing Markets and Analysis, 2021, vol. 15, issue 5, 1242-1258

Abstract: Purpose - The purpose of this study is to identify which are the main factors influencing the apartment prices in Prishtina, the capital of Kosovo, during the period 2018–2020. The factors identified will be used by real estate developers and investors for better decision-making in apartment investments. Design/methodology/approach - The research methodology is quantitative. The methodology analyzes 1,468 real estate transaction contracts of apartment buildings using a probability random sampling. The research methodology uses multiple regression analysis to identify whether the research model is significant in predicting apartment prices but also identify which are the main factors that influence the apartment prices in Prishtina, Kosovo. Findings - The present study finds that location, size, floor, access to road and building quality affect apartment prices in Prishtina, whereas surprisingly access to green spaces and availability of parking spaces have no statistically significant effect on apartment prices in Kosovo. Research limitations/implications - The study has great implications for the real estate developers in Prishtina, Kosovo showing how to improve their decision-making process in real estate investments to know which characteristics are most valued by investors for investment in new apartment buildings in Prishtina, Kosovo and local authorities in Prishtina, Kosovo to modernize the access to road infrastructure for its inhabitants and adopt building regulations that will enforce strict criteria as far as building quality is concerned. Originality/value - The study is the first quantitative study that studies the factors influencing the apartment prices in Prishtina, Kosovo.

Keywords: Multiple regression; Kosovo; Factors; Prishtina; Apartment prices; Real estate investors (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:ijhma-08-2021-0086

DOI: 10.1108/IJHMA-08-2021-0086

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