Interaction model development in determining house prices by using goal programming

Nerda Zura Zaibidi, Syuhaddah Saiddin, Adyda Ibrahim and Siti Aisyah Saupi

International Journal of Operational Research, 2025, vol. 53, issue 2, 255-268

Abstract: The buyer, the real estate developer, and the government are typically the three main parties engaged in housing projects. The interaction between these parties affects the housing market, particularly the prices of homes. The interaction has become more difficult because of the disparities in preferences between the parties. The ideal strategy for creating a fruitful partnership between these parties is still a mystery. As a result, this study has established a decision maker interaction model for getting mutual understanding on a housing project. Goal programming and a simulation method were used in this work to develop a successful interaction model. The average dwelling price that all the parties had mutually agreed upon was represented by the mean value of RM 169,878 and it is skewed between RM 85,000 and RM 350,000. The results of this study can be used by developers in Malaysia to design homes that are affordable and appealing to buyers, preventing problems with long-term unsold homes.

Keywords: interaction model; house prices; multi-objective optimisation; goal programming. (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijores:v:53:y:2025:i:2:p:255-268

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