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

Thanh Le Huu Ngoc () and Ngu Nguyen Huu ()
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Thanh Le Huu Ngoc: University of Agriculture and Forestry, Hue University, 102 Phung Hung st., Hue City, Thua Thien Hue province, VietNam
Ngu Nguyen Huu: University of Agriculture and Forestry, Hue University, 102 Phung Hung st., Hue City, Thua Thien Hue province, VietNam

Real Estate Management and Valuation, 2024, vol. 32, issue 2, 70-79

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.

Keywords: hedonic; land price; residential land; suburb (search for similar items in EconPapers)
JEL-codes: C50 R39 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:32:y:2024:i:2:p:70-79:n:1006

DOI: 10.2478/remav-2024-0016

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