More than that, the findings are also essential for other countries, especially those with a nascent housing market like Vietnam. Originality/Value: The study confirms the hedonic pricing model can be well-applied to accurately estimate the price of houses in Vietnam. This approach is applied to compare different pricing strategies of companies in the digital still camera. Thus far, the development of hedonic pricing regression for repeated measurements has received relatively little attention. Practical Implications: The estimated results are typical and reliable, which can be applied universally. This paper introduces a mixed effects model for an application of the hedonic price regression model for panel data. Also, factors including house size, house type, house structure, number of bedrooms, amenities around the house exert a positive influence on the price. ![]() Specifically, house price is negatively affected by its proximity to the city center. When running this type of model, if non-environmental factors are controlled. This can be said to be a big success in giving first empirical evidence in Vietnam on this matter. The hedonic pricing model is used to estimate the extent to which each factor affects the market price of the property. Data are collected through the survey into housing projects in Ho Chi Minh and Ha Noi city, which are the two largest cities in Vietnam.įindings: The findings reveal that the hedonic pricing model can be applied to estimate house price in Vietnam’s housing market. Although the set of prices influencing characteristics is different across different markets, and the variables included in the hedonic price model are also. Based on this, the article adopts the Ordinary Least Squares (OLS) regression in combination with robustness statistics in the model estimation, so the estimated results on house price are reliable and able to be widely applied. Purpose: The article applies the hedonic pricing model to estimate house price in the housing market of Vietnam, which is a country with a fledgeling housing market, so the study is expected to bring interesting findings.ĭesign/Methodology/Approach: By applying the hedonic pricing model, most of the previous studies have reported that house price is significantly influenced by the characteristics of the house itself, its location and surrounding facilities.
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