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http://dx.doi.org/10.13106/jafeb.2020.vol7.no6.517

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

NGUYEN, Ha Minh (Ho Chi Minh City Open University)
PHAN, Hung Quoc (Heineken Vietnam Brewery Limited Company)
TRAN, Tri Van (Ho Chi Minh Youth Union, Ho Chi Minh City Open University)
TRAN, Thang Kiem Viet (Faculty of Business Administration, Ho Chi Minh City Open University)
Publication Information
The Journal of Asian Finance, Economics and Business / v.7, no.6, 2020 , pp. 517-524 More about this Journal
Abstract
The study examines factors affecting apartment prices in the real estate market of Ho Chi Minh City, Vietnam. The study uses primary data based on surveys of customers who have traded successfully, and collects transaction data from real estate trading companies that are the top investors in Ho Chi Minh City real estate market. The collected data include 384 observations in a total of 24 districts, detailing that each district surveyed on a minimum of four projects, each project carried out a survey on a minimum of four apartments. The survey collected 339 valid questionnaires for analysis and model testing. This study employs multivariate regression with the data of 339 observations. The research results reveal that five significant factors affect positively the price of apartments in Ho Chi Minh City - apartment area, toilet and bedroom, apartment floor, reference price, and apartment interior. Besides, there are three significant factors affecting negatively the price of apartments - next price trend, distance to city center, and potential building. From the results, the research proposes solutions in the pricing of apartments in the real estate market in Ho Chi Minh City - better information system, a real estate transaction index, and stricter management of small brokerage activities.
Keywords
Hedonic Method; Price; Apartments; Real Estate; Vietnam;
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Times Cited By KSCI : 6  (Citation Analysis)
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