Assessing the effective factors on housing price through Hedonic price estimation method (case study of Narmak)

Subject Areas : Urban Management Studies

هادی رضایی راد ¹ , مجتبی رفیعیان ² , محمدرضا بمانیان ³

1 - مسئول مکاتبات
2 - ندارد
3 - ندارد

Received: 2014-09-10 Accepted : 2014-09-10 Published : 2011-12-22

Keywords: Housing price, housing renewal, Hedonic price estimation metho, Narmak neighborhood,

Abstract :

Introduction: Housing and its problems is one of the most important concerns of Iran's metropolitans. Residential and commercial land price is one of the economical factors affecting development of each region. It is axiomatic that residential units price is one of the most important influential factors on their demand & supply. Thus assessing the effective factors on land price is very important. Narmak region approximately fallows the real estate-land market regulation in Tehran. The unique attribute of this neighborhood is its unified characteristic caused by its small squares.  Unified residency quality has caused to sameness of land and real estate price through the whole Narmak region which consequently leaded to equal absorption of investment across this region. Thus there is no high raised construction in this neighborhood. In this research we tried to assess the extent to which these factors are affecting the housing price in Narmak through Hedonic housing price estimation Method: Methodology of research is descriptive- analytical, and the method is OLS method and Lin-Lin function. Finding: Among effective factors on price, factors of  population density; even-odd traffic policy; building age; and average units area had negative effect, and number of floors; residential and  commercial units had the positive effect. Results : The coefficients of these factors are as bellow: Coefficient of floor is 37.25 commercial units 0.44, residential units 0.22, population are 0.2, traffic policy is 32.17, age is 1.17, and unit's average area is 0.13.