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Land Price Regression Model and Land Value Region Map to Support Residential Land Price Management: A Study in Nghe an Province, Vietnam

Author

Listed:
  • Ha Pham Thi

    (School of Agriculture and Resources, Vinh university in Vinh, Nghe An, Vietnam)

  • Tuan Nguyen Tran

    (School of Agriculture and Resources, Vinh university in Vinh, Nghe An, Vietnam)

  • Van Quan Nguyen

    (Faculty of Land Management, Vietnam National University of Agriculture, in Hanoi, Vietnam)

  • Van Trung Nguyen

    (Faculty of Geomatics and Land Administration, Hanoi University of Mining and Geology, in Hanoi, Vietnam)

Abstract

The real estate market in areas with many socio-economic activities needs to be strictly managed due to the difference between the market price of urban land and the price of land set by the state. This study identifies and analyzes the influence of some factors on land prices in peri-urban areas to develop land pricing standards consistent with the price level in Nghe An province. The study surveyed 362 land users and 200 samples of successfully transferred properties in the study area. Based on the multivariate regression method, the study builds a residential land price model and calculates the market price of residential land. The authors also established a map of land value areas to help State agencies manage land prices effectively. The research serves as a basis for State agencies to study the formation and development of the real estate market to develop appropriate land price management measures.

Suggested Citation

  • Ha Pham Thi & Tuan Nguyen Tran & Van Quan Nguyen & Van Trung Nguyen, 2022. "Land Price Regression Model and Land Value Region Map to Support Residential Land Price Management: A Study in Nghe an Province, Vietnam," Real Estate Management and Valuation, Sciendo, vol. 30(1), pages 71-83, March.
    • Handle: RePEc:vrs:remava:v:30:y:2022:i:1:p:71-83:n:6
    DOI: 10.2478/remav-2022-0007
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    References listed on IDEAS

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    2. Kolbe, Jens & Schulz, Rainer & Wersing, Martin & Werwatz, Axel, 2019. "Land value appraisal using statistical methods," FORLand Working Papers 07 (2019), Humboldt University Berlin, DFG Research Unit 2569 FORLand "Agricultural Land Markets – Efficiency and Regulation".
    3. Tuan Nguyen Tran, 2021. "The consequences of expropriation of agricultural land and loss of livelihoods on those households who lost land in Da Nang, Vietnam," Environmental & Socio-economic Studies, Sciendo, vol. 9(2), pages 26-38, June.
    4. Mohamed M. Mostafa, 2018. "A spatial econometric analysis of residential land prices in Kuwait," Regional Studies, Regional Science, Taylor & Francis Journals, vol. 5(1), pages 290-311, January.
    5. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
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    More about this item

    Keywords

    land price regression model; market price; map of the value of residential land; Vietnam;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • R39 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other

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