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The Impact of Factors on Residential Land Prices: A Case Study in Tu Son City, Vietnam

Author

Listed:
  • Nam Pham Phuong

    (Faculty of Resources and Environment, Vietnam National University of Agriculture (VNUA), ViệnSinhhọcNôngnghiệp, Đường Y, Gia Lâm, HàNội, Vietnam)

  • Hue Nguyen Thi

    (Faculty of Land Administration, Hanoi University of Natural Resources and Environment (HUNRE), 41A Đ. PhúDiễn, PhúDiễn, BắcTừLiêm, HàNội, Vietnam)

  • Huyen Phan Thi Thanh

    (Faculty of Resources and Environment, Vietnam National University of Agriculture (VNUA), ViệnSinhhọcNôngnghiệp, Đường Y, Gia Lâm, HàNội, Vietnam)

Abstract

The study aims to determine the influencing factors and their impact levels on residential land prices. The research investigated 241 officials, real estate investors, appraisers, and real estate brokers on factors affecting residential land prices. Research results have shown 13 groups with 45 factors affecting the price of residential land. The impact rates of the factor groups range from 1.43% to 23.65%. The COVID-19 pandemic factor group has the strongest impact on land prices, followed by other factor groups, including upgrading administrative units; formulation and implementation of the planning; the real estate market; financial – economics; credit; real estate brokerage; infrastructure; location of the land parcel; particular factors; juridical factors; environment and social security. To harmonize the interests of the State, investors, and land users when valuing land, it is necessary to pay attention to the factors that strongly impact land prices first, and then the smaller ones.

Suggested Citation

  • Nam Pham Phuong & Hue Nguyen Thi & Huyen Phan Thi Thanh, 2023. "The Impact of Factors on Residential Land Prices: A Case Study in Tu Son City, Vietnam," Real Estate Management and Valuation, Sciendo, vol. 31(2), pages 66-81, June.
    • Handle: RePEc:vrs:remava:v:31:y:2023:i:2:p:66-81:n:4
    DOI: 10.2478/remav-2023-0014
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    Keywords

    affecting factors; residential land prices; Tu Son city; Vietnam;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • F61 - International Economics - - Economic Impacts of Globalization - - - Microeconomic Impacts

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