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Factor analysis on hedonic pricing model on open space affecting the housing price in Melaka and Seremban

Asmawi, M. Zainora and Mohit, Mohammad Abdul and Mohd Noor, Norzailawati and Abdullah, Alias and Paiman, Tuminah (2017) Factor analysis on hedonic pricing model on open space affecting the housing price in Melaka and Seremban. In: International Conference on Housing, Planning, Environment and Social Sciences (HOPES2017), 21st Dec. 2017, Bangi, Selangor. (Unpublished)

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Abstract

Open space near residential area often labelled as development constraint since each residential development must provide 10 percent of open space from the total acreage according to Malaysia planning guidelines. Kuala Lumpur has noticeable lost in open space in residential area and this issue might happen with other neighbourhood states such as Negeri Sembilan and Melaka. Therefore, the purpose of this study is to find the resident perspective on the importance of open space while purchasing their housing property. As such, the aim of the research is to study and examine the characteristics of relationship between public open spaces and residential property value using GIS-Hedonic pricing modelling in the selected residential area in Seremban and Melaka. To find the gist of this study, factor analysis has been used to sum the hedonic pricing model output. It resulted, Seremban and Melaka respondents has chosen the Importance of the House attributes in influencing the house price and Importance of open space following factors in influencing the house price. The research examined the relationship between the open space and house price at selected area in Seremban and Ayer Keroh. As found in the literature reviews, it validates that the relationship established in a positive pattern.

Item Type: Conference or Workshop Item (Invited Papers)
Additional Information: 3126/63093
Uncontrolled Keywords: residential and open space, factor analysis, hedonic pricing model
Subjects: H Social Sciences > H Social Sciences (General)
N Fine Arts > NA Architecture > NA100 Architecture and the state
N Fine Arts > NA Architecture > NA4100 Special classes of buildings > NA4170 Public buildings
Kulliyyahs/Centres/Divisions/Institutes: Kulliyyah of Architecture and Environmental Design > Department of Urban & Regional Planning
Depositing User: Dr MZainora Asmawi
Date Deposited: 12 Apr 2018 14:37
Last Modified: 12 Apr 2018 14:37
URI: http://irep.iium.edu.my/id/eprint/63093

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