ASSESSMENT OF FACTORS AFFECTING REAL ESTATE PRICE IN HUE CITY, THUA THIEN HUE PROVINCE

Abstract

This study focuses on determining the impact of factors on property prices in Hue city, Thua Thien Hue province. The study used quantitative and qualitative analysis in SPSS to statistically characterize the investigated subjects; using Likert scale with five levels and regression method to evaluate the influences of relevant factors on real estate; surveying 115 samples in 03 wards of An Tay, An Cuu and An Dong of Hue city. The results showed that, 6 factors affecting real estate prices were identified, including: (i) Location, (ii) Topographic and shape, (iii) Legal, (iv) Social factors, (v) Infrastructure and (vi) Environment. The impact level of 6 factors on real estate prices are: Environment (0.416), Terrain (0.408), Location (0.225), Infrastructure (0.197), Legal (0.195) and Social factors (0.120). For factors affecting real estate prices, depending on the type of street that the factors affecting real estate prices have different roles. For streets with good business potential, the important factor is that the location of the land plot provides high profitability and stability leading to high buyer demand, followed by parcel shape factors, infrastructure conditions, living environment. The main purpose of a street to build houses is the natural environment, social factors, infrastructure, followed by shape and area. Among the 3 surveyed wards, An Cuu ward had the highest real estate price; followed by An Dong and An Tay wards.