Determining the land valuation model for peri-urban areas in Central Vietnam

Abstract

The research objective is to build a land valuation model for peri-urban areas in central Vietnam. This was achieved by conducting 200 surveys that examined other factors that influence land prices using a 5-level Likert scale. Then, the Hedonic regression provide novelty in research model was built using SPSS 26.0 software. The research results have given a land pricing model that explains 72.8% of land price fluctuations. This model identifies the main factor causing these fluctuations. These factors include distance to the main road (30.92%), ability to generate cash flow (23.13%), area of the land (16.14%), feng shui (8.14%), location of the land plot (8.00%), width of road attached to the land plot (7.25%), and education level in the area around the land plot (6.44%). This study will illuminate the suitability of the regression model for land valuation in peri-urban regions of Central Vietnam, providing valuable guidance for policymakers, real estate professionals, researchers and the local residents in this field.