Application of Hedonic Model to Determine Residential Land Valuation in Suburban Areas: The Case of Hue City, Vietnam

Abidoye, R. B., & Chan, A. P. C. (2017). Modelling property values in Nigeria using artificial neural network. Journal of Property Research, 34(1), 36–53. https://doi.org/10.1080/09599916.2017.1286366 Search in Google Scholar

Bencure, J. C., Tripathi, N. K., Miyazaki, H., Ninsawat, S., & Kim, S. M. (2019). Development of an Innovative Land Valuation Model (iLVM) for Mass Appraisal Application in Sub-Urban Areas Using AHP: An Integration of Theoretical and Practical Approaches. Sustainability (Basel), 11(13), 3731. https://www.mdpi.com/2071-1050/11/13/3731 https://doi.org/10.3390/su11133731 Search in Google Scholar

Bencure, J. C., Tripathi, N. K., Miyazaki, H., Ninsawat, S., & Kim, S. M. (2022). Factors affecting decision-making in land valuation process using AHP: A case in the Philippines. International Journal of Housing Markets and Analysis, 15(1), 188–202. https://doi.org/10.1108/IJHMA-11-2020-0136 Search in Google Scholar

Bovkir, R., & Aydinoglu, A. C. (2018). Providing land value information from geographic data infrastructure by using fuzzy logic analysis approach. Land Use Policy, 78, 46–60. https://doi.org/https://doi.org/10.1016/j.landusepol.2018.06.040 https://doi.org/10.1016/j.landusepol.2018.06.040 Search in Google Scholar

Branch, H. C. L. R. O. (2022). Statistical report on the transfer of land use rights. Search in Google Scholar

Chen, M. L., He, S. J., Cui, J. F., Zhang, X. G., Liu, P. R., & Hao, R. (2016). Spatial analysis of residential land price in urban area of Jimo city based on GIS. International Conference on Architectural, Civil and Hydraulics Engineering (ICACHE 2016), Committee., H. C. P. s. (2022). Hue city socio-economic report in 2022. https://doi.org/10.2991/icache-16.2016.22 Search in Google Scholar

Demetriou, D. (2016). The assessment of land valuation in land consolidation schemes: The need for a new land valuation framework. Land Use Policy, 54, 487–498. https://doi.org/https://doi.org/10.1016/j.landusepol.2016.03.008 https://doi.org/10.1016/j.landusepol.2016.03.008 Search in Google Scholar

Dinh, T. D., & Pham, V. M. (2021). Studying urban expansion and landscape surrounding monuments for conservation the world cultural heritage in Hue city - View from GIS and remote sensing. AUC 2019, Singapore. Search in Google Scholar

Doan, Q. C. (2023). Determining the optimal land valuation model: A case study of Hanoi, Vietnam. Land Use Policy, 127, 106578. https://doi.org/10.1016/j.landusepol.2023.106578 Search in Google Scholar

Gilbert, & Stanley W. (2013). Applying the hedonic method. US Department of Commerce, National Institute of Standards and Technology. Search in Google Scholar

Glumac, B., Herrera-Gomez, M., & Licheron, J. (2019). A hedonic urban land price index. Land Use Policy, 81, 802–812. https://doi.org/https://doi.org/10.1016/j.landusepol.2018.11.032 https://doi.org/10.1016/j.landusepol.2018.11.032 Search in Google Scholar

Goodman, A. C. (1998). Andrew court and the invention of hedonic price analysis. Journal of Urban Economics, 44(2), 291–298. https://doi.org/https://doi.org/10.1006/juec.1997.2071 https://doi.org/10.1006/juec.1997.2071 Search in Google Scholar

Green, S. B. (1991). How many subjects does it take to do a regression analysis. Multivariate Behavioral Research, 26(3), 499–510. https://doi.org/10.1207/s15327906mbr2603_7 PMID:26776715 Search in Google Scholar

Ha, P. T., Tuan, N. T., Van Quan, N., & Van Trung, N. (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, 30(1), 71–83. https://doi.org/doi:10.2478/remav-2022-0007 https://doi.org/10.2478/remav-2022-0007 Search in Google Scholar

Ha, P., Tuan, N., Van Quan, N. & Van Trung, N. (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, 30(1) 71-83. https://doi.org/10.2478/remav-2022-0007 Search in Google Scholar

Herath, S., & Maier, G. (2010). The hedonic price method in real estate and housing market research. A review of the literature. Institute for Spatial and Real Estate Economics Vienna University of Economics and Business Austria 1-21. Search in Google Scholar

Hien, V. T. T. (2019). Research on land prices and some factors affecting land prices in Bach Mai ward, Hai Ba Trung district, Hanoi city. National Economics University. https://dlib.neu.edu.vn/handle/NEU/38613 Search in Google Scholar

Ho, T. L. T., Nguyen, V. Q., Pham, A. T., & Trinh, T. M. (2020). Research on residential land prices and factors affecting residential land prices in Chi Linh city, Hai Duong province. Vietnam Journal of Agricultural Science, 18(1), 40–51. Search in Google Scholar

Hui, Z. (2010). Affecting factors research of Beijing residential land price based on GWR model. Economic Geography. Search in Google Scholar

Jang, I.-S. (2016). The impact of plan characteristics of residential land development project on inner land price change. Journal of the Korea Academia-Industrial Cooperation Society, 17(8), 698–705. https://doi.org/https://doi.org/10.5762/KAIS.2016.17.8.698 https://doi.org/10.5762/KAIS.2016.17.8.698 Search in Google Scholar

Lee, J., & Lee, S. H. (2023). Effect of the Combination of Area and Shape Characteristics of Land on Land Price. Journal of Real Estate Analysis, 9(1), 43–63. https://doi.org/10.30902/jrea.2023.9.1.43 Search in Google Scholar

Li, L., Prussella, P. G. R. N. I., Gunathilake, M., Munasinghe, D. S., & Karadana, C. (2015). Land valuation systems using GIS technology case of Matara urban council area. https://doi.org/10.4038/bhumi.v4i2.6 Search in Google Scholar

Lin, T.-C., & Evans, A. (2000). The relationship between the price of land and size of plot when plots are small. Land Economics, 76, 386–394. https://doi.org/10.2307/3147036 Search in Google Scholar

Ma, J., Cheng, J. C. P., Jiang, F., Chen, W., & Zhang, J. (2020). Analyzing driving factors of land values in urban scale based on big data and non-linear machine learning techniques. Land Use Policy, 94, 104537. https://doi.org/https://doi.org/10.1016/j.landusepol.2020.104537 https://doi.org/10.1016/j.landusepol.2020.104537 Search in Google Scholar

Mansfield, E.R. & Helms, B.P. (1982). Detecting multicollinearity. The American Statistician, 36, 158-160. https://doi.org/10.1080/00031305.1982.10482818 Search in Google Scholar

Nelson, A., Lillydahl, J., Frank, J., & Nicholas, J. (1991). Price effects of road and other impact fees on urban land. Transportation Research Record: Journal of the Transportation Research Board, 1305. Search in Google Scholar

Ngoc, B. T. C. (2021). Determining factors affecting urban land prices in Dich Vong ward, Cau Giay district, Hanoi city. Conference proceedings, 83-90. Search in Google Scholar

Nguyen The Huan, V. T. T. T., Tran Quoc Long. (2021). Research on some factors affecting residential land prices in Dien Bien Phu city in the period 2017-2019. TNU Journal of Science and Technology, 226(18), 203-210. https://doi.org/10.34238/tnujst.5291 Search in Google Scholar

Nguyen, T. H. T., Tran, V. T., Bui, Q. T., Man, Q. H., & Walter, T. V. (2016). Socio-economic effects of agricultural land conversion for urban development: Case study of Hanoi, Vietnam. Land Use Policy, 54, 583–592. https://doi.org/https://doi.org/10.1016/j.landusepol.2016.02.032 https://doi.org/10.1016/j.landusepol.2016.02.032 Search in Google Scholar

O’Sullivan, D. (2003). Geographically weighted regression: The analysis of spatially varying relationships. Geographical Analysis, 35(3), 272–275. https://doi.org/10.1353/geo.2003.0008 Search in Google Scholar

Pham The Trinh, N. B. L., Pham Quy Giang, & Pham Thi Thanh Mung. (2020). Some factors affecting residential land prices in Ung Hoa district, Hanoi city. Journal of economics and policy, 1, 162-170. Search in Google Scholar

Renigier-Biłozor, M., Janowski, A., & d’Amato, M. (2019). Automated Valuation Model based on fuzzy and rough set theory for real estate market with insufficient source data. Land Use Policy, 87, 104021. https://doi.org/https://doi.org/10.1016/j.landusepol.2019.104021 https://doi.org/10.1016/j.landusepol.2019.104021 Search in Google Scholar

Ritter, M., Hüttel, S., Odening, M., & Seifert, S. (2019). Revisiting the relationship between land price and parcel size. Agricultural Land Markets - Efficiency and Regulation. https://doi.org/doi:10.18452/19877 Search in Google Scholar

Rosen, S. (1974). Hedonic prices and implicit markets: Product differentiation in pure competition. Journal of Political Economy, 82(1), 34–55. https://doi.org/10.1086/260169 Search in Google Scholar

Savin, N. E., & White, K. (1977). The Durbin-Watson test for serial correlation with extreme sample sizes or many regressors. Journal of the Econometric Society, 1989-1996. Search in Google Scholar

Shita, M. W., Tefera, T. A., & Gebru, M. A. (2022). Determinants of urban land lease price using artificial neural network and hedonic regression model: Case of Addis Ababa, Ethiopia. Journal of Urban Planning and Development, 148(3), 04022031. https://doi.org/10.1061/(ASCE)UP.1943-5444.0000859 Search in Google Scholar

Thao, L. T. T. (2018). Assessing the compatibility between land prices according to State regulations and market land prices in Trung Phung ward, Dong Da district, Hanoi city with the support of ArcGIS software. Ha Noi national university. http://repository.vnu.edu.vn/handle/VNU_123/69676 Search in Google Scholar

Thảo, P. T., & Hiền, P. T. (2021). Determination of factors affecting land price in Can Tho city. CTU Journal of Science, 57(1), 8-15. https://doi.org/10.22144/ctu.jvn.2021.002 Search in Google Scholar

Thuy, N. T. P. (2017). Analysis of factors affecting urban land prices - case study in District 9. Ho Chi Minh City University of Economics, http://digital.lib.ueh.edu.vn/handle/UEH/56433 Search in Google Scholar

Tran Trong Phuong, N. T. T. H., Phan Van Khue, Nguyen Duc Loc, Nguyen Dinh Trung, Ngo Anh Son. (2022). Studying factors affecting land prices in Tu Son city, Bac Ninh province. VNU Journal of Science: Earth and Environmental Sciences, 06(139). Search in Google Scholar

Wang, W.-C., Chang, Y.-J., & Wang, H.-C. (2019). An application of the spatial autocorrelation method on the change of real estate prices in Taitung City. ISPRS International Journal of Geo- Information, 8(6), 249. https://doi.org/10.3390/ijgi8060249 Search in Google Scholar

Yu-hon, S. (2014). Influencing factors of residential land price in Wuhan based on GWR model. Journal of Huazhong Agricultural University. Search in Google Scholar

Zabel, J. (2022). A matching method for land valuation. Journal of Housing Economics, 58, 101878. https://doi.org/https://doi.org/10.1016/j.jhe.2022.101878 https://doi.org/10.1016/j.jhe.2022.101878 Search in Google Scholar