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eISSN: 2581-9615 || CODEN: WJARAI || Impact Factor 8.2 ||  CrossRef DOI

Research and review articles are invited for publication in March 2026 (Volume 29, Issue 3) Submit manuscript

Application of the hedonic pricing model to real estate valuation in Hanoi, Vietnam

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  • Application of the hedonic pricing model to real estate valuation in Hanoi, Vietnam

Hoan Duong Thi *

School of Economics, Hanoi University of Industry, 298 Cau Dien, Bac Tu Liem, Hanoi, Vietnam.
 
Review Article
World Journal of Advanced Research and Reviews, 2024, 24(02), 1908-1915
Article DOI: 10.30574/wjarr.2024.24.2.3458
DOI url: https://doi.org/10.30574/wjarr.2024.24.2.3458
 
Received on 04 October 2024; revised on 15 November 2024; accepted on 18 November 2024
 
The value of real estate is determined by the relationship between supply and demand in the market, location, and the physical structure of the land and surrounding area. During the development of infrastructure in the capital area of Hanoi, Vietnam, changes have occurred that directly impact housing prices. This study applies the Hedonic pricing model and asking prices to predict the market value of real estate and establish the correlation between the factors affecting land prices in Hanoi in 2023 and 2024. The results show that six main factors influence real estate prices: area, number of bedrooms, proximity to the city center, type, amenities, and structure. Among these, proximity to the city center has a negative impact, while the remaining factors have a positive impact on housing prices in this area. Based on these results, participants in the real estate market can make accurate predictions about housing prices, and market regulators can gain a comprehensive view of this market, particularly the factors influencing housing prices.
 
Real estate; Hedonic pricing model; Hanoi capital; Real estate market
 
https://wjarr.com/sites/default/files/fulltext_pdf/WJARR-2024-3458.pdf

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Hoan Duong Thi. Application of the hedonic pricing model to real estate valuation in Hanoi, Vietnam. World Journal of Advanced Research and Reviews, 2024, 24(2), 1908-1915. Article DOI: https://doi.org/10.30574/wjarr.2024.24.2.3458

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