Land Price Regression Model and Land Value Region Map to Support Residential Land Price Management: A Study in Nghe an Province, Vietnam

• Published in: Real estate management and valuation Vol. 30; no. 1; pp. 71 - 83
• Main Authors: Ha, Pham Thi, Tuan, Nguyen Tran, Van Quan, Nguyen, Van Trung, Nguyen
• Format: Journal Article
• Language: English
• Published: Sciendo 01.03.2022
• Subjects: and price regression model; land price regression model; map of the value of residential land; market price; r00; r39; Vietnam
• ISSN: 2300-5289; 2300-5289
• DOI: 10.2478/remav-2022-0007

The real estate market in areas with many socio-economic activities needs to be strictly managed due to the difference between the market price of urban land and the price of land set by the state. This study identifies and analyzes the influence of some factors on land prices in peri-urban areas to develop land pricing standards consistent with the price level in Nghe An province. The study surveyed 362 land users and 200 samples of successfully transferred properties in the study area. Based on the multivariate regression method, the study builds a residential land price model and calculates the market price of residential land. The authors also established a map of land value areas to help State agencies manage land prices effectively. The research serves as a basis for State agencies to study the formation and development of the real estate market to develop appropriate land price management measures.