A spatial analysis on GIS-Hedonic pricing model on the influence of public open space and house price in Klang Valley, Malaysia
Presently, it is noticeable that there is a significant influence of public open space about house price, especially in many developed nations. Literature suggests the relationship between the two aspects give impact on the housing market, however not many studies undertaken in Malaysia. Thus, this...
| Main Authors: | , , |
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| Format: | Conference or Workshop Item |
| Language: | English English English |
| Published: |
International Society for Photogrammetry and Remote Sensing
2016
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/52220/ http://irep.iium.edu.my/52220/ http://irep.iium.edu.my/52220/ http://irep.iium.edu.my/52220/1/isprs-archives-XLI-B8-829-2016.pdf http://irep.iium.edu.my/52220/9/52220_spatial%20analysis_scopus.pdf http://irep.iium.edu.my/52220/14/board%20ISPRS%20zainora%20et%20al..pdf |
| Summary: | Presently, it is noticeable that there is a significant influence of public open space about house price, especially in many developed nations. Literature suggests the relationship between the two aspects give impact on the housing market, however not many studies undertaken in Malaysia. Thus, this research was initiated to analyse the relationship of open space and house price via the techniques of GIS-Hedonic Pricing Model. In this regards, the GIS tool indicates the pattern of the relationship between open space and house price spatially. Meanwhile, Hedonic Pricing Model demonstrates the index of the selected criteria in determining the housing price. This research is a perceptual study of 200 respondents who were the house owners of double-storey terrace houses in four townships, namely Bandar Baru Bangi, Taman Melawati, Subang Jaya and Shah Alam, in Klang Valley. The key research question is whether the relationship between open space and house price exists and the nature of its pattern and intensity. The findings indicate that there is a positive correlation between open space and house price. Correlation analysis reveals that a weak relationship (rs < 0.1) established between the variable of open space and house price (rs = 0.91, N = 200, p = 0.2). Consequently, the rate of house price change is rather small. In overall, this research has achieved its research aims and thus, offers the value added in applying the GIS-Hedonic pricing model in analysing the influence of open space to the house price in the form of spatially and textually |
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