FACTOR ANALYSIS ON HEDONIC PRICING MODEL ON OPEN SPACE AFFECTING THE HOUSING PRICE IN MELAKA AND SEREMBAN

Authors

  • M. Zainora Asmawi Kulliyyah of Architecture and Environmental Design INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA
  • Mohammad Abdul Mohit Kulliyyah of Architecture and Environmental Design INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA
  • Noorzailawati Mohd Noor Kulliyyah of Architecture and Environmental Design INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA
  • Alias Abdullah Kulliyyah of Architecture and Environmental Design INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA
  • Tuminah Paiman Kulliyyah of Architecture and Environmental Design INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA

DOI:

https://doi.org/10.21837/pm.v16i6.467

Keywords:

residential and open space, factor analysis, hedonic pricing model

Abstract

Open spaces near residential area often labelled as development constraint since each residential development must provide 10 percent of open space from the total acreage according to Malaysia planning guidelines. Kuala Lumpur has noticeable lost in open space in residential area and this issue might happen with other neighbourhood states such as Negeri Sembilan and Melaka. Therefore, the purpose of this study is to find the resident perspective on the importance of open space while purchasing their housing property. As such, the aim of the research is to study and examine the characteristics of relationship between public open
spaces and residential property value using GIS-Hedonic pricing modelling in the selected residential area in Seremban and Melaka. To find the gist of this study, factor analysis has been used to sum the hedonic pricing model output. Seremban and Melaka respondents have chosen the Importance of the House attributes in influencing the house price and Importance of open space following factors in influencing the house price. The research examined the relationship between the open space and house price at selected area in Seremban and Ayer Keroh. As found in the literature reviews, it validates that the relationship established in a positive pattern.

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References

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Published

2018-09-12

How to Cite

Asmawi, M. Z., Abdul Mohit, M., Mohd Noor, N., Abdullah, A., & Paiman, T. (2018). FACTOR ANALYSIS ON HEDONIC PRICING MODEL ON OPEN SPACE AFFECTING THE HOUSING PRICE IN MELAKA AND SEREMBAN. PLANNING MALAYSIA, 16(6). https://doi.org/10.21837/pm.v16i6.467

Issue

Vol. 16 (2018): PLANNING MALAYSIA JOURNAL : Volume 16, Issue 2, 2018

Section

Article

License

Copyright & Creative Commons Licence

eISSN: 0128-0945 © Year. The Authors. Published for Malaysia Institute of Planners. This is an open-access article under the CC BY-NC-ND license.

The authors hold the copyright without restrictions and also retain publishing rights without restrictions.

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