House price estimation using hedonic approach for mass appraisal model in Minna, Nigeria

The purpose of this research is to develop a mass appraisal model for house price estimation using hedonic price modelling approach for Minna, Nigeria. Three basic micro determinants of house price were considered namely structural, locational and neighborhood attributes. Using a sample of 91 transa...

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Main Author:	Liman, Hassan Shuaibu
Format:	Thesis
Language:	English
Published:	2014
Subjects:	HD1394-1394.5 Real estate management
Online Access:	http://eprints.utm.my/id/eprint/48032/25/HassanShuaibuLimanMFGHT2014.pdf
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id	my-utm-ep.48032
record_format	uketd_dc
spelling	my-utm-ep.480322017-08-03T06:55:21Z House price estimation using hedonic approach for mass appraisal model in Minna, Nigeria 2014-06 Liman, Hassan Shuaibu HD1394-1394.5 Real estate management The purpose of this research is to develop a mass appraisal model for house price estimation using hedonic price modelling approach for Minna, Nigeria. Three basic micro determinants of house price were considered namely structural, locational and neighborhood attributes. Using a sample of 91 transaction data recorded between 2009 to 2013, the hedonic based multiple regression analysis (MRA) was used to determine the variables that have statistically significant influence on price of a house. It was established that all the variables included in the MRA were significant except the number of rooms. The significant variables were the type of house, the size, number of bathrooms, location, age, year of transaction, condition of the house, its distance to the central business district (CBD) and the neighborhood facilities available. Using these significant attributes, a mass appraisal model for residential property taxation was developed for the study area. The performance of the model was evaluated using the ratio study technique and the model was found to be adequate. It was recommended that this model be used in mass appraisal of residential properties in Minna in the future, with a view to improve accuracy, efficiency and fairness of the real property tax system, which will lead to generating more revenue for the government which will foster physical infrastructural development in Minna. 2014-06 Thesis http://eprints.utm.my/id/eprint/48032/ http://eprints.utm.my/id/eprint/48032/25/HassanShuaibuLimanMFGHT2014.pdf application/pdf en public masters Universiti Teknologi Malaysia, Faculty of Geoinformation and Real Estate Faculty of Geoinformation and Real Estate
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	HD1394-1394.5 Real estate management
spellingShingle	HD1394-1394.5 Real estate management Liman, Hassan Shuaibu House price estimation using hedonic approach for mass appraisal model in Minna, Nigeria
description	The purpose of this research is to develop a mass appraisal model for house price estimation using hedonic price modelling approach for Minna, Nigeria. Three basic micro determinants of house price were considered namely structural, locational and neighborhood attributes. Using a sample of 91 transaction data recorded between 2009 to 2013, the hedonic based multiple regression analysis (MRA) was used to determine the variables that have statistically significant influence on price of a house. It was established that all the variables included in the MRA were significant except the number of rooms. The significant variables were the type of house, the size, number of bathrooms, location, age, year of transaction, condition of the house, its distance to the central business district (CBD) and the neighborhood facilities available. Using these significant attributes, a mass appraisal model for residential property taxation was developed for the study area. The performance of the model was evaluated using the ratio study technique and the model was found to be adequate. It was recommended that this model be used in mass appraisal of residential properties in Minna in the future, with a view to improve accuracy, efficiency and fairness of the real property tax system, which will lead to generating more revenue for the government which will foster physical infrastructural development in Minna.
format	Thesis
qualification_level	Master's degree
author	Liman, Hassan Shuaibu
author_facet	Liman, Hassan Shuaibu
author_sort	Liman, Hassan Shuaibu
title	House price estimation using hedonic approach for mass appraisal model in Minna, Nigeria
title_short	House price estimation using hedonic approach for mass appraisal model in Minna, Nigeria
title_full	House price estimation using hedonic approach for mass appraisal model in Minna, Nigeria
title_fullStr	House price estimation using hedonic approach for mass appraisal model in Minna, Nigeria
title_full_unstemmed	House price estimation using hedonic approach for mass appraisal model in Minna, Nigeria
title_sort	house price estimation using hedonic approach for mass appraisal model in minna, nigeria
granting_institution	Universiti Teknologi Malaysia, Faculty of Geoinformation and Real Estate
granting_department	Faculty of Geoinformation and Real Estate
publishDate	2014
url	http://eprints.utm.my/id/eprint/48032/25/HassanShuaibuLimanMFGHT2014.pdf
_version_	1747817291202953216

House price estimation using hedonic approach for mass appraisal model in Minna, Nigeria

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