The Role of Environmental Amenities in Determining Housing Prices, a Hedonic Price Analysis
Author: Atif Naheem Khan

The current study attempts to (non-market valuation) use Hedonic pricing method so as to model the relationship between rental price of a house and housing attributes. This study estimates that a change in certain attribute affects the house rental price. Using hedonic model the relative monetary contribution of each factor is estimated. The mode of identification was through literature search, questionnaires and interviews conducted with selected households in the city Mirpur Azad Kashmir. From these attributes, critical house value influencing variables were chosen for statistical analysis. Sample of 266 houses was used from Mirpur Azad Kashmir. Each sample unit (house) was inspected and properly identified to obtain information on its imputed rental price of property. The structural characteristics for property, neighbourhood characteristics for property and environmental characteristics for property were then used to develop a hedonic model against the dependent variable (rental price).The results shows that a number of variables (like Plot size, age of house, number of floors, number of rooms, attach bath with each room, hospitals, commercial centres, public parks, tree plantation in streets etc.) have significant impact on house rental prices. The study thus enhances objectivity, accuracy and efficiency in Environmental valuations. Supervisor Dr. Iftikhar Ahmad

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Keywords : Determining Housing Prices, Price Analysis, Role of Environmental
Supervisor: Iftikhar Ahmad
Cosupervisor: Javed Iqbal

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