The influence of landscape on housing price: a study on gated and guarded housing schemes

In the world with swift variations in the economic, social, and technological advancement, the homebuyer and the proprietorship of residential housing had been rehabilitated and differentiated from the basic users to a user which factoring many considerations when purchasing the property. Homebuyers...

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Main Author: Lee, Ee Leong Mark
Format: Final Year Project / Dissertation / Thesis
Published: 2024
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Online Access:http://eprints.utar.edu.my/6544/1/UKMZ3036_FYPReport_Lee_Ee_Leong_Mark_(1).pdf
http://eprints.utar.edu.my/6544/
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spelling my-utar-eprints.65442024-07-09T02:42:27Z The influence of landscape on housing price: a study on gated and guarded housing schemes Lee, Ee Leong Mark HD Industries. Land use. Labor T Technology (General) In the world with swift variations in the economic, social, and technological advancement, the homebuyer and the proprietorship of residential housing had been rehabilitated and differentiated from the basic users to a user which factoring many considerations when purchasing the property. Homebuyers are willing to pay more premium for attractive landscapes and views. However, there is a present of research gap where there is no study that factors the characteristics of Gated and Guarded Schemes in Malaysia. As such, this study explores the amenities values contributed by these landscape and scenic view features towards the housing price using the Hedonic Pricing Model. In particular, this study will be emphasized on how landscape attributes is measured and how it contributes to the housing price. The Hedonic Pricing Model are performed using the Multiple Regression Analysis (MRA) based on a detailed fieldwork and study on 1012 landed Gated and Guarded residential properties transacted between 2015 to 2023 in a residential district. Landscape and scenic view attributes are measured from several dimensions such as duration, walking distance and radius to landscape and visibility of scenic view. This paper describes how such dataset modelled and compared. Different models were built to study on the effect of landscape toward the housing price based on different measurement of distance to landscape. The results suggested that there would be implicit prices on the landscape and scenic view can be extracted from housing price based on the different measurement of distance to landscapes and visibility of scenic views being measured. Finally, the results shown that the landscape and scenic views are multi�dimensional in influencing housing price. To illustrate, distance to landscape would possess negative relationship with the housing price, where the visibility of scenic view would possess positive relationship with the housing price. These results indicated the crucial of environment amenities towards the housing price. A good understanding of the impact of these variables is important for the landscape planning decisions and the valuation of Gated and Guarded Community. This study concludes by commenting upon the important of including landscape and scenic views amenities in the Hedonic Pricing Model and considers the main limitation in a wider range of study. Keywords: Hedonic Pricing Model, Landscape, Scenic Views, Multiple Regression Analysis 2024 Final Year Project / Dissertation / Thesis NonPeerReviewed application/pdf http://eprints.utar.edu.my/6544/1/UKMZ3036_FYPReport_Lee_Ee_Leong_Mark_(1).pdf Lee, Ee Leong Mark (2024) The influence of landscape on housing price: a study on gated and guarded housing schemes. Final Year Project, UTAR. http://eprints.utar.edu.my/6544/
institution Universiti Tunku Abdul Rahman
building UTAR Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Tunku Abdul Rahman
content_source UTAR Institutional Repository
url_provider http://eprints.utar.edu.my
topic HD Industries. Land use. Labor
T Technology (General)
spellingShingle HD Industries. Land use. Labor
T Technology (General)
Lee, Ee Leong Mark
The influence of landscape on housing price: a study on gated and guarded housing schemes
description In the world with swift variations in the economic, social, and technological advancement, the homebuyer and the proprietorship of residential housing had been rehabilitated and differentiated from the basic users to a user which factoring many considerations when purchasing the property. Homebuyers are willing to pay more premium for attractive landscapes and views. However, there is a present of research gap where there is no study that factors the characteristics of Gated and Guarded Schemes in Malaysia. As such, this study explores the amenities values contributed by these landscape and scenic view features towards the housing price using the Hedonic Pricing Model. In particular, this study will be emphasized on how landscape attributes is measured and how it contributes to the housing price. The Hedonic Pricing Model are performed using the Multiple Regression Analysis (MRA) based on a detailed fieldwork and study on 1012 landed Gated and Guarded residential properties transacted between 2015 to 2023 in a residential district. Landscape and scenic view attributes are measured from several dimensions such as duration, walking distance and radius to landscape and visibility of scenic view. This paper describes how such dataset modelled and compared. Different models were built to study on the effect of landscape toward the housing price based on different measurement of distance to landscape. The results suggested that there would be implicit prices on the landscape and scenic view can be extracted from housing price based on the different measurement of distance to landscapes and visibility of scenic views being measured. Finally, the results shown that the landscape and scenic views are multi�dimensional in influencing housing price. To illustrate, distance to landscape would possess negative relationship with the housing price, where the visibility of scenic view would possess positive relationship with the housing price. These results indicated the crucial of environment amenities towards the housing price. A good understanding of the impact of these variables is important for the landscape planning decisions and the valuation of Gated and Guarded Community. This study concludes by commenting upon the important of including landscape and scenic views amenities in the Hedonic Pricing Model and considers the main limitation in a wider range of study. Keywords: Hedonic Pricing Model, Landscape, Scenic Views, Multiple Regression Analysis
format Final Year Project / Dissertation / Thesis
author Lee, Ee Leong Mark
author_facet Lee, Ee Leong Mark
author_sort Lee, Ee Leong Mark
title The influence of landscape on housing price: a study on gated and guarded housing schemes
title_short The influence of landscape on housing price: a study on gated and guarded housing schemes
title_full The influence of landscape on housing price: a study on gated and guarded housing schemes
title_fullStr The influence of landscape on housing price: a study on gated and guarded housing schemes
title_full_unstemmed The influence of landscape on housing price: a study on gated and guarded housing schemes
title_sort influence of landscape on housing price: a study on gated and guarded housing schemes
publishDate 2024
url http://eprints.utar.edu.my/6544/1/UKMZ3036_FYPReport_Lee_Ee_Leong_Mark_(1).pdf
http://eprints.utar.edu.my/6544/
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score 13.209306