Testing for the existence of housing sub-markets in Penang, Malaysia
This study attempts to demonstrate that residential sub-markets do exist in any geographic area by takingresidential properties in Penang, Malaysia, as a case. The hedonic model was used to identify the existence ofsub-markets in the study area. The model involved a clean sample of 120 house prices...
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Faculty of Geoinformation Science and Engineering, University Teknologi Malaysia
2009
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my.utm.219402017-10-20T02:54:13Z http://eprints.utm.my/id/eprint/21940/ Testing for the existence of housing sub-markets in Penang, Malaysia Navaneethan, Renuga Ismail, Suriatini Mar Iman, Abd. Hamid G Geography (General) This study attempts to demonstrate that residential sub-markets do exist in any geographic area by takingresidential properties in Penang, Malaysia, as a case. The hedonic model was used to identify the existence ofsub-markets in the study area. The model involved a clean sample of 120 house prices in 2006 and eightindependent structural and locational variables. Six major areas in Penang were used to represent a priori spatialsub-markets in the house price model. The results showed that the sub-market variables appeared to bestatistically insignificant in the hedonic model. However, results from paired-sample t-test and Chow Testshowed that sub-markets did exist in Penang. This study concluded that it is insufficient to rely only on aregression model to test for sub-market existence. Instead, some appropriate diagnostic tests must be applied tothe sample Faculty of Geoinformation Science and Engineering, University Teknologi Malaysia 2009-05 Article PeerReviewed application/pdf en http://eprints.utm.my/id/eprint/21940/1/SuriatiniIsmail2009_TestingfortheExistenceofHousing.pdf Navaneethan, Renuga and Ismail, Suriatini and Mar Iman, Abd. Hamid (2009) Testing for the existence of housing sub-markets in Penang, Malaysia. Malaysian Journal of Real Estate, 4 (1). pp. 52-70. ISSN 1823-8505 |
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G Geography (General) Navaneethan, Renuga Ismail, Suriatini Mar Iman, Abd. Hamid Testing for the existence of housing sub-markets in Penang, Malaysia |
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This study attempts to demonstrate that residential sub-markets do exist in any geographic area by takingresidential properties in Penang, Malaysia, as a case. The hedonic model was used to identify the existence ofsub-markets in the study area. The model involved a clean sample of 120 house prices in 2006 and eightindependent structural and locational variables. Six major areas in Penang were used to represent a priori spatialsub-markets in the house price model. The results showed that the sub-market variables appeared to bestatistically insignificant in the hedonic model. However, results from paired-sample t-test and Chow Testshowed that sub-markets did exist in Penang. This study concluded that it is insufficient to rely only on aregression model to test for sub-market existence. Instead, some appropriate diagnostic tests must be applied tothe sample |
format |
Article |
author |
Navaneethan, Renuga Ismail, Suriatini Mar Iman, Abd. Hamid |
author_facet |
Navaneethan, Renuga Ismail, Suriatini Mar Iman, Abd. Hamid |
author_sort |
Navaneethan, Renuga |
title |
Testing for the existence of housing sub-markets in Penang, Malaysia |
title_short |
Testing for the existence of housing sub-markets in Penang, Malaysia |
title_full |
Testing for the existence of housing sub-markets in Penang, Malaysia |
title_fullStr |
Testing for the existence of housing sub-markets in Penang, Malaysia |
title_full_unstemmed |
Testing for the existence of housing sub-markets in Penang, Malaysia |
title_sort |
testing for the existence of housing sub-markets in penang, malaysia |
publisher |
Faculty of Geoinformation Science and Engineering, University Teknologi Malaysia |
publishDate |
2009 |
url |
http://eprints.utm.my/id/eprint/21940/1/SuriatiniIsmail2009_TestingfortheExistenceofHousing.pdf http://eprints.utm.my/id/eprint/21940/ |
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