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A statistical model for valuation of residential property in the Nelson Mandela Metropolitan area

This study applies a process of correlation analysis and hedonic based modelling to investigate the influence of housing attributes and date of sale on transaction prices for residential real estate in the Nelson Mandela Metropole area. Availability of reliable data is a challenge in real estate studies in South Africa. This study integrates several publicly available resources for the purposes of constructing a statistical model. A model is constructed based on a forward variable selection routine using selection criteria. The resulting model shows six highly significant variables that can be used for modelling purposes. The resulting model is used to make comparisons in the value of the geographical location.

Identiferoai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:9347
Date January 2012
CreatorsVan der Byl, Calven
PublisherNelson Mandela Metropolitan University, Faculty of Business and Economic Sciences
Source SetsSouth African National ETD Portal
LanguageEnglish
Detected LanguageEnglish
TypeThesis, Masters, MCom
Formativ, 83 leaves, pdf
RightsNelson Mandela Metropolitan University

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