A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Housing attributes and relative house prices in Ghana
https://orcid.org/0000-0001-9727-6000
https://orcid.org/0000-0001-8675-736X
The study of house prices has become more relevant in recent times after the global financial crisis. Using a housing data set from three regions of Ghana (collated from real estate agents), the purpose of this paper is to estimate the relative importance of housing attributes to house prices.
The hedonic regression analysis conducted indicates that location is the most powerful determinant of house prices. Other relevant factors are the number of bedrooms, the number of floors, the total floor area, land size, age of the house and luxury finishing.
The implications of these results are many. Policy wise, the study provides an evidence-based empirical study that supports the need for better urban planning to improve communities, which in turn is associated with house price appreciations. Homeowners, investors and creditors, particularly mortgage lenders could be the immediate beneficiaries. Drawing on this, improved urban planning could mitigate strategic defaults that results from house prices falling below mortgage loan balances. This is important for financial market stability.
The paper provides a comprehensive and unique understanding of the hedonic determinants of house prices in Ghana. Future studies could examine the effect of location upon mortgage lending in Ghana.
Housing attributes and relative house prices in Ghana
https://orcid.org/0000-0001-9727-6000
https://orcid.org/0000-0001-8675-736X
The study of house prices has become more relevant in recent times after the global financial crisis. Using a housing data set from three regions of Ghana (collated from real estate agents), the purpose of this paper is to estimate the relative importance of housing attributes to house prices.
The hedonic regression analysis conducted indicates that location is the most powerful determinant of house prices. Other relevant factors are the number of bedrooms, the number of floors, the total floor area, land size, age of the house and luxury finishing.
The implications of these results are many. Policy wise, the study provides an evidence-based empirical study that supports the need for better urban planning to improve communities, which in turn is associated with house price appreciations. Homeowners, investors and creditors, particularly mortgage lenders could be the immediate beneficiaries. Drawing on this, improved urban planning could mitigate strategic defaults that results from house prices falling below mortgage loan balances. This is important for financial market stability.
The paper provides a comprehensive and unique understanding of the hedonic determinants of house prices in Ghana. Future studies could examine the effect of location upon mortgage lending in Ghana.
Housing attributes and relative house prices in Ghana
https://orcid.org/0000-0001-9727-6000
https://orcid.org/0000-0001-8675-736X
The study of house prices has become more relevant in recent times after the global financial crisis. Using a housing data set from three regions of Ghana (collated from real estate agents), the purpose of this paper is to estimate the relative importance of housing attributes to house prices.
The hedonic regression analysis conducted indicates that location is the most powerful determinant of house prices. Other relevant factors are the number of bedrooms, the number of floors, the total floor area, land size, age of the house and luxury finishing.
The implications of these results are many. Policy wise, the study provides an evidence-based empirical study that supports the need for better urban planning to improve communities, which in turn is associated with house price appreciations. Homeowners, investors and creditors, particularly mortgage lenders could be the immediate beneficiaries. Drawing on this, improved urban planning could mitigate strategic defaults that results from house prices falling below mortgage loan balances. This is important for financial market stability.
The paper provides a comprehensive and unique understanding of the hedonic determinants of house prices in Ghana. Future studies could examine the effect of location upon mortgage lending in Ghana.
Housing attributes and relative house prices in Ghana
Housing attributes and relative house prices
Owusu-Manu, De-Graft (author) / Edwards, David John (author) / Donkor-Hyiaman, Ken A. (author) / Asiedu, Richard Ohene (author) / Hosseini, M. Reza (author) / Obiri-Yeboah, E. (author)
International Journal of Building Pathology and Adaptation ; 37 ; 733-746
2019-06-06
14 pages
Article (Journal)
Electronic Resource
English
House Types and Housing Uses in Kumasi, Ghana
| British Library Conference Proceedings | 1998
House prices and relative location
| Elsevier | 2019
NTIS | 1964