호치민시 아파트 가격 결정 요인분석

Analysis of Price Determinants of Apartments in Ho Chi Minh

The purpose of this study was to analyze the factors influencing the prices of apartments among the residential properties in the Ho Chi Minh area of Vietnam and the factors influencing their sales. This study restricted the scope to the apartment market in the real estate market of the Ho Chi Minh area of Vietnam and analyzed the price determinants of 642 apartment complexes with a hedonic model. The higher publicly notified land prices were, the higher the prices of overall apartments became. Apartment prices dropped when they were increasingly distant from an urban center, had a higher population density,and were older. At urban centers, apartment prices rose when they had a rooftop pool, were in the corridor access type, had a large number of households, and provided big average household area. Apartment prices dropped when the population density was high and publicly notified land prices were high. In new towns, apartment prices were high when they had a rooftop pool, were in the corridor access type, had a large number of households, and provided big average household area and were low when the population density was high along with the publicly notified land prices. Finally, other areas showed overall similar results to the Ho Chi Minh area with particular differences such as the corridor access-type development having negative impacts on the prices and the bigger unit size lowering the unit prices. Therefore, This study will hopefully provide prospective investors in the real estate market of Vietnam with the data about the characteristics and pricing structures of the apartment market in the Ho Chi Minh area so that they can consult them when making a decision on investment plans in future.