International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies


:: International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies

ISSN 2228-9860
eISSN 1906-9642


Vol.12(1) (2021)

  • Hedonic Price Model of Secondhand Condominium Units in Bangkok

    Kongkoon Tochaiwat, Phonthanat Uruhamanon, Patcharida Pultawee (Faculty of Architecture and Planning, Thammasat University, THAILAND ),
    Sittichai Naksuksakul (PTT Public Company (Limited), THAILAND).

    Disciplinary: Architecture and Real Estate Development.

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    doi: 10.14456/ITJEMAST.2021.1

    Keywords: Selling Price Analysis; Hedonic regression; Multiple Regression; Condominium resale; Hedonic Pricing Method; Price determinant.

    In this research, the objective was to explore prices of secondhand condominium units in Bangkok, as well as to generate a hedonic price model. The data from 200 samples of secondhand condominiums posted on six well-known secondhand real estate websites in Thailand were gathered and analyzed by Multiple Regression Analysis. A hedonic price model with a logarithmic form with an adjusted R2 of 72.7 percent was proposed. There are a total of 11 determinants regarding customer satisfaction, in which 6 variables have negative effects while the remaining determinants have positive effects. From the paired sample t-test, the means of the observed selling prices and the predicted selling prices are not significantly different, at a 95 percent confidence level.

    Paper ID: 12A1A

    Cite this article:

    Tochaiwat, K., Uruhamanon, P., Pultawee, P., Naksuksakul, S.(2021). Hedonic Price Model of Secondhand Condominium Units in Bangkok. International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies, 12(1), 12A1A, 1-9.


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