skip to main content
Language:
Search Limited to: Search Limited to: Resource type Show Results with: Show Results with: Search type Index

Housing valuation model: an investigation of residential properties in Tehran

International journal of housing markets and analysis, 2012-03, Vol.5 (1), p.20-40 [Peer Reviewed Journal]

Emerald Group Publishing Limited ;Copyright Emerald Group Publishing Limited 2012 ;ISSN: 1753-8270 ;EISSN: 1753-8289 ;DOI: 10.1108/17538271211206644

Full text available

Citations Cited by
  • Title:
    Housing valuation model: an investigation of residential properties in Tehran
  • Author: Naderi, Iman ; Sharbatoghlie, Ahmad ; Vafaeimehr, Ahmadreza
  • Subjects: Appraisers ; Behavior ; Central business districts ; Consumers ; Housing ; Housing prices ; Hypotheses ; Investigations ; Noise ; Purchasing ; Real estate appraisal ; State court decisions ; Studies ; Tax assessments ; Urban areas ; Valuation ; Variables
  • Is Part Of: International journal of housing markets and analysis, 2012-03, Vol.5 (1), p.20-40
  • Description: Purpose - Lack of a consistent standardized housing pricing system in Iran has led housing valuation to become solely dependent on appraisers' opinions. The purpose of this paper is to investigate some behavioral aspects of real estate decision makers, i.e. buyers and appraisers.Design methodology approach - First, and based on a content analysis of the valuation literature, a preliminary housing valuation model is proposed. This model is then contextualized and tested on two separate samples of 23 appraisers and 145 buyers, using interviewing technique and self-administered questionnaires.Findings - This study shows that buyers and appraisers may have different views about property valuation and that the appraisal process of residential housing in Iran contains substantial inconsistency with respect to buyers' needs. In addition, it was found that financial status is a significant factor affecting buyers' attitude toward housing valuation.Research limitations implications - The findings may shed greater light on understanding behavioral aspects of the valuation process, in general, and the importance of individual differences, in particular, that could be applicable to different markets or different types of properties.Practical implications - The model developed in this study could be used by both appraisers, as a guideline in valuation process, and buyers, as a check-list of attributes they choose to consider in the decision-making process. It could also be used by policy makers, banks and other financial institution providing mortgage loans, and real estate agencies, to name a few.Originality value - The lack of conformity between buyers and appraisers on property valuation may result in buyers paying a higher price for amenities that may not be considered crucial from their perspectives. As a result, this study reveals the necessity of creating an integrated appraisal system based on customer needs. This housing valuation model is the first and most comprehensive framework developed and contextualized for the Tehran housing market. In addition, this study is one of the few studies examining both demand- and supply-sides of the housing market simultaneously.
  • Publisher: Bingley: Emerald Group Publishing Limited
  • Language: English
  • Identifier: ISSN: 1753-8270
    EISSN: 1753-8289
    DOI: 10.1108/17538271211206644
  • Source: ProQuest Central
Back to results list
INSPIRE LIBRARY - TON DUC THANG UNIVERSITY (84-028) 37 755 057 Feedback
19 Nguyen Huu Tho St. Dist.7, HCM thuvien@tdtu.edu.vn

Copyright © 2017 INSPIRE LIBRARY - TON DUC THANG UNIVERSITY

Searching Remote Databases, Please Wait