Mass appraisal of land value by regression model

Abstract

Land is always an extremely important resource to all countries. In managing this limited natural resource, land valuation for the purpose of determining financial obligation for users of land is a crucial issue for governments. This paper presents a method of land valuation based on a regression model that allows approaching market prices of land in a region or district. The research uses data of a survey of 600 samples in HCMC, comprising 318 street-fronting real properties and 282 ones in alleys. Two regression models are developed to conduct valuation of those two kinds of land (street fronting and alley fronting pieces of land). The research results can be used for managing stocks of land and determining financial obligations of land users in HCMC.