Application of the Hedonic pricing model in real estate valuation in Nairobi County : a study of the Hedonic model

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dc.contributor.authorInganji, Tecla Alumasa
dc.date.accessioned2019-05-09T07:11:30Z
dc.date.available2019-05-09T07:11:30Z
dc.date.issued2018
dc.descriptionA Research project submitted in partial fulfillment of the requirements for the degree of Bachelor of Business Science in Actuarial Science at Strathmore Universityen_US
dc.description.abstractHousing occupies an important position in the Kenyan psyche along with the concept of home ownership. The residential developments and investments attract both institutional, corporate organizations as well as private individuals. There are indications that the residential market in Nairobi is very active and that most of the valuation firms in Nairobi carry out market-based valuation of residential properties. The study is about the relevance of the hedonic pricing model in Nairobi and in particular to assess what kind of pricing methodology is used in the valuation of property in Nairobi County. The study attempted to determine the various attributes that are considered in the pricing models used in the County. The study was carried out in Lavington and Riverside estates, which are up-market residential estates of Nairobi. The research was qualitative and was conducted using information gathered from questionnaires, interviews and secondary material from Institution of Surveyors Kenya. The study found out that the significant factors that determine the value of a residential property are size of plot, location, services, developments, land reference number and the characteristics of the plot. The study as well found out that the most preferred method of valuation used in Nairobi is the Cost approach, however, comparable sales are adopted to justify the final outlook of the value.en_US
dc.identifier.urihttp://hdl.handle.net/11071/6493
dc.language.isoen_USen_US
dc.publisherStrathmore Universityen_US
dc.subjectHedonic pricing modelen_US
dc.subjectHousingen_US
dc.subjectResidential developmenten_US
dc.titleApplication of the Hedonic pricing model in real estate valuation in Nairobi County : a study of the Hedonic modelen_US
dc.typeThesisen_US
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