Zenebe, Sisay (2006) The Process and Determinants of Residential House Market in Addis Ababa. Masters thesis, Addis Ababa University.
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Abstract
Housing market is one of mechanisms that transfer ownership rights of a house with a combination of different attributes that is defined by its prices. The process and procedure in housing market is complex both for the sellers or buyers. Market participants lack sufficient information to undertake transactions. The paper tries to examine the process and procedure of the housing market and show how brokers facilitate the market. The price of the house is not determined arbitrarily. The implicit price of housing characteristics concerning the physical and location of Addis Ababa are examined in this paper. The elements of sales comparison of residential house depend on a package of attributes that are valued by the consumers. A model that incorporate for the quality of the house, age, floor area, size of the plot area, number of rooms availability of amenities such as market, elementary school etc. is presented and discussed. Hedonic price model is used to estimate the most important determinant factors. Data is collected from households’ that buy residential houses in Addis Ababa. The result of the study suggested that the price of a house has increased tremendously over a short period of time. Most buyer of a house prefers plot size, older and structurally poor quality houses. The paper tries to demonstrate the behavior of residential house market consumers given the present housing condition of the city. The policy implication of this study is that the implementation of the urban land and housing policy of the city administration should be accompanied by improvement in the residential house market.
| Item Type: | Thesis (Masters) |
|---|---|
| Subjects: | H Social Sciences > HM Sociology H Social Sciences > HV Social pathology. Social and public welfare |
| Divisions: | Africana |
| Depositing User: | Tim Khabala |
| Date Deposited: | 27 Aug 2018 13:04 |
| Last Modified: | 27 Aug 2018 13:04 |
| URI: | http://thesisbank.jhia.ac.ke/id/eprint/8531 |
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