Application of value chain analysis in evaluation of factors affecting the real estate valuation of tourism apartments (Condotel) in the project implementation period in Viet Nam

Abstract

This study evaluates the factors affecting the value of real estate (real estate) condotels in the project implementation period in Vietnam based on the value chain analysis method. The foundation of the research is based on the value chain of Nick B. Ganaway, (2006) “Value chain for construction investment projects” a suitable value chain for the Condotel real estate project in Vietnam is built. There are 40 influencing factors that have been identified, by reviewing the previous research literature; Specialized real estate reports, and in-depth interviews with experts with many years of experience in the construction-real estate sector in Vietnam, the above 40 factors are considered for qualitative suitability to be ranked in 10 The concept group in the chain was constructed. A survey questionnaire was sent out by mail and sent through social networks to objects with knowledge of Condotel real estate. This yields 202 valid responses for data analysis. The research results have identified 39 factors belonging to 10 groups that affect the value of Condotel real estate in the project implementation period, of which 8 groups are directly affected, including: (A1) Land acquisition; A2) Project development; (A3) Design Activities; (A4) Bidding (selection of contractor); (A6) Marketing and sales; (B1) Sufficiency and location of facilities and equipment; (B2) Effectiveness, efficiency of financial accounting system & general cost control; (B3) The effectiveness and efficiency of the business management system, indirect effects have 2 groups, including: (A5) Construction activities; (B4) Human Resource & Information Management. Through the research results, we can also see that the main activities directly increase the value of condotel real estate, but they are not necessarily more important than supporting activities, the division of factors into activities, The conceptual groups with the general purpose are to find out and evaluate which groups and factors affect the value of the condotel real estate so that there are solutions or improvement of groups or negative factors to further enhancing the value of condotel.