FACTORS AFFECTING THE PRICES OF SECOND-HAND APARTMENTS IN THE URBAN AREA OF DANG XA, GIA LAM, HANOI

Abstract

Housing is a critically important demand, directly affecting the livelihoods and economic stability of families, particularly in rapidly developing cities like Hanoi, where housing prices fluctuate significantly. However, research on second-hand real estate, especially low-income apartment condominiums, remains limited. This study aims to explore the factors influencing housing prices in the market for second-hand apartments. The study collected 100 data from transferred transactions in the Dang Xa low-income condominium in Gia Lam District, Hanoi, through real estate agents and transfer contracts registered at the Gia Lam Land Registration Office between September 2023 and June 2024. After data processing, the research identified that the total price is influenced by the number of rooms, area of an apartment, level of decoration, and price per square meter, whereas the floor level has no significant impact on price. A multivariate linear regression model indicates that apartments with larger sizes, more rooms, higher prices per square meter, and renovations tend to have higher overall values. These findings can serve as a reference for the Government in formulating policies for the real estate market and forecasting price trends in the future