The economic value of sidewalk space in Ho Chi Minh City

• Main Author: Nguyễn Thị Hồng Thu
• Format: Article
• Language: Vietnamese
• Published: TẠP CHÍ KHOA HỌC ĐẠI HỌC MỞ THÀNH PHỐ HỒ CHÍ MINH 2020-05-01
• Series: Tạp chí Khoa học Đại học Mở Thành phố Hồ Chí Minh - Kinh tế và Quản trị kinh doanh
• Subjects: mô hình định giá hedonic; nhà ở riêng lẻ; vỉa hè
• Online Access: https://journalofscience.ou.edu.vn/index.php/econ-vi/article/view/255

In Vietnam sidewalk space has some salient points compared to other countries because there are many business activities on sidewalk space in front of a house. However, nowadays there are no peer-review studies that estimate the direct effect of sidewalk space on a single-family house value in some countries in the world. This study uses the hedonic pricing model to examine the impact of sidewalk space on single-family house prices. The author uses primary data of 283 Ho Chi Minh City single-family houses including selling prices, surveys of current housing conditions, features of sidewalks and surrounding amenities. The result shows that sidewalk space has significant statistics and positive effects on single-family house prices in Ho Chi Minh City. Specifically, if a sidewalk space increases by one meter, a house price increases by approximately 4 percent. This result provides a suggestion for urban planners to consider the implementation of urban development strategies and improve sidewalk conditions.