Fasakin, J O and Ogunsemi, D R (2003) Modelling the selling prices of residential buildings in Nigeria. Journal of Financial Management of Property and Construction, 8(2), pp. 111-114. ISSN 1366-4387
Abstract
This paper establishes a relationship between the cost of selected building materials and selling price of different categories of houses sold by selected housing corporations in Nigeria. The cost of significant building materials and the selling price of houses constructed by three housing corporations within a twenty-one year period (1980-2000) were obtained. The data were analysed using semi-log multiple regression models for predicting the selling price of different categories of houses. Results show that they have high predictive abilities with coefficients of determination of 0.98, 0.98 and 0.92 for 3-Bedroom flats, 3-Bedroom bungalows and 4-Bedroom duplexes respectively. The models were recommended for both individuals and government agencies for assessing affordable housing cost.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | housing, housing corporation, construction materials, multiple regression |
| Index terms: | modelling, residential building, multiple regression model, affordable housing, construction material, Nigeria, building material, government agency, multiple-regression, housing, bedroom |
| Subjects: | Geography, building materials, construction type, analytical methods, statistical analysis, administrative law, architectural elements |
| Topics: | Design Practice, Engineering Principles, Construction Technology, Research Practice, Geographical Context, Legal Issues |
| Descriptive scope: | 3 PCA |
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