Factors affecting housing prices in metropolitan regions: The case of Tehran, 2021
Factors affecting housing prices in metropolitan regions: The case of Tehran, 2021

Summary/Abstract: This study aims to investigate the spatial distribution of housing prices and identify the factors (independent variable) affecting the cost of residential units (dependent variable). The method of the present study is descriptive-analytical and has an applied purpose. The statistical population used in this study is the residential unit prices in Tehran in 2021. For this purpose, the average per square meter of residential units in the city neighborhoods was entered in the Geographical Information System (GIS). Two techniques of ordinary least squares regression (OLS) and geographically weighted regression (GWR) were used to analyze housing prices and modeling. Then, the results of OLS and GWR models were compared using the housing price interpolation map predicted in each model and the accurate housing price interpolation map. Based on the results, the least-squares regression model poorly modeled housing prices in the study area. The results of the weight regression model show that the variables (access rate to sports fields, distance from gas station and water station) have a direct and significant effect. Nevertheless, the variable (distance from fault) has a nonsignificant impact on increasing housing prices at the city level. In addition, to identify the variables affecting housing prices, the results confirm the desirability of the GWR technique in terms of accuracy compared to the OLS technique in explaining housing prices. The results of this study indicate that the housing prices in Tehran are affected by the access level to urban services and facilities.

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