The Impact of Transportation and Walkability on Residential Property Value

Authors

  • Afiruddin Tapa School of Finance and Banking, Universiti Utara Malaysia
  • Nurul Wazien Mohd Noor Universiti Utara Malaysia Kuala Lumpur, Universiti Utara Malaysia

DOI:

https://doi.org/10.52962/ipjaf.2021.5.3.130

Keywords:

Transportation, walkability, Residential Property Value

Abstract

In order to determine the impact of transportation and walkability as one of the important smart growth principles in creating economic value, this study examines the impact of transportation and walkability on Residential Property Value in Shah Alam, Selangor, Malaysia neighborhoods. Based on secondary data collected on Brickz.com, a hedonic regression model was constructed to estimate median Residential Property Value in Shah Alam, Selangor for the Residential Property Value assessment. The model's findings demonstrate that transportation and walkability factors have less impact on estimated Residential Property Value than other residential structure characteristics such as number of floors, number of bedrooms, and land area. Only three variables from the Structure Characteristic were statistically significant in this study: Structure Characteristic no of the floor, Structure Characteristic No of the Bedroom and Structure Characteristic Land Area. Consequently, all transportation and walkability are insignificant towards residential house prices. This shows that there are still ways to increase house prices through attractive house structure planning. With this, the formation of an attractive house structure in development planning is an important aspect in increasing the demand for house prices while rising house prices efficiently. The adoption of the appropriate use of public transport uses the principle of good growth to achieve added value and improve the overall quality of life in the neighborhood.

Published

2021-01-07

How to Cite

Tapa, A., & Mohd Noor, N. W. (2021). The Impact of Transportation and Walkability on Residential Property Value. Indian-Pacific Journal of Accounting and Finance, 5(3), 3–17. https://doi.org/10.52962/ipjaf.2021.5.3.130

Issue

Section

Main Section