A Study on the Area Housing Valuation Model: Empirical Evidence of Tainan City

Hedonic price model explicitly recognizes the complexity and heterogeneity of housing product and the implication of marginal implicit price. Land appraisal plays major role in land development process.

Investment appraisal applied in the income property valuation, cost method applied in public buildings without market information, and owner occupied housing with market data can be used the comparable sales method. The objective of this research is to find the reality of limited data of traditional comparable sales and econometrics based valuation. A linear programming approach involves some redefinition of the problems and incorporate mathematical programming solution with very small samples.