Housing preferences of residents in Stellenbosch, South Africa. --- An application of the Hedonic Price Model

[摘要] The issue of housing choice and preferences has been and still is the subject of much academicattention from researchers in many different disciplines. Stellenbosch, the oldest town in SouthAfrica second to Cape Town, is undoubtedly the most scenic and historically well-preserved townin Southern Africa. With this plurality of attractive features, the housing market in Stellenbosch hasbecome one of the most active and expensive housing markets in South Africa. In this specificallybooming housing market, it is indispensable to conduct a housing preference and priorities study todetermine residents' tastes and preferences, in order to help those concerned, residents, real estateagents or people related to housing, to make better housing decision. At the same time, consideringthe affluent housing market in Stellenbosch, sellers and real estate agents are facing the problem ofappraising the actual market value of houses. There is an apparent lack of a normative method toevaluate houses, and it is noteworthy that assessments almost always depend on the subjectiveexperience of sellers and real estate agents.

[发布机构] Stellenbosch University