FACTORS AFFECTING PRICE OFFERS FOR NEW SINGLE HOUSES IN THAILAND'S EASTERN ECONOMIC CORRIDOR AREA

Abstract

Especially in a commercially-promoted region like Thailand's Eastern Economic Corridor, housing prices are crucial to a nation's economy (EEC). Although it is known that prices are sensitive to house characteristics, accessibility variables, and locational factors, no empirical study has examined whether the impacts of the three sets of factors on the prices of EEC-listed houses are statistically significant. Consequently, the present study seeks to fill this need. We collected the prices of 215 residences in Thailand's EEC region listed on a single real estate website using a Python script as our primary data collecting instrument. Additionally, seven housing characteristics, five accessibility variables, and one locational factor were taken into account during data collection. Using regression as our primary analysis method, we discovered that four variables from the three categories strongly explained the pricing. Other statistics indicate that the output of the analysis is of acceptable quality. In addition to advancing theoretical understanding of housing costs in Thailand's EEC region, our findings can help housing developers improve their pricing tactics.