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Publication date: 8 November 2024

Melkam Ayalew Gebru, Tadesse Amsalu and Worku Nega

The paper aims to estimate the house rental values for the purpose of customizing mass appraisals in Bahir Dar City, Ethiopia. It seeks to identify the critical factors affecting…

Abstract

Purpose

The paper aims to estimate the house rental values for the purpose of customizing mass appraisals in Bahir Dar City, Ethiopia. It seeks to identify the critical factors affecting the rental values of residential properties and customize a mass appraisal model for such properties. The study focuses on identifying attributes that significantly affect house rental values.

Design/methodology/approach

The paper adopted a survey research design, utilizing a survey questionnaire, expert group discussion and document analysis. The data were analyzed using thematic, descriptive and inferential statistical analysis, including correlation and hedonic regression analysis.

Findings

Among the variables included in the model, the number of rooms, availability of schools, land value grading, type of nearest road, housing typology, built-up area, plot area, walling material, traveling cost and fencing materials were the most significant factors for predicting the annual rental value of residential properties in the city.

Research limitations/implications

The findings of this study will provide valuable insights to tax assessors, property owners and local government authorities, including municipalities, concerning the key determinants of the rental values of residential properties. Besides, these findings will serve as a useful tool for valuers and researchers in the field of property value modeling.

Originality/value

This study represents the first attempt to develop a framework for mass appraisal of residential properties using annual rental values in the Ethiopian context.

Details

Property Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-7472

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