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Determinants of House Prices in Mauritius: A Hedonic Price Model à la Quantile Bootstrapped Approach

  • Indranarain Ramlall
Chapter

Abstract

This chapter probes into the forces which impound on house prices in Mauritius by using a unique database of 3,597 house owners. Despite many efforts made to get market data from major stakeholders, all efforts proved fruitless. In that respect, a survey was conducted for the analysis. Four key components of features are embedded in our analysis – namely, environmental, intrinsic, neighbourhood and owners’ characteristics. A rigorous and comprehensive analysis was undertaken by estimating quantile regressions based on bootstrapped standard errors to generate reliable results. Robust effects are noted in the cases of land value, the number of bathrooms, the number of toilets, the presence of swimming pool and district belongingness. Based on the conclusions obtained, a weighted house price index which incorporate distinct metrics, is being proposed. Policy-wise, different stakeholders can use our index to ensure proper house pricing, let alone cushioning borrowers from malpractices.

Keywords

House Price Quantile Regression Swimming Pool Traffic Noise Hedonic Price 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© The Author(s) 2017

Authors and Affiliations

  • Indranarain Ramlall
    • 1
  1. 1.University of MauritiusMokaMauritius

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