@article{10.11648/j.advances.20230402.14,
  author = {Tamirat Mekonnen Mekuria},
  title = {The Factors Affecting Real Estate Prices in Bahir Dar City},
  journal = {Advances},
  volume = {4},
  number = {2},
  pages = {60-73},
  doi = {10.11648/j.advances.20230402.14},
  url = {https://doi.org/10.11648/j.advances.20230402.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.advances.20230402.14},
  abstract = {Over the most of this decade, Ethiopian real estate has increased. Prices doubled and even tripled in a number of locations during a short period of time, particularly in Bahir Dar, the capital city of the Amhara Region. The identification of the variables that influence real estate value is one of the most crucial aspects of the valuation process. Several sources contain various factors. The components' weights and counts can vary depending on an individual's experiences and goals. Some of these variables will not significantly effect the value of real estate, while others will have a big impact. Determining the essential valuation elements and their importance is therefore crucial. The primary goal of this study is to identify the key causes of the rise in Bahir Dar real estate prices. For the study, standardized questionnaires were employed to collect survey data. Selected real estate management staff members received 20 surveys. To analyze the data, descriptive statistics were used. According to the findings, Bahir Dar's management of real estate firms believes that housing affordability has largely been restricted to the top class and that real estate prices have risen. On the one hand, the location, physical attributes, and accessibility of properties were noted as the three main micro-factors affecting real estate price. On the other hand, one of the key macro-factors impacting real estate values was found to be population growth and taxes. Based on the research, the author suggests that it's critical to keep an eye on real estate price growth, particularly given that the current real estate market appears to be geared exclusively toward the wealthy. The cost of real estate may become more affordable, particularly for the middle and lower classes, with the improvement of infrastructure upgrades that will increase real estate properties' accessibility to transportation and other crucial facilities. Last but not least, reducing the cost of construction by increasing the number and caliber of skilled workers, facilitating access to the most recent construction technologies, and utilizing alternative construction techniques that can cut down on construction costs and shorten construction times will all help to lower the final real estate price.},
 year = {2023}
}

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TY  - JOUR
T1  - The Factors Affecting Real Estate Prices in Bahir Dar City
AU  - Tamirat Mekonnen Mekuria
Y1  - 2023/07/20
PY  - 2023
N1  - https://doi.org/10.11648/j.advances.20230402.14
DO  - 10.11648/j.advances.20230402.14
T2  - Advances
JF  - Advances
JO  - Advances
SP  - 60
EP  - 73
PB  - Science Publishing Group
SN  - 2994-7200
UR  - https://doi.org/10.11648/j.advances.20230402.14
AB  - Over the most of this decade, Ethiopian real estate has increased. Prices doubled and even tripled in a number of locations during a short period of time, particularly in Bahir Dar, the capital city of the Amhara Region. The identification of the variables that influence real estate value is one of the most crucial aspects of the valuation process. Several sources contain various factors. The components' weights and counts can vary depending on an individual's experiences and goals. Some of these variables will not significantly effect the value of real estate, while others will have a big impact. Determining the essential valuation elements and their importance is therefore crucial. The primary goal of this study is to identify the key causes of the rise in Bahir Dar real estate prices. For the study, standardized questionnaires were employed to collect survey data. Selected real estate management staff members received 20 surveys. To analyze the data, descriptive statistics were used. According to the findings, Bahir Dar's management of real estate firms believes that housing affordability has largely been restricted to the top class and that real estate prices have risen. On the one hand, the location, physical attributes, and accessibility of properties were noted as the three main micro-factors affecting real estate price. On the other hand, one of the key macro-factors impacting real estate values was found to be population growth and taxes. Based on the research, the author suggests that it's critical to keep an eye on real estate price growth, particularly given that the current real estate market appears to be geared exclusively toward the wealthy. The cost of real estate may become more affordable, particularly for the middle and lower classes, with the improvement of infrastructure upgrades that will increase real estate properties' accessibility to transportation and other crucial facilities. Last but not least, reducing the cost of construction by increasing the number and caliber of skilled workers, facilitating access to the most recent construction technologies, and utilizing alternative construction techniques that can cut down on construction costs and shorten construction times will all help to lower the final real estate price.
VL  - 4
IS  - 2
ER  - 

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