Assessing the Influence of Housing Attributes on Rent in the Urban Context of Khulna
DOI:
https://doi.org/10.53808/KUS.2025.22.02.1340-ssKeywords:
Hedonic pricing method, Neighborhood, Characteristics, Structural variablesAbstract
Rapid urbanization pressure is one of the major challenges of city corporation authorities in Bangladesh. House rents have become a major concern in Bangladesh. However, few studies have assessed the value of housing characteristics in the housing market in the southern region of Bangladesh. Hence, this study examines the value of housing characteristics on house rent in Khulna City, considering 180 respondents. The hedonic pricing method has been used to examine the value of four housing characteristics–structural, location, transportation, and neighborhood in the housing market. The study found that these housing characteristics explain the variation in housing rents significantly. Structural attributes–A shift of floor materials from tile to cement decreases house rent by 0.062 %, while a 1% increase in the number of rooms boosts house rent by 0.171%. Neighborhood characteristics–one discrete unit increase in a 5-point fire extinguishing system improvement scale from very poor to very good turnout, a 2.8% rent increase. Structural and neighborhood characteristics significantly influence the rental prices of both planned and unplanned areas. Further analysis showed that the rent of planned residential areas is more sensitive to noise pollution and school distance, whereas unplanned areas are more sensitive to income, bus stops, and the number of bedrooms. Furthermore, this study calculates the value of house attributes in the housing market of Khulna City. This study suggests that improving housing characteristics increases house rent, which in turn attracts effective urban planning and zoning regulations.
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