An Analysis of Factors Affecting Housing Values in Swat, Pakistan

Abstract

Purpose: Housing is an essential requirement that can improve the quality of life. A house has a specific value varying from time to time and place to place. However, several factors exist that affect housing values. This study is worked out to investigate the factors that affect the housing prices in district Swat, Pakistan.

Research Gap: The present study bridges the gap by figuring out the dynamic factors affecting housing values in urban area of district Swat.

Design/Methodology/Approach: The primary data was collected through a survey and a proper questionnaire was designed to record the responses of respondents. A sample size of 65 respondents from three specific areas is taken using simple random sampling technique. The data is analyzed using SPSS software and results are obtained mostly through frequencies and descriptive statistics.

The Main Findings: The findings of the study discovered that size of the house, safe location, environmental amenities such as access to clean water and clean air, condition of the house, and availability of utilities i.e., Electricity, Gas, and Water strongly affect the housing prices. The results also showed that public transport facility, parking facility inside the house, and rooms with attached washrooms affects the housing value.

Theoretical/Practical Implications of the Findings: The study has some implications for society as well as for government. It recommends that environmental quality should not be compromised as a clean and pleasant environment is strongly linked with quality of housing. The government should improve the drainage system within cities and villages because poor drainage systems cannot resist an unexpected flow of water and mostly shape them into flood.

Originality: The present work is a genuine study carried out for research purposes and maintained originality. Preceding studies have not identified the factors like houses having their own walls (not supported by neighbor’s walls), rooms having attached washrooms, and congested street as determinants of housing value that has been addressed by the current study.