Analysis of Effective Factors on Housing Prices by Using Stepwise Regression Analysis (A case study of Tehran's Fatemi district)

Housing-price is one of the indicators that help much to provide Housing projects through identification the factors effect on it. Checking the quality of residence and better understanding of investment opportunities to stimulate the development of urban fabrics - specifically fabrics that are being renovated- is required the detailed information of property prices. Tehran's Fatemi District has been faced with renovation, because this location has a special situation and high value of property large changes in housing prices. The spread changes of housing prices in this District will lead to the heterogeneities in the renovation and following it, reduction in integration of spatial District. This research has been studied with purpose of review the effective variables on housing prices, according to the research literature and empirical studies. These variables are include: building density, access to main thoroughfares, dilapidated areas and commercial lease prices and land area that in scale of block and were measured for the Whole of the District. To analysis the correlations between discussed variables as independent variables and housing prices as the dependent variable, was used from stepwise regression analysis. The results of this analysis show that the variables of “cost of commercial lease prices” and “access to main streets” are significantly associated with housing prices with a coefficient of determination of 64.0 (99% confidence level). In connection with the results of the analysis, it must be added that, in each District, according to the specific characteristics of that District, we can find other variables -except the 5 studied variables- effects on the housing price and its changes. Also the results of this research necessarily cannot be generalized to other localities.