Hedonic Model for Off-Campus Student Housing Around Thammasat University, Rangsit Campus

摘要

Thammasat University (TU) is one of the oldest and most well-known universities in Thailand. The Rangsit campus of TU has the largest number of students. The area around the campus has continuous development, which convinces people to come for studying and living around this area. With the increasing population in the area, the demand for residences has also increased. The dormitories of the TU Rangsit campus can accommodate a limited number of students. Therefore, the off-campus residences, for instance, an apartment or a condominium is an alternative for students. This research studies the current trend of the facilities provided by apartments and the significant factors affecting the rental price. Thirty-two independent parameters are collected from all apartments around the TU Rangsit campus. Multiple linear regression is employed to analyze the significant factors that affect the rental price. The average rental price per month is 8079.40 Baht (260 dollars), and the average rental price per square meter is 226.85 Baht (7.30 dollars). The results indicate that the significant factors affecting the rental price are free Wi-Fi availability in the shared-common area, convenience store under the building, location, monthly maintenance price, being next to a main road, age of establishment, water heater, fitness facility, recent renovation, refrigerator, swimming pool, laundry and dry-cleaning service, and restaurant under the building.