Factors affecting housing prices in metropolitan regions
In the early 1950s, the rapid growth of urban populations and migration increase (Ghaedrahmati‒Zarghamfard 2020) changed the pattern of human settlement worldwide (Zarghamfard et al. 2019: p. 453). Lack of adequate housing is the first challenge posed by fast and unplanned urbanization (Meshkini-Zarghamfard 2020: p. 83) because housing is a durable, inhomogeneous, immovable, capital and consumer good that has a large share of the capital, lifelong assets of many households, costs and constant gross domestic investment (Roustaei et al. 2018: p. 86).
This housing characteristic has made it a significant concern for experts and policy-makers (Zarghamfard et al. 2019, 2023b, Janakipour et al. 2022). Success in implementing housing policies requires accurate knowledge of consumers’ preferences and, specifically, their housing preferences. Therefore, determining and estimating housing prices is crucial for planners and decision-makers (Malpezzi 2003: p. 69). Housing prices have significant economic and social importance, and adequate and affordable housing is essential in determining the quality of life (Maher 1994: p. 13, Remenyik et al. 2021, Hakim et al. 2023).
