Journal of Sustainable Development · 2011 · 10 citations · 42 references
BusinessBusiness EconomicsEconomicsHousingPricing TheoryReal Estate EconomicsHedonic PricingHome EnvironmentHousing DemandHousing EconomicsHousing MarketsMarket-based ValuationHome Pricing StrategyHousing Market ModelsHousing Price ModelingHousing PricesResidential Property Market AnalysisResidential Property Prices
The study examines the impact of Jacuzzi bathtubs on house prices. Jacuzzi bathtubs have health related benefits. This study empirically tests a hedonic house pricing model using a sample of 138 houses in high income residential sub-market of Lekki phase one in Lagos metropolis. Forty-six duplexes have Jacuzzi bathtubs installed in their homes while Ninety-two do not. The study results show that that having Jacuzzi bathtubs increases home value by N2, 167,615.
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