Analysis of the Affecting Factors on Housing Prices in Coastal Areas (Case Study: Urmia City)

Housing sector and its price is influenced by many factors. These factors can be divided into supply and demand factors, and each of these factors includes many variables. Since the non-homogeneity of the housing market in all provinces, the evidence indicates that the housing market should be looked at regionally. This article aimed to analyze the factors affecting housing prices in Urmia. The research was applied with a descriptive-analytical approach, and various library methods, surveys, and interviews have been used to collect data. It was applied-developmental in terms of purpose and aimed to identify and build a conceptual model using structural equations (Smart PLS) for housing prices in Urmia and it was exploratory in nature. Also, it was a mixed methods research. The research population included 30 experts who were selected purposefully. The results showed that four social, physical, managerial, and economic components explain 70% of housing prices. In such a way that the combined coefficient of each component depends on other components as well. In other words, the composite coefficient showed to what extent the housing price growth in Urmia City has been affected by the shock on the economic component with other influential components. The analysis of the path coefficients related to the 4 investigated components showed that economic (E), managerial (M), physical (Ph), and social (S) components with values of 0.169, 0.014, 0.088, and 0.033 respectively have had the most impact on the housing prices in Urmia.