Enhanced housing price index boosts effective policies and investments in Malaysia.
The researchers enhanced the method for calculating house prices in Malaysia to make it more accurate. They studied over 6,000 house transactions in Johor Bahru from 2006 to 2011. By using a combination of regression and spatial models, they found that the shrinkage method is the most reliable for predicting house prices. They also improved the accuracy of the house price index by adjusting for seasonal changes. This enhanced method can help the government and investors make better decisions about housing policies and investments.