Factors Causing Fluctuations in Residential Land Prices: A Case Study in Tu Son City, Vietnam

The study aims to determine the degree of impact of residential land price fluctuations and discuss policy implications for more effective management of land prices. Through a two-step survey, we survey land price experts to determine the factors that influence land price fluctuations. A model of influencing factors is evaluated based on testing criteria. Twenty-four factors from 8 groups of factors cause land price fluctuations. The impact rate of the different groups of factors ranges from 4.41% to 24.77%. Their impact index ranges from 2.55 to 4.71. The group of factors related to the COVID-19 pandemic has the most significant impact rate and impact index. The factors related to investment in building infrastructure have the lowest impact rate and impact index. To manage land prices and the real estate market well, it is necessary to pay attention to the factors that have stronger impacts first, and then the weaker ones.