...Vivian W.Y. Tam; L.Y. Shen Purpose Traditionally, construction projects are awarded based on the lowest submitted tendering prices. However, this awarding method often causes problems on project delay, poor risk assessment and increased claims from variations. This paper aims to address...

... firms. Design/methodology/approach Hedonic price model is performed to estimate the price index of individual housing estate. The values of the coefficients of the attributes may change in response to a changing environment. A professional judgment should be given by appraisers on time intervals...