ALMOUJ PRICING MODEL
Muscat, Oman  ·  The Wave community
Hedonic MLR, n = 50
Independent research · not affiliated with any developer or agency

What's an apartment
in The Wave actually worth?

A hedonic pricing model built on 50 verified Almouj listings, validated against 10 held-out properties. Adjust the specifications below — the estimate updates from a multiple linear regression fit on log-transformed price.

Property specification
2
2
1
3
Model trained on data from Wave Homes and Dubizzle listings, September 2025. Floor number, balconies, and exact sub-location were not statistically significant predictors in the fitted model (p > 0.05) — they're included here for completeness, not because the model weighs them heavily.
.90 R² TEST
Estimated valuation
Predicted price
—OMR
± 15,800 OMR estimated error
— OMR / m²
What's driving this number
Prediction = exp(11.2307 + 0.0012·sqm + 0.2110·bed + 0.0320·bath − 0.0377·balcony + 0.0125·floor + location + view + furnishing). Coefficients fit by OLS on log-transformed price, n = 40 training rows, tested on 10 held-out listings.
Sample

50 verified listings

Sourced from Wave Homes and Dubizzle in September 2025. Prices ranged 90,000–300,000 OMR with a right-skewed distribution, corrected with a log transform before fitting.

Mean price/m²: 1,175.8 OMR
Model

Multiple linear regression

Parking spaces were dropped for severe multicollinearity (VIF > 100). Marina view and surface area were the strongest correlates of price (r = 0.83 and r = 0.79).

F-statistic 35.29, p < 0.001
Validation

Tested out-of-sample

A separate 10-apartment set, unseen during training, was used to test real-world accuracy. MLR generalized better here than a principal component regression alternative.

Mean absolute error: 10,902 OMR