The housing sector is widely associated with the economic wealth of a nation. This study focuses on the consumption aspect of the housing market and therefore it is crucial to outline and understand the attributes and characteristics that contribute to the value of a good in the real estate market. Literature has shown that the market price of a housing unit can be determined by the buyers’ evaluations of the housing unit’s bundle of inherent attributes, such as locational, structural, or neighbourhood attributes. The most adopted method scholars have been using to model real estate market price is the hedonic price model.