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Article: Modeling Hong Kong real estate prices

TitleModeling Hong Kong real estate prices
Authors
KeywordsNonlinear effect
Hedonic price model
Feng shui
Issue Date2007
Citation
Journal of Housing and the Built Environment, 2007, v. 22, n. 4, p. 359-368 How to Cite?
AbstractThis paper attempts to estimate real estate prices from a Hong Kong perspective. A hedonic price model is estimated utilizing housing transaction data during a period of relatively stable property price movements. Empirical results suggest that while a residential property of larger size, higher floor level, and better view commands a higher transaction price, a property lying closer to the mass transit railway station also commands a price premium. The nonlinear effect of floor level has also been confirmed to exert an impact upon prices. Furthermore, an apartment located on an "unlucky number" floor is not preferred by homebuyers and is usually transacted at a price discount. © Springer Science+Business Media B.V. 2007.
Persistent Identifierhttp://hdl.handle.net/10722/219548
ISSN
2015 Impact Factor: 0.81
2015 SCImago Journal Rankings: 0.648

 

DC FieldValueLanguage
dc.contributor.authorChoy, Lennon H T-
dc.contributor.authorMak, Stephen W K-
dc.contributor.authorHo, Winky K O-
dc.date.accessioned2015-09-23T02:57:22Z-
dc.date.available2015-09-23T02:57:22Z-
dc.date.issued2007-
dc.identifier.citationJournal of Housing and the Built Environment, 2007, v. 22, n. 4, p. 359-368-
dc.identifier.issn1566-4910-
dc.identifier.urihttp://hdl.handle.net/10722/219548-
dc.description.abstractThis paper attempts to estimate real estate prices from a Hong Kong perspective. A hedonic price model is estimated utilizing housing transaction data during a period of relatively stable property price movements. Empirical results suggest that while a residential property of larger size, higher floor level, and better view commands a higher transaction price, a property lying closer to the mass transit railway station also commands a price premium. The nonlinear effect of floor level has also been confirmed to exert an impact upon prices. Furthermore, an apartment located on an "unlucky number" floor is not preferred by homebuyers and is usually transacted at a price discount. © Springer Science+Business Media B.V. 2007.-
dc.languageeng-
dc.relation.ispartofJournal of Housing and the Built Environment-
dc.subjectNonlinear effect-
dc.subjectHedonic price model-
dc.subjectFeng shui-
dc.titleModeling Hong Kong real estate prices-
dc.typeArticle-
dc.description.natureLink_to_subscribed_fulltext-
dc.identifier.doi10.1007/s10901-007-9089-2-
dc.identifier.scopuseid_2-s2.0-35648948341-
dc.identifier.volume22-
dc.identifier.issue4-
dc.identifier.spage359-
dc.identifier.epage368-

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