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Article: The pricing of 'luckiness' in the apartment market

TitleThe pricing of 'luckiness' in the apartment market
Authors
Chau, KWMa, VSMHo, DCW
Issue Date2001
PublisherAmerican Real Estate Society. The Journal's web site is located at http://cbeweb-1.fullerton.edu/finance/jrel/about/default.htm
Citation
Journal of Real Estate Literature, 2001, v. 9 n. 1, p. 31-40 How to Cite?
AbstractPeople are willing to pay a premium for a lucky property. In a Cantonese prevailing society such as Hong Kong, many people regard the number 8 as lucky since 8 has similar pronunciation as prosperity in Cantonese. Therefore, a lucky floor number is a valuable attribute. Although not all Cantonese are superstitious about the luckiness of the number 8, it is an added benefit that no Cantonese will reject. A hedonic price model is estimated using transaction data during the booms and slumps of the property market. The result shows that flats with lucky floor numbers are sold at a significantly higher price during property booms than property slumps.
Persistent Identifierhttp://hdl.handle.net/10722/81964
ISSN
0927-7544
2023 SCImago Journal Rankings: 0.185

 

DC FieldValueLanguage
dc.contributor.authorChau, KWen_HK
dc.contributor.authorMa, VSMen_HK
dc.contributor.authorHo, DCWen_HK
dc.date.accessioned2010-09-06T08:23:56Z-
dc.date.available2010-09-06T08:23:56Z-
dc.date.issued2001en_HK
dc.identifier.citationJournal of Real Estate Literature, 2001, v. 9 n. 1, p. 31-40en_HK
dc.identifier.issn0927-7544en_HK
dc.identifier.urihttp://hdl.handle.net/10722/81964-
dc.description.abstractPeople are willing to pay a premium for a lucky property. In a Cantonese prevailing society such as Hong Kong, many people regard the number 8 as lucky since 8 has similar pronunciation as prosperity in Cantonese. Therefore, a lucky floor number is a valuable attribute. Although not all Cantonese are superstitious about the luckiness of the number 8, it is an added benefit that no Cantonese will reject. A hedonic price model is estimated using transaction data during the booms and slumps of the property market. The result shows that flats with lucky floor numbers are sold at a significantly higher price during property booms than property slumps.-
dc.languageengen_HK
dc.publisherAmerican Real Estate Society. The Journal's web site is located at http://cbeweb-1.fullerton.edu/finance/jrel/about/default.htmen_HK
dc.relation.ispartofJournal of Real Estate Literatureen_HK
dc.titleThe pricing of 'luckiness' in the apartment marketen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0927-7544&volume=9 1&spage=31&epage=40&date=2000&atitle=Te+Pricing+of+Luckiness+in+the+Apartment+Marketen_HK
dc.identifier.emailChau, KW: hrrbckw@hkucc.hku.hken_HK
dc.identifier.emailHo, DCW: danielho@hkucc.hku.hken_HK
dc.identifier.authorityChau, KW=rp00993en_HK
dc.identifier.authorityHo, DCW=rp01001en_HK
dc.identifier.hkuros54321en_HK
dc.identifier.issnl0927-7544-

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