Marketing time and pricing strategies

Chi Man Hui, Joe T.Y. Wong, K. T. Wong

Research output: Journal article publicationReview articleAcademic researchpeer-review

18 Citations (Scopus)

Abstract

This study examines how overpricing of properties (in terms of above-market price), along with various housing attributes, influence their time-on-market (TOM). The results with the full sample show that only dummy variables depicting years 2003-2005 and flats located in Kowloon significantly affect TOM. In the sub-period analyses, however, factors such as the abovemarket price, sale price, a flat's tenure status, general property price trend, and changes in unemployment rate have significant impacts on TOM, yet their respective impacts change over time. Specifically, the effectiveness of overpricing in optimizing sellers' returns and TOM depends on economic conditions as well as on the availability of other alternatives on the housing market.
Original languageEnglish
Pages (from-to)375-398
Number of pages24
JournalJournal of Real Estate Research
Volume34
Issue number3
Publication statusPublished - 1 Jul 2012

ASJC Scopus subject areas

  • Economics, Econometrics and Finance (miscellaneous)

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