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A study of sale price and marketing time for the new housing building

A study of sale price and marketing time for the new housing building. Dr. Ming-Yi Huang National Pingtung Institute of Commerce, Taiwan. Introduction.

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A study of sale price and marketing time for the new housing building

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  1. A study of sale price and marketing time for the new housing building Dr. Ming-Yi Huang National Pingtung Institute of Commerce, Taiwan

  2. Introduction • In the past research, used houses are targeted by most of literatures. Therefore, they can’t provide new housing buildings with reasonable explanation. • Transaction data of used house is mainly a single product and new housing building is a set of combined product

  3. New housing building V.S Used house

  4. There are many differences between a new housing building sold by developer and a used house sold by the real estate brokerage. • The study focuses how to sell all product of new housing building in the shortest time and position room combination ratio, price and area? • When room combination ratio, price and area deviate from normal distribution, does the distance of deviation influence sales time of a new housing building?

  5. Methodology Data • The new housing building located in Kaohsiung, the second metropolis in Taiwan. • 192 samples collected from 2001 to 2006. Model • K-mean method of cluster analysis

  6. Formula of measuring deviation where Xβi is the proportion of room I, Xαi is the proportion of normal room I • Simultaneous-equation model (1) (2)

  7. List of variables

  8. Descriptive Statistics (N=192)

  9. Empirical results Results obtained from area (m2) Results obtained from Room (%) Results obtained from Price (USD / m2 )

  10. Results obtained from 2SLS and 3SLS

  11. Conclusion • The relationship of sales time and sales price • The influence of sales time on sales price is positive. It means that sales time will increase with higher sales price. • The influence of sales price on sales time is negative. It means that sales price will be higher with shorter time on sale.

  12. The deviation of room combination ratio, price and area • When room combination ratio deviates from normal distribution, it will increase sales time. • When price combination ratio deviates from normal distribution, it will increase sales time. • When area combination ratio deviates from normal distribution, it will increase sales time.

  13. Thanks for your listening !

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