IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

An Estimation of the Impact of Feng-Shui on Housing Prices in Taiwan¡GA Quantile Regression Application

  • Chu-Chia Lin

    ()

    (Professor, Department of Economics, National Chengchi University, Taipei, Taiwan)

  • Chien-Liang Chen

    (Professor, Department of Economics, National Chi-Nan University, Nan-Tou County, Taiwan)

  • Ya-Chien Twu

    (M.A., Department of Economics, National Chengchi University, Taipei, Taiwan)

Registered author(s):

    Feng-shui is an old and traditional body of knowledge in Chinese society. Feng-shui has a significant influence on many aspects in daily life for most Chinese, including choosing locations for dwelling units, offices, burial sites, and so on. However, there have been few studies on the impact of feng-shui on housing prices. By applying a housing hedonic equation and a data set of 77,624 observations in Taiwan, we have attempted to estimate the impact of feng-shui on housing prices. We find that all six types of bad feng-shui have a significantly negative impact on housing prices. Moreover, by applying a quantile regression, we find that most of the bad feng-shui has a stronger negative impact on expensive dwelling units. Our findings confirm that people who buy expensive housing units care about feng-shui more than those who buy less expensive housing units.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.umac.mo/fba/irer/papers/current/vol15n3_pdf/04.pdf
    File Function: Full text
    Download Restriction: no

    Article provided by Asian Real Estate Society in its journal International Real Estate Review.

    Volume (Year): 15 (2012)
    Issue (Month): 3 ()
    Pages: 325-346

    as
    in new window

    Handle: RePEc:ire:issued:v:15:n:03:2012:p:325-346
    Contact details of provider: Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
    Web page: http://www.asres.org/

    Order Information: Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
    Web: http://www.asres.org/ Email:


    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Goodman, Allen C., 1978. "Hedonic prices, price indices and housing markets," Journal of Urban Economics, Elsevier, vol. 5(4), pages 471-484, October.
    2. Goodman, Allen C. & Kawai, Masahiro, 1982. "Permanent income, hedonic prices, and demand for housing: New evidence," Journal of Urban Economics, Elsevier, vol. 12(2), pages 214-237, September.
    3. Koenker, Roger & Bassett, Gilbert, Jr, 1982. "Robust Tests for Heteroscedasticity Based on Regression Quantiles," Econometrica, Econometric Society, vol. 50(1), pages 43-61, January.
    4. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    5. Steven C. Bourassa & Vincent S. Peng, 1999. "Hedonic Prices and House Numbers: The Influence of Feng Shui," International Real Estate Review, Asian Real Estate Society, vol. 2(1), pages 79-93.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:ire:issued:v:15:n:03:2012:p:325-346. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (IRER Secretary Office/Webmaster)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.