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Impact of Number of Bidders on Sale Price of Auctioned Condominium Apartments in Stockholm

Listed author(s):
  • Rosane Hungria-Gunnelin

    ()

    (Department of Real Estate and Construction Management, Royal Institute of Technology, Stockholm)

Registered author(s):

    This paper empirically tests the effect of the number of bidders on the sale price of condominium apartments in Stockholm by using data gathered during 2010. The results show that the number of participants in a real estate auction plays a significant role in the final auctioned price. The average price per square meter paid by every extra bidder has an increasing but decelerating growth, starting with an approximate 4 percent increase when going from one to two bidders.

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    File URL: http://www.umac.mo/fba/irer/papers/current/vol16n3_pdf/03.pdf
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    Article provided by Asian Real Estate Society in its journal International Real Estate Review.

    Volume (Year): 16 (2013)
    Issue (Month): 3 ()
    Pages: 274-295

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    Handle: RePEc:ire:issued:v:16:n:03:2013:p:274-295
    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
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    1. Donald R. Haurin & Jessica L. Haurin & Taylor Nadauld & Anthony Sanders, 2010. "List Prices, Sale Prices and Marketing Time: An Application to U.S. Housing Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 38(4), pages 659-685, Winter.
    2. McAfee, R. Preston & McMillan, John, 1987. "Auctions with a stochastic number of bidders," Journal of Economic Theory, Elsevier, vol. 43(1), pages 1-19, October.
    3. Jeremy Bulow & Paul Klemperer, 2009. "Why Do Sellers (Usually) Prefer Auctions?," American Economic Review, American Economic Association, vol. 99(4), pages 1544-75, September.
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