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Marketing Time and Pricing Strategies

  • Eddie C.M. Hui

    ()

    (The Hong Kong Polytechnic University)

  • Joe T.Y. Wong
  • K.T. Wong
Registered author(s):

    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.

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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol34n03/05.375_398.pdf
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    Article provided by American Real Estate Society in its journal journal of Real Estate Research.

    Volume (Year): 34 (2012)
    Issue (Month): 3 ()
    Pages: 375-398

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    Handle: RePEc:jre:issued:v:34:n:3:2012:p:375-398
    Contact details of provider: Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
    Web page: http://www.aresnet.org/Email:

    Order Information: Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
    Web: http://pages.jh.edu/jrer/about/get.htm Email:


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