Marketing Time and Pricing Strategies

Eddie C.M. Hui (), Joe T.Y. Wong and K.T. Wong
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Eddie C.M. Hui: The Hong Kong Polytechnic University
Authors registered in the RePEc Author Service: Kwan To Wong ()

Journal of Real Estate Research, 2012, vol. 34, issue 3, 375-398

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.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (5)

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