The roles of developer’s status and competitive intensity in presale pricing in a residential market: A study of the spatio-temporal model in Hangzhou, China

Eddie Chi-Man HUI, Cong LIANG*, Ziyou WANG, Yuan WANG

*Corresponding author for this work

Research output: Journal PublicationsJournal Article (refereed)peer-review

16 Citations (Scopus)

Abstract

This study investigates the roles of developer’s status and competitive intensity in presale pricing in residential markets. The study examines various competitive factors in Hangzhou, China, within a spatial-temporal framework. These factors include competitive intensity and developer’s status, plus two independent variable groups: external attributes and project features. To overcome the shortcomings of traditional valuation methods, the estimation makes use of spatial and temporal data via three different approaches. They are the Geographically and Temporally Weighted Regressions (GTWR), Spatial Temporal Hedonic Model (STHM) and Spatial Temporal Autoregressive Model (STAR). The analysis reveals that there exists spatial and temporal dependence in the Hangzhou real estate market. Not only does this study provide new findings and a better understanding of the factors affecting presale pricing, but it also offers valuable implications about competitive intensity for policymakers and urban planners in the spatio-temporal context.
Original languageEnglish
Pages (from-to)1203-1224
JournalUrban Studies
Volume53
Issue number6
Early online date4 Mar 2015
DOIs
Publication statusPublished - May 2016
Externally publishedYes

Bibliographical note

Acknowledgments:
The authors are grateful to the editor and anonymous reviewers for their help and comments.

Funding:
The research was funded by the UGC GRF’s Funding (B-Q42Q), the Hong Kong Polytechnic University’s Internal Grants (4-ZZC1&8) and the National Natural Science Foundation of China (project 71303060).

Keywords

  • competitive intensity
  • Hedonic Model
  • presale
  • residential markets
  • Spatial Temporal Model

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