Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/27166
Title: Modeling Hong Kong real estate prices
Authors: Choy, LHT 
Mak, SWK
Ho, WKO
Keywords: Feng shui
Hedonic price model
Nonlinear effect
Issue Date: 2007
Publisher: Springer
Source: Journal of housing and the built environment, 2007, v. 22, no. 4, p. 359-368 How to cite?
Journal: Journal of housing and the built environment 
Abstract: This paper attempts to estimate real estate prices from a Hong Kong perspective. A hedonic price model is estimated utilizing housing transaction data during a period of relatively stable property price movements. Empirical results suggest that while a residential property of larger size, higher floor level, and better view commands a higher transaction price, a property lying closer to the mass transit railway station also commands a price premium. The nonlinear effect of floor level has also been confirmed to exert an impact upon prices. Furthermore, an apartment located on an "unlucky number" floor is not preferred by homebuyers and is usually transacted at a price discount.
URI: http://hdl.handle.net/10397/27166
ISSN: 1566-4910
EISSN: 1573-7772
DOI: 10.1007/s10901-007-9089-2
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