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Title: An empirical study of valuation accuracy and variation in Hong Kong land auctions
Authors: Man, KF
Ng, CW
Issue Date: 2007
Publisher: Appraisal Institute
Source: Appraisal journal, 2007, v. 75, no. 3, p. 253-263 How to cite?
Journal: Appraisal journal 
Abstract: Previous studies on valuation accuracy only deal with investment properties. This study examines empirically the accuracy of the valuations produced by appraisers in a particular situation: the auctioning of vacant land by the Hong Kong government. Using regression analysis, this study finds that private sector appraisers perform better than public sector appraisers. Among the private sector appraisers, the variation in estimation of values relative to the transaction price falls outside a 20% band, 70% of the time, due to the high volatility of the market during the sample period.
ISSN: 0003-7087
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