Pricing of pre-sale properties with construction uncertainties

Barbara Y.P. Leung; Eddie C.M. Hui

Pricing of pre-sale properties with construction uncertainties

Barbara Y.P. Leung
, Eddie C.M. Hui

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

3 Citations (Scopus)

Abstract

Property developers have increasingly used forward contracts to pre-sell their properties that are under construction in order to enhance their financial viability. This practice is prevalent especially in big cities like Hong Kong in which large-scale housing developments are popular. However, limited research has been conducted to explore the specific risks involved in forward property markets compared to that of spot property markets. This research explored the forward risks embedded in a pre-sale of property and how they affect the pricing mechanism with reference to the forward property market in Hong Kong. Preliminary study on the efficiency of the forward property market has also been conducted which shows that higher volatility is embedded in the market compared to that of the spot market.

Original language	English
Title of host publication	Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference
Pages	277-286
Volume	1
Publication status	Published - 2005
Externally published	Yes
Event	21st Annual Conference on Association of Researchers in Construction Management, ARCOM 2005 - London, United Kingdom Duration: 7 Sept 2005 → 9 Sept 2005

Publication series

Name	Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference
Volume	1

Conference

Conference	21st Annual Conference on Association of Researchers in Construction Management, ARCOM 2005
Place	United Kingdom
City	London
Period	7/09/05 → 9/09/05

Bibliographical note

Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 11 Sustainable Cities and Communities

Research Keywords

Forward property market
Pre-sale property
Risks

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@inproceedings{4da9e1fd65234725888190517889df89,

title = "Pricing of pre-sale properties with construction uncertainties",

abstract = "Property developers have increasingly used forward contracts to pre-sell their properties that are under construction in order to enhance their financial viability. This practice is prevalent especially in big cities like Hong Kong in which large-scale housing developments are popular. However, limited research has been conducted to explore the specific risks involved in forward property markets compared to that of spot property markets. This research explored the forward risks embedded in a pre-sale of property and how they affect the pricing mechanism with reference to the forward property market in Hong Kong. Preliminary study on the efficiency of the forward property market has also been conducted which shows that higher volatility is embedded in the market compared to that of the spot market.",

keywords = "Forward property market, Pre-sale property, Risks",

author = "Leung, \{Barbara Y.P.\} and Hui, \{Eddie C.M.\}",

note = "Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].; 21st Annual Conference on Association of Researchers in Construction Management, ARCOM 2005 ; Conference date: 07-09-2005 Through 09-09-2005",

year = "2005",

language = "English",

isbn = "0902896938",

volume = "1",

series = "Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference",

pages = "277--286",

booktitle = "Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference",

}

Leung, BYP & Hui, ECM 2005, Pricing of pre-sale properties with construction uncertainties. in Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference. vol. 1, Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference, vol. 1, pp. 277-286, 21st Annual Conference on Association of Researchers in Construction Management, ARCOM 2005, London, United Kingdom, 7/09/05.

Pricing of pre-sale properties with construction uncertainties. / Leung, Barbara Y.P.; Hui, Eddie C.M.
Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference. Vol. 1 2005. p. 277-286 (Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference; Vol. 1).

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

TY - GEN

T1 - Pricing of pre-sale properties with construction uncertainties

AU - Leung, Barbara Y.P.

AU - Hui, Eddie C.M.

N1 - Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].

PY - 2005

Y1 - 2005

N2 - Property developers have increasingly used forward contracts to pre-sell their properties that are under construction in order to enhance their financial viability. This practice is prevalent especially in big cities like Hong Kong in which large-scale housing developments are popular. However, limited research has been conducted to explore the specific risks involved in forward property markets compared to that of spot property markets. This research explored the forward risks embedded in a pre-sale of property and how they affect the pricing mechanism with reference to the forward property market in Hong Kong. Preliminary study on the efficiency of the forward property market has also been conducted which shows that higher volatility is embedded in the market compared to that of the spot market.

AB - Property developers have increasingly used forward contracts to pre-sell their properties that are under construction in order to enhance their financial viability. This practice is prevalent especially in big cities like Hong Kong in which large-scale housing developments are popular. However, limited research has been conducted to explore the specific risks involved in forward property markets compared to that of spot property markets. This research explored the forward risks embedded in a pre-sale of property and how they affect the pricing mechanism with reference to the forward property market in Hong Kong. Preliminary study on the efficiency of the forward property market has also been conducted which shows that higher volatility is embedded in the market compared to that of the spot market.

KW - Forward property market

KW - Pre-sale property

KW - Risks

UR - https://www.scopus.com/pages/publications/84861069872

UR - https://www.scopus.com/pages/publications/84861069872#tab=impact

M3 - RGC 32 - Refereed conference paper (with host publication)

SN - 0902896938

SN - 9780902896932

VL - 1

T3 - Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference

SP - 277

EP - 286

BT - Association of Researchers in Construction Management, ARCOM 2005 - Proceedings of the 21st Annual Conference

T2 - 21st Annual Conference on Association of Researchers in Construction Management, ARCOM 2005

Y2 - 7 September 2005 through 9 September 2005

ER -

Pricing of pre-sale properties with construction uncertainties

Abstract

Publication series

Conference

Bibliographical note

UN SDGs

Research Keywords

Other Access Options

Permanent Link

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