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

doi:10.1177/0042098015572317

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 Publications and Reviews › RGC 21 - Publication in refereed journal › peer-review

17 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. © 2015, © Urban Studies Journal Limited 2015.

Original language	English
Pages (from-to)	1203-1224
Journal	Urban Studies
Volume	53
Issue number	6
DOIs	https://doi.org/10.1177/0042098015572317
Publication status	Published - 1 May 2016
Externally published	Yes

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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].

Research Keywords

competitive intensity
Hedonic Model
presale
residential markets
Spatial Temporal Model

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10.1177/0042098015572317

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title = "The roles of developer{\textquoteright}s status and competitive intensity in presale pricing in a residential market: A study of the spatio-temporal model in Hangzhou, China",

abstract = "This study investigates the roles of developer{\textquoteright}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{\textquoteright}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. {\textcopyright} 2015, {\textcopyright} Urban Studies Journal Limited 2015.",

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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. / Hui, Eddie Chi Man; Liang, Cong; Wang, Ziyou et al.
In: Urban Studies, Vol. 53, No. 6, 01.05.2016, p. 1203-1224.

Research output: Journal Publications and Reviews › RGC 21 - Publication in refereed journal › peer-review

TY - JOUR

T1 - The roles of developer’s status and competitive intensity in presale pricing in a residential market

T2 - A study of the spatio-temporal model in Hangzhou, China

AU - Hui, Eddie Chi Man

AU - Liang, Cong

AU - Wang, Ziyou

AU - Wang, Yuan

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 - 2016/5/1

Y1 - 2016/5/1

N2 - 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. © 2015, © Urban Studies Journal Limited 2015.

AB - 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. © 2015, © Urban Studies Journal Limited 2015.

KW - competitive intensity

KW - Hedonic Model

KW - presale

KW - residential markets

KW - Spatial Temporal Model

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UR - https://www.scopus.com/pages/publications/84962158817#tab=impact

U2 - 10.1177/0042098015572317

DO - 10.1177/0042098015572317

M3 - RGC 21 - Publication in refereed journal

SN - 0042-0980

VL - 53

SP - 1203

EP - 1224

JO - Urban Studies

JF - Urban Studies

IS - 6

ER -

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

Abstract

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