A hedonic price model for private properties in Hong Kong

Mok, Henry; Chan, Patrick P. K.; Cho, Yiu-Sun

doi:10.1007/bf01099610

Cited by 150 publications

(126 citation statements)

References 12 publications

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“…Precisely, Butler (1982) suggests inclusion of just those attributes having production costs and generating variations in consumer utility. Meanwhile, Mok et al (1995) find that the bias due to the omission of attributes is small once the most important characteristics, which are usually available, are included in the model specification.…”

Section: Hedonic Theorymentioning

confidence: 99%

Are innovations relevant for consumers in the hospitality industry? A hedonic approach for Cuban hotels

et al. 2016

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Abstract:This paper evaluates the impact of innovative activity in the hotel industry on the willingness to pay by consumers. To this end we estimate a hedonic price function where innovation is identified indirectly through certain attributes. The contrast is performed on a representative sample of Cuban hotels considering a large number of attributes of hotels and rooms. To solve the usual problems of collinearity an original procedure is developed. The results highlight the importance of the attributes linked to innovation and internationalization on the price of the rooms of Cuban hotels.Keywords: Innovation, Hospitality industry, Prices, hedonic pricing method. ¿ES RELEVANTE LA INNOVACIÓN PARA LOS CLIENTES EN LA INDUSTRIA HOTELERA? UN ENFOQUE HEDÓNICO PARA LOS HOTELES CUBANOS Resumen:Este trabajo evalúa el impacto de la actividad innovadora en la industria hotelera sobre la disposición a pagar por los consumidores. Con este objetivo se estima una función hedónica de precios donde las innovaciones se identifican indirectamente a través de ciertos atributos de los hoteles. El contraste se realiza sobre una muestra representativa de hoteles cubanos considerando un número importante de atributos de los hoteles y de las habitaciones. Para solventar el problema habitual de colinealidad en este contexto, se desarrolla un procedimiento original. Los resultados ponen de manifiesto la importancia de los atributos ligados a la innovación e internacionalización sobre el precio de las habitaciones de los hoteles cubanos.

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Section: Hedonic Theorymentioning

confidence: 99%

Are innovations relevant for consumers in the hospitality industry? A hedonic approach for Cuban hotels

et al. 2016

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“…The empirical evidence also indicates that buyers have been found to value physical/structural attributes of the residential property such as floor size (Mok et al, 1995), the number of rooms, bedrooms and bathrooms (Fletcher et al, 2000), floor level (Conroy et al, 2013), building age (Clapp and Giaccotto, 1998) and garage (Forrest and Ward, 1996). In the case of condominiums, attributes such as sports and recreational facilities (tennis court, gymnasium, swimming pool and sauna), security, parking space and developer's reputation are positively valued by the buyers (Abu Zharin and Bujang, 1999).…”

Section: Prior Empirical Findingsmentioning

confidence: 99%

Does Accessibility to the Central Business District (CBD) Have an Impact on High-Rise Condominium Price Gradient in Kuala Lumpur, Malaysia?

Dziauddin¹,

Misran²

2016

SHS Web of Conferences

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This paper uses a spatial econometric method known as Geographically Weighted Regression (GWR) to investigate the impact of accessibility to the CBD on the high-rise condominium price gradient in Kuala Lumpur, Malaysia. Using a GWR method, after having controlled other factors, this study clearly reveal the impact of accessibility to the CBD on high-rise condominium varying prices across the study area, having a much larger positive impact in some areas but less and counterintuitive impact in others. In general, the results from this study show accessibility to the CBD measured by the travel times does affect high-rise condominium prices (high-rise condominium prices decrease as travel times to the CBD increase) in most part of the areas, hence proved Alonso, Muth and Mills were still right.

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“…Their presence in the model is indispensible because these attributes were found to be significant determinants of property prices, particularly in Hong Kong's multi-storey resi- Does comprehensive redevelopment change the housing price gradient? A case study in Mongkok, Hong Kong dential buildings (e.g., Mok, 1995;So et al, 1997;Tse & Love, 2000;Chau et al, 2001;Wong et al, 2011). Otherwise, model misspecification will result because of the omission of these key variables from the empirical model.…”

Section: Wherementioning

confidence: 99%

Does comprehensive redevelopment change the housing price gradient? A case study in Mongkok, Hong Kong

Yau¹

2011

Urbani izziv

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A hedonic price model for private properties in Hong Kong

Cited by 150 publications

References 12 publications

Are innovations relevant for consumers in the hospitality industry? A hedonic approach for Cuban hotels

Are innovations relevant for consumers in the hospitality industry? A hedonic approach for Cuban hotels

Does Accessibility to the Central Business District (CBD) Have an Impact on High-Rise Condominium Price Gradient in Kuala Lumpur, Malaysia?

Does comprehensive redevelopment change the housing price gradient? A case study in Mongkok, Hong Kong

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