A Study of First-Time Homebuyers

Patrabansh, Saty

doi:10.2139/ssrn.2533963

SSRN Journal

2013

DOI: 10.2139/ssrn.2533963

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A Study of First-Time Homebuyers

Saty Patrabansh¹

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Heterogonous buyers and housing transaction prices: a case study of Guangzhou, China

Jia

2022

J Hous and the Built Environ

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We investigate whether and the extent to which buyer’s characteristics affect housing transaction prices. Using the transaction data of existing apartments from 2014 to 2017 in Guangzhou, China, our results show that buyer’s locality, motivation and financial ability affect the transaction prices. Non-local buyers pay a premium. First-time buyers gain a discount. Experienced repeat buyers for upgrading pay a premium. We also find that buyer’s financial ability affects purchasing power and transaction prices. The buyers paying the acquisition with mortgage gain a higher discount or pay a lower premium than their counterparts paying in cash. Internet use itself won’t affect transaction price. When it is combined with buyer’s other characteristics, the buyers using the internet to obtain the property information have an information advantage over the ones using the traditional method and gain a higher discount or pay a lower premium than their counterparts using the traditional method, especially for the non-local. This finding is important for market participants and regulators to improve market efficiency and transparency by improving the accuracy of the information disclosed on the Internet.

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Heterogonous buyers and housing transaction prices: a case study of Guangzhou, China

Jia

2022

J Hous and the Built Environ

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Retail motor gasoline prices and the interest rate on mortgage loans

Gill

2024

Euro Fin Management

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A significant negative relationship exists between the price of retail motor gasoline and the interest rate on mortgage loans. Prospective homeowners avoid purchasing a mortgage‐financed home in areas where gasoline prices are rising to avoid endangering their future mortgage payments due to the greater cost of motor fuel consumption. The passage of government regulations and incentives aimed at increasing either the demand for or supply of alternative fuels, lowering the cost for gasoline customers to switch to alternative fuels, lessens the negative impact of gasoline prices on the cost of mortgage credit. Public transit mitigates the negative gasoline price impact.

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A Study of First-Time Homebuyers

Cited by 2 publications

References 0 publications

Heterogonous buyers and housing transaction prices: a case study of Guangzhou, China

Heterogonous buyers and housing transaction prices: a case study of Guangzhou, China

Retail motor gasoline prices and the interest rate on mortgage loans

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