Time On-market and Price Trade-offs in High-rise Housing Sub-markets

Bibliographic Data

ID10858992
AuthorsSeow Eng Ong (0000-0003-2636-1202, National University of Singapore, corresponding author), Yen Ching Koh (National University of Singapore)
Year2000
Volume37
Issue11
Pages2057-2071
Publication date2000-10-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueUrban Studies (JOURNAL)
Journal identifiersISSN: 0042-0980 • E-ISSN: 1360-063X
PublisherSAGE Publications (PUBLISHER • US)
DOI10.1080/713707223
OpenAlexW2098046590
LanguageEN
Citations received10
References cited20

This paper provides the first analytical study of the relationship between list price and time on-market (TOM) for high-rise public housing flats stratified by sub-markets in terms of geographical region and property type. In addition, the effects of macroeconomic variables pertinent to the price discovery process for property markets are analysed. By using data from single listings with one major agency firm to control for brokerage effects, the results obtained in this study are robust to incentive factors arising from firm size, number of listings, commission structure and incentive measures. The key results are that floor level affects the relationship between pricing and TOM, and variations in determinants of TOM exist across sub-markets. Moreover, TOM is influenced by price movements in both the public and private housing markets, as well as by individual agent effort

Agency (philosophy · Business · Commission · Economics · Financial economics · Incentive · Microeconomics · Monetary economics · Price discovery · Auction Theory and Applications · Finance · Housing Market and Economics · Urban Planning and Valuation

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