Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/15124
Title: Price dynamics and turnovers: Evidence from Singapore condominium market
Authors: HAN YINGHUA
Keywords: Turnover Probability, Price Dynamics, Price Expectation, Submarket, Price-volume relationship, Occupancy Duration
Issue Date: 21-Dec-2005
Source: HAN YINGHUA (2005-12-21). Price dynamics and turnovers: Evidence from Singapore condominium market. ScholarBank@NUS Repository.
Abstract: Turnovers of existing homes dominate housing transactions in housing market, which generates some research on turnover pattern. But the direct study of the effect of price dynamics on turnover probability of housing units is limited. This research conducts a duration analysis against a transaction database in Singapore condominium market to estimate turnover probability. 2PSTAR model with Heckman Procedure are used to estimate housing prices. The estimated results indicate that price appreciation has positive effect on turnover probability, while the effect of price depreciation is negative. The effect is asymmetric and rises with the magnitude of housing price changes. Turnover probability varies across housing submarkets. The empirical findings provide micro evidence to explain the positive price-volume relationship in housing market and can be explained by the theories proposed in the previous mobility and time-on-market studies.
URI: http://scholarbank.nus.edu.sg/handle/10635/15124
Appears in Collections:Master's Theses (Open)

Show full item record
Files in This Item:
File Description SizeFormatAccess SettingsVersion 
HanYH.pdf1.41 MBAdobe PDF

OPEN

NoneView/Download

Page view(s)

289
checked on Dec 11, 2017

Download(s)

239
checked on Dec 11, 2017

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.