A COMPREHENSIVE STUDY OF THE SALES PRICES, RENTALS AND YIELDS OF THE PRIVATE RESIDENTIAL PROPERTY MARKET

Abstract

This dissertation incorporates a comprehensive study of the three important aspects of the private residential property market, namely, sales prices, rentals and yields. The trends for condominium apartments, flats, detached, semi-detached and terrace houses are individually established to facilitate the analysis of all three aspects characteristic to each submarkets (also called locality). The general finding is that the disparities in prices, rentals and yields among the various localities are primarily due to locational influence. Other more important factors are the type of property, standard of design, availability of facilities and the number of bedrooms and bathrooms while the influence of net floor area, land area and age of a property on prices and rentals is less obvious. Nevertheless, the study of the influence of each individual factor on prices, rentals and yields separately has led to some interesting findings as well as a better understanding of how the underlying factors affect prices, rentals and yields.