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Title: | PRICING AND TIME-ON-MARKET IN NEW CONDOMINIUM PROJECTS | Authors: | THAM YI HUA | Issue Date: | 2005 | Citation: | THAM YI HUA (2005). PRICING AND TIME-ON-MARKET IN NEW CONDOMINIUM PROJECTS. ScholarBank@NUS Repository. | Abstract: | This study seeks to examine the function of list prices in the sale of new condominium units with emphasis on the effects of list price and other pertinent factors on marketing duration (time-on-market = TOM). In addition, the issue of pricing is further discussed in terms of price discounts given off the list price as well as the designs of list prices. The determinants of price discounts are examined and the effects of list price designs on the transacted price are discussed. The empirical analysis reveals that overpricing lengthens the TOM, while the use of a particular type of list price design called charm pricing shortens the TOM. Furthermore, macroeconomic factors, as well as the number of units launched in the same phase, the tenure of the project and the duration between the contract date and the TOP date prove to be important determinants of TOM. On the aspect of price discounts, it is found that the use of charm pricing contributes to lower discounts. Lastly, the study on the effects of list price designs on transacted prices reveals that developers may benefit from higher transacted prices by carefully considering suitable list price designs for each of their projects. The results also reveal that the effects of specific list price endings on transacted prices vary across list price levels. | URI: | https://scholarbank.nus.edu.sg/handle/10635/231710 |
Appears in Collections: | Bachelor's Theses |
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