[STBI-20191018] The Role of Listing Price Strategies on the Probability of Sale for House
Topic: The Role of Listing Price Strategies on the Probability of Sale for House: Evidence in Vietnam
Presenter: Nguyen Thi Bich Hong and Truong Thanh Hiep (UEH School of Economics)
Time: 11:00 – Friday, 18 October, 2019
Venue: Room H.001, Campus H, UEH School of Economics, 1A Hoang Dieu, Phu Nhuan District, Ho Chi Minh City
Abstract: The aim of this paper is to measure the dynamic effects of listing price strategies and housing features on the probability of sale of a house based on listing periods, by applying the Cox Probability Hazard Model for listing time in 1 month, 3 months, 6 months and 9 months of 448 transactions from the housing survey conducted in Ho Chi Minh City from September 2017 to May 2018.
The impact of the overprice listing strategy is found to be significant on the probability of sale in the first 30 days of listing time. The effect decreases and becomes ineffective when the listing duration exceeds 180 days. This shows that the first 30 listing days are very important and housing liquidity is affected strongly by selling strategies of seller. If the time on market is over 30 days, the power of sellers on housing liquidity will be restricted.
About the presenter: Nguyen Thi Bich Hong and Truong Thanh Hiep are lecturers at the UEH School of Economics. Both Hong and Hiep graduated from the Vietnam – Netherlands Programme for Training the Master in Development and Applied Economics. Their research interested are Real Estate Economics, Personnel Economics and Behavioral Economics.