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BUYER'S WILLINGNESS TO PAY FOR DWELLINGS WITH DIFFERENT ORIENTATIONS
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Building and Real Estate Economics. KTH Royal Inst Technol, Dept Real Estate & Construct Management, Div Bldg & Real Estate Econ, Tekn Ringen 10B,5th Floor, S-10044 Stockholm, Sweden..ORCID iD: 0000-0003-4849-0726
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Building and Real Estate Economics.ORCID iD: 0000-0002-9944-0510
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Building and Real Estate Economics.
2019 (English)In: International Journal of Strategic Property Management, ISSN 1648-715X, E-ISSN 1648-9179, Vol. 23, no 6, p. 450-466Article in journal (Refereed) Published
Abstract [en]

This paper applies spatial hedonic econometric models to estimate the willingness of buyers to pay for dwellings with different orientations based on a data set comprising 63 306 transactions of secondhand apartment sales in 10 districts in Beijing from October 2011 to September 2014. Our results indicate that apartments with South orientation are sold at a 7.8% premium compared with those with West orientation, and that apartments in ancient city areas are more sensitive to orientation. The obtained results can help architects and developers to maximize the value of development projects by optimizing the layout of apartment units on each floor.

Place, publisher, year, edition, pages
VILNIUS GEDIMINAS TECH UNIV , 2019. Vol. 23, no 6, p. 450-466
Keywords [en]
residential market, Beijing, spatial Durbin model, orientations, hedonic regression
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:kth:diva-262999DOI: 10.3846/ijspm.2019.10430ISI: 000489752100007Scopus ID: 2-s2.0-85082547493OAI: oai:DiVA.org:kth-262999DiVA, id: diva2:1366893
Note

QC 20191031

Available from: 2019-10-31 Created: 2019-10-31 Last updated: 2020-05-11Bibliographically approved

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Han-Suck, SongWilhelmsson, MatsZheng, Mo

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