NDLI: A pricing approach to enhance the adaptability and accuracy of real estate price: An empirical study

Content Provider	IEEE Xplore Digital Library
Author	Zhang Qing-hua Cheng Bin-Wu Peng Xv
Copyright Year	2010
Description	Author affiliation: Management School, Wuhan University of Technology, P.R. China, 430070 (Zhang Qing-hua; Cheng Bin-Wu; Peng Xv)
Abstract	Real estate market is a complex system. As an important part of it, the determination of price relates to the developers' investment $income^{[1]}.$ Therefore, how to scientifically determine the selling price of real estate projects is that all developers have to face, as well as the problem that customers widespread concerned. In this study, we described several key models in current market and analyzed the limitations of each model. Then we made an empirical study of customers' behavior in Wuhan city, with which we put forward several dimensions which have the greatest impact on the project properties for sale. Then we determined the weights by using the AHP. In addition, we made a data analysis and evaluation about the questionnaire data through statistical software econometric Eviews 3.1. Based on which, we obtained the estimates of the economic model. Finally, we draw the relevant price function and determined the appropriate market position or price range. This not only opens up new pricing models for real estate developers, but also facilitates the promotion of efficient use.
Starting Page	1638
Ending Page	1645
File Size	102103
Page Count	8
File Format	PDF
ISBN	9781424481163
ISSN	21551855
e-ISBN	9781424481194
DOI	10.1109/ICMSE.2010.5720002
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2010-11-24
Publisher Place	Australia
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Industries Economics Analytical models econometrics Biological system modeling Investments price Pricing real estate AHP Marketing and sales
Content Type	Text
Resource Type	Article

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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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