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Impacts of Market Sentiment on Residential Property Auction Sale

Leng, Ng Pooi and Chyuan, Wong Woei and Mei, Janice Lee Yim and Daud, Md. Nasir (2015) Impacts of Market Sentiment on Residential Property Auction Sale. In: 25th International Business Information Management Association Conference - Innovation Vision 2020: From Regional Development Sustainability to Global Economic Growth, IBIMA 2015, 7-8 May 2015, Amsterdam, Netherlands.

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Previous researches had noted the importance of market sentiment in affecting the auction outcome but empirical evidence is scarce and superficial. This study extends the previous research and provides new evidence by investigating the determinants of residential property auction sale from the aspect of market sentiment of housing and auction itself. Logit and Ordinary Least Square (OLS) regression will be used to analyze residential property auction data of Kuala Lumpur, Malaysia from 2009-2013. In Malaysia, auction sale is mainly used to sell distress properties. Although there is a significant increase of auction properties in recent years, property auction market of Malaysia still lack of discourse. Thus, it gives the reason of choosing Kuala Lumpur, the capital city of Malaysia which is active with real estate activity and excessive speculation, as the study market. The result shows that the sentiments of housing and auction have significant but opposing impacts on the auction outcome. High auction market sentiment increases the probability of auction sale, but reduced if housing market sentiment is high. This research will benefit the practitioners by helping them for the planning of buying or selling strategy.

Item Type:Conference or Workshop Item (Paper)
Uncontrolled Keywords:market sentiment, Ordinary Least Square (OLS)
Subjects:H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions:Geoinformation and Real Estate
ID Code:59313
Deposited By: Haliza Zainal
Deposited On:18 Jan 2017 01:50
Last Modified:25 Aug 2021 09:21

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