دانلود رایگان مقاله انگلیسی قیمت خانه و خرافات در میان چینی های بومی و خریداران خانه غیر چینی در آوکلند، نیوزلند - امرالد 2017

Abstract

Purpose – Numerical superstition is well-known in Asian countries and can influence decision-making in many markets, from financial investment to purchasing a house. This study aims to determine the house price effects of superstition and understand if these have changed over time. Design/methodology/approach – Using sales transactions of freestanding houses in Auckland, New Zealand, the authors use hedonic price analysis to investigate whether superstitious beliefs associated with lucky and unlucky house numbers affect property values. Findings – The analysis reveals ethnic Chinese buyers in Auckland displayed superstitious home buying behaviour in the period 2003-2006 by attributing value to homes with street addresses starting or ending with the lucky number eight. However, this willing to pay higher prices for lucky numbers was not reflected in the analysis of 2011-2015 sales transactions. The disappearance of superstition price effects may indicate that ethnic Chinese in the Auckland housing market have, over time, assimilated New Zealand’s Western culture and have become less superstitious. Originality/value – Unlike previous studies, the authors parse buyers into two populations of homebuyers, ethnic Chinese and non-Chinese purchasers, and model the two groups’ housing transactions independently to more accurately establish if numerical superstition influences house prices.

Conclusions

This study aims to determine if ethnic Chinese homebuyers attribute value to lucky and unlucky property addresses in the Auckland housing market. The capitalisation of lucky number “8” and unlucky “4” into house prices due to numeric superstition has been documented in several international markets, including Auckland. Unlike previous studies, the present research uses a novel method to distinguish a particular superstition-prone group, ethnic Chinese, from a pool of homebuyers. By segmenting the sales data between affected and non-affected (control) subpopulations of buyers, a more accurate measure of buyer preferences, such as numeric superstition, is possible.

The findings of this study have uncovered a number of interesting differences between ethnic Chinese and non-Chinese homebuyers, including different affinities for features such as in-ground swimming pools, access to good schools, home vintages and, of course, numeric superstition. Although distinct differences exist between these two groups, the gulf appears to have lessened over time. In particular, ethnic Chinese had in the earlier sales data (2003-2006) placed discounts on older vintage homes, whereas in more recent years (2011- 2015), ethnic Chinese buyers do not assign price premiums to these older homes above the value of an equivalent recently purchased home. The price premiums remain less than their non-Chinese counterparts but provide an indication that these groups’ preferences are becoming more similar over time.