2024 Volume 89 Issue 819 Pages 907-916
Based on the expressed preference data of condominium buyers and inverse probability weight, this study examined the influence of their perceptions of the state of maintenance on internal reference prices. According to the findings, maintaining good maintenance conditions not only increases the aspiration prices of buyers, but it also increases the lower limit of price negotiations. Meanwhile, in the price judgment process, buyers who perceive that the state of maintenance and management is good tend to carefully search for properties. We also found that it is important to raise awareness regarding the appropriateness of purchase prices.
