Abstract
Sales price closely correlates with the market price of neighboring apartment-housing units, which reflects the real transaction price. In addition, sales price is dependent on goods including the apartment′s location, environment, traffic, residential conditions and housing characteristics. Studies on the sales price of apartment housing units mostly estimate the price in regard to the market price, the cost to build the apartments or a combination of both. Currently, there are studies in progress analyzing the factors that impact the sales price and the importance of purchase decision factors of consumers. However, the purchase decision factors of consumers and their importance are always changing. Thus, a sales price decision model that can account for the dynamic nature of purchase decision factors and market price is needed. In this regard, the purpose of this paper is to develop a feasible sales price decision model of apartment housing units considering market price and buying power. This model can be used as a decision-making tool in the initial phases of a project to help contractors′ achieve a reasonable sales price and improve their successes with apartment housing projects.
