The housing market in Beijing and delays in sales: a fractional polynomial survival model

Resumen:
This paper analyzes housing sales delay in Beijing, China. In the housing market, new properties sometimes experience delays before they are sold. Such delays reflect the preferences of buyers with regard to the characteristics of the housing. Therefore, it is important for managerial purposes to identify the causes of housing sales delays. It is concluded that delays are largely explained by the dwellings' characteristics and location. Policy implications of the research findings, particularly those related to means of shortening the delays, are discussed.