Research and Publications by Dr. Bond

Dr Sandy Bond has published her research in over 30 articles for both national and international property journals and presented her research at conferences worldwide. The following list includes only her most recent articles published and conferences attended. Articles by other authors are included that refer to research conducted about Feng Shui. (i) Book Chapters Bond, S.G. (2002). "Do Market Perceptions Affect Market Prices? A Case of a Remediated Contaminated Site", in Real Estate Valuation Theory, eds K. Wang and M.L.Wolverton, Kluwer Academic Publishers, Boston, Vol. 8, pp. 285-321.

Kinnard, W.N., Worzala, E.M., Bond, S.G. & Kennedy, P.J (2002). "Comparative Studies of United States, United Kingdom and New Zealand Appraisal Practice: Valuing Contaminated Commercial Real Estate", in Real Estate Valuation Theory, eds K. Wang and M.L.Wolverton, Kluwer Academic Publishers, Boston, Vol. 8, pp. 201-226.

(ii) Refereed Journal Articles

Bond, S.G. (2010). “Community Perceptions of Wind Farm Development and the Property Value Impacts of Siting Decisions?” Pacific Rim Property Research Journal, Vol. 16, No.1. pp.52-69

Bond, S.G. (2008). “The Impact of Feng Shui on Residential Property Prices in Western Cultures”, Journal of International Housing Markets and Analysis, vol. 1, no.1, pp. 81-101.

(iii) Conference Presentations

2010 Bond, S.G. “Drivers and barriers to sustainable development in Australia”, American Rim Real Estate Society Conference, 14-17th April, Naples, Florida.  Bond, S.G. “Best of the Best in Green Design: Drivers and barriers to sustainable development in Australia”, Pacific Rim Real Estate Society Conference, 23-27th January, Wellington, New Zealand

2009

Bond, S.G. "A Tale of Two Windy Cities: Public Attitudes Towards Wind Farm Development", Pacific Rim Real Estate Society Conference, 18-22nd January, Sydney.

 2008

Bond, S. G. “Attitudes towards the development of Wind Farms in Australia”, 17th Annual AREUEA International Conference, 4-8 July, Istanbul, Turkey.

Bond, S. G. “The Impact of Feng Shui on Condominium Prices”, Pacific Rim Real Estate Society Conference, 20-23^rd January, Kuala Lumpur, Malaysia.

2007

Bond, S. G. “The Impact of Feng Shui on Residential Property Prices in the West”, European Real Estate Society, 29-30th June, London, UK.

2006

Bond, S.G. and Squires, L. “Using GIS to Measure the Impact of Distance to Cell Phone Towers on House Prices in Florida”, American Real Estate Society Conference, April 19-22, Key West Florida.

 Feng Shui Research

The current literature shows that the hedonic pricing model from economic theory has been used extensively to study the attributes affecting the price of property. Such attributes include land area, floor area, number of bedrooms, garaging, air conditioning, age of the building, etc. The hedonic price approach employs multiple regression analysis in order to estimate the implicit prices of each property attribute. Hence, the price of a property is the sum of the implicit prices for each of its attributes. The hedonic price model has also been employed in the study of the influence of feng shui on housing prices. For example, apartments with lucky floor numbers (e.g. numbers 8, 1, and 6)

have been found to be sold at significantly higher prices, compared to those with unlucky numbers such as 5. The following two articles report this research:

Bond, S.G. (2008). “The Impact of Feng Shui on Residential Property Prices in Western Cultures”, Journal of International Housing Markets and Analysis, vol. 1, no.1, pp. 81-101.

Bourassa, S.C. and Peng, V.S. (1999). “Hedonic Prices and House Numbers: The Influence of Feng Shui”, International Real Estate Review, Vol.2, No.1, pp.79-94.

Chau, K.W., Ma, V.S.M. and Ho, D.C.W. (2001). “The pricing of “luckiness” in the apartment market”. Journal of Real Estate Literature, Vol. 9, No.1, pp. 31-40.

The hedonic price model was also employed to study a number of feng shui-related property attributes, including views of a cemetery, to see what impact this has on prices. It was found that a view of a cemetery had a negative and pronounced impact on price. The following two articles report this research:

Tung-Leong Chin, Chau, K.W., Ng, F.F. (2004). “The impact of the Asian Financial Crisis on the Pricing of Condominiums in Malaysia ”, Journal of Real Estate Literature, Vol.12, Iss.1, pp.33-50.

Tse, R.Y.C, and Love, P.E.D (2000). “Measuring residential property values in Hong Kong ”, Property Management, Vol. 18, Iss. 5, pp. 366 - 375.

A paper was presented at an academic conference that investigated the effect that the bad feng shui of a murder has on the price of the property where the murder was committed. The results showed that not only were the property prices of the incident apartments negatively affected, but the negative impact also extended to nearby apartments. After the murder cases were revealed to the public, the price levels of all the units within the same building of the incident property declined. The magnitude of this negative effect is directly related to distance from the incident property. The effect diminishes as the distance, both horizontal and vertical, increases. Refer to the full results in:

Chau, K.W. (2002). “Murders, externalities, and market efficienciy – empirical evidence from Hong Kong ”, Seventh Annual Pacific Rim Real Estate Society Conference, Christchurch, New Zealand, January 21-23.

The following paper, aimed at the readership of project designers, discusses the importance of taking cultural considerations into account before embarking on design commissions for people of a different culture.

Egger, S. (2000). “When heaven and earth collide: cultural considerations in project design”, Australian Property Journal, August, pp.195-200.