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., Beamish, K., Wang, K. (2005). “The Impact on House Prices of Siting Cell Phone Towers in Residential Neighborhoods: A New Zealand Case Study”, The Appraisal Journal.

Bond, S.G. and Cook, D. (2004). “Residents' Perceptions towards Asbestos Contamination of Land and its Impact on Residential Property Values”, Pacific Rim Property Research Journal, Vol. 10, No.3, pp.328-352.

Bond, S.G. & Hopkins, J. (2000)."The Impact of Transmission Lines on Residential Property Values: Results of a Case Study in a Suburb of Wellington, New Zealand ". Pacific Rim Property Research Journal, Vol.6, No. 2, pp.52-60.

(iii) Conference Presentations

2005 Bond, S.G. and Xue, J. (2005). “ Cell Phone Tower Proximity Impacts on House Prices: A New Zealand Case Study”, European Real Estate Society and International Real Estate Society Conference, June 15-18, Dublin, Ireland.

2004

Bond, S.G. and Wang, K. (2004). “The Siting of Cell Phone Towers in Residential Neighborhoods: Do Home-owners Care?” American Real Estate and Urban Economics Association International Real Estate Conference, July 29-31, Fredericton, New Brunswick, Canada.

Bond S.G., Sakornvanasak, P., (2004). “The Assessment of Current Valuation Practices as Applied to Local Authority Infrastructural Assets,” Pacific Rim Real Estate Society Conference, January 25-27, Bangkok, Thailand.

2003

Bond, S.G., McMahon, N., Beamish, K. (2003). “Do Cellular Phone Base Station Towers Affect Residential Property Values?” European Real Estate Society Conference, June 10-13, Helsinki, Finland.

Bond, S.G (2003). “Challenges Confronting Property Valuation Practitioners in Australasia ”, Pacific Rim Real Estate Society Conference, January 19-22, Brisbane, Australia.

2001

Bond, S.G. (2001). “The Importance of Property Attributes From the Buyers Perspective: A case study of remediated contaminated land”. AREUEA's Tenth Annual International Real Estate Conference, Cancun, Mexico, May 6-8.

Bond, S.G. (2001). "Conjoint Analysis: Assessing Buyer Preferences for Property Attributes to Assist with the Estimation of Land Contamination Stigma". The Seventh Pacific-Rim Real Estate Society Conference. Adelaide, Australia 21-24 January. This paper won the “Best Conference Paper Award”.

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:

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.