Download or read book An Empirical Study on the Effects of Land Policy on Industrial Property Prices and Rental Yields in Hong Kong written by Chun-Hin So and published by . This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "An Empirical Study on the Effects of Land Policy on Industrial Property Prices and Rental Yields in Hong Kong" by Chun-hin, So, 蘇振顯, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: The rapid restructuring of Hong Kong''s economy as a result of China''s economic reform and open door policy since the late 70s, has led to major shifts in the demand and supply of industrial buildings. These shifts resulted in misallocation of land resources due to various institutional constraints. The land use policies in Hong Kong have been changing since the late 80s in response to such misallocation. This study investigates the impact of these policies on prices and rental yields of industrial properties in Hong Kong. In addition, the impact of economic restructuring on the determinants of industry propel1y prices is also examined. The open door policy has attracted many industrialists to move their production base across the border to take advantage of the low land and labour costs leaving their industrial buildings in Hong Kong underutilized. Due to statutory zoning and restrictions in the land leases, redeveloping these industrial buildings for other uses is difficult and costly due to multiple ownership and high modification premium. However lease enforcement actions on industrial buildings are difficult and ineffective. The owners of industrial buildings will weigh the costs against the benefits of non-conforming use and decide whether they will leave their industry properties underutilized, use them for non-conforming uses, apply for change of use and pay associated fees / premiums or proceed with a combination of all these. The empirical results in this study suggest that the benefits outweigh the costs of non-conforming uses of industrial buildings, in particular for office uses. This is evidenced by the fact that industrial property prices were affected not only by the demand for spaces for industrial production but also by other demand drivers not related to the industrial productions in Hong Kong. These demand drivers included volume of re-export and service sector employment. These are demand drivers given the term Non-Industrial-Production Demand Drivers (NIPDD) in this study. Service sector employment is an office demand driver and that office use in industrial buildings is usually the highest valued non-conforming use, therefore the correlation between service sector and industrial property prices is an indicator of the intensity of non-conforming uses. Since the late 80''s, various changes in government policies toward industrial land use have been implemented with the aim to rectify land resource misallocation. These policy changes can be classified into (1) Planning Control Relaxation: changes that involve relaxation of planning control on redevelopment or conversion of existing industrial properties to other uses, which may involve rezoning of some industrial areas and (2) Use Restriction Change: changes that permit more types of uses in existing industrial properties with or without paying a premium or fee. The empirical results in this study suggest that, other things being equal, Planning Control Relaxation has a positive impact on industrial property prices while Use Restriction Change have strengthened or weakened the impact of service sector employment on industrial property prices depending on the nature of the policy change. In addition, empirical analysis also showed that only the Planning Control Relaxation could reduce the rental yield of industrial property by reducing the risk premium. The effect

Download or read book An Empirical Study on the Effects of Land Policy on Industrial Property Prices and Rental Yields in Hong Kong written by 蘇振顯 and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Effects of Land Policies and Development Strategies on Housing written by Shu Wang and published by . This book was released on 2015 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this thesis is to investigate the effects of land supply on housing prices in Hong Kong. Studies will be carried out to define whether there are any correlation between land supply, housing supply and residential property prices. In order to better understand Hong Kong's housing market, this study will first present a background of establishment of Hong Kong's land tenure system, land administration system and the government's land sale process, while trying to answer the question of whether the perceived shortage in housing supply is a direct consequence of the shortage in government's land supply. The study then examines the concentration of market shares among a handful of developers and the high barrier to entry that have resulted in such anti-competitive environment. The study analyzes the leading developers' competitive advantages in terms of land bank and financial strength, and their housing supply strategies in relation to the government's land supply decisions. This paper will then insert the theoretical findings into realistic settings of Hong Kong's housing development industry, and apply the methodology of event study to detect the impact of real estate companies' development strategies and how it alters the perceived relationship between the supply of land and the supply of housing. By simultaneously considering the effects of development strategies with government land policies, the paper aims to better evaluate governments measure to regulate housing market and hope to recommend more effective policies on residential land supply in Hong Kong.

Download or read book Determinants of Property Prices in Hong Kong SAR written by Mr.R. Sean Craig and published by International Monetary Fund. This book was released on 2011-11-01 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses an econometric model of residential property prices in Hong Kong SAR to assess the effectiveness of alternative policies in slowing the increase in property prices. The rapid rise in property prices is well explained by macroconomic fundamentals; real GDP per capital, real domestic credit, construction costs, land supply, and the real interest rate. Policy can influence the property market though land supply and prudential and tax policy, with the latter policies taking the form of a stamp duty on property transactions and a tighter loan-to-value ratio (LTV) on lending. Land supply is the most effective policy insturment for restraining property price increases but it operates with a significant lag. The LTV and stamp duty dampen speculative activity that drives up property prices. While these policies can slow the increase in the short run, they should be guided by their long run objectives of financial stability and counteracting speculation.

Download or read book An Empirical Study on the Effects of the Cross Boundary Infrastructureon Property Market in Hong Kong written by Distinction Chan and published by Open Dissertation Press. This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "An Empirical Study on the Effects of the Cross-boundary Infrastructureon Property Market in Hong Kong" by Distinction, Chan, 陳江瑋, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: While regional infrastructures are being actively pursued by the Hong Kong governments in recent years, the impacts brought by the cross-boundary infrastructures have not been comprehensively scrutinized. This study is aimed to fill in the research gap by examining the interrelationships between regional planning, transport planning and real estate economics. As concerns on accessibility and transport convenience are key factors determining the price of a flat, transport improvements made to the residential area should lead to an increase in residential property prices. On the other hand, as regional infrastructures are often justified with their impacts in fostering further economic development, retail rental prices in the service coverage areas should experience positive impacts. Therefore, changes in price gradient of residential properties, and that in transaction prices of commercial properties will be both taken into consideration in understanding the impacts of regional infrastructures. When examining these impacts, an additional dimension will be incorporated to investigate the impacts across the initial stage, planning stage, post-feasibility stage, construction stage as well as the post-project completion stage of the projects. Hedonic pricing models will be applied in this study for assessment. The empirical case will focus on the Hong Kong-Shenzhen Western Corridor (SWC) project and the associated areas of Tin Shui Wai, Yuen Long and Tusen Wan, to obtain the relevant data to understand the interrelationships across the different stages of the SWC project. In the research finding, as far as residential property sales are concerned, it is observed that a general decrease in property prices has been experienced from the commencement of the SWC, as a result of the combination of factors such as construction pollution and catchment problems. While for the retail rental prices within the study scope, a contrasting uprising trend has been instead generally observed, attributed to the differences in the accessibility to the areas and the availability of business opportunities experienced in the focus area during the various stages of the project. The empirical results reveal that cross-boundary cooperation in coordinating time of infrastructural project completion is exceptionally crucial. If the coordination of the infrastructures bridging the two sides of the borders are not coordinated well, the problem of SWC in the early stage of commissioning will happen again, causing the unavailability for areas connected to the border to enjoy the business opportunities, economic and spatial efficiency in the area. Also, the residential property prices may even be driven down by the cross-boundary infrastructure, which is considered to be strategic in fostering economic development and enhancing transport efficiency upon regional integration of the Pearl River Delta cities. Therefore, careful planning and regional coordination are needed to enhance the efficiency of the cross-boundary infrastructure, so as to achieve its objectives to facilitate economic growth, social harmony and environmental sustainability. DOI: 10.5353/th_b4988480 Subjects: Infrastructure (Economics) - China - Hong Kong Real property - China - Hong Kong

Download or read book The Economic Roots of the Umbrella Movement in Hong Kong written by Louis Augustin-Jean and published by Routledge. This book was released on 2018-02-15 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the autumn of 2014, thousands of people, young and educated in their majority, occupied the chief business district and seat of the government in Hong Kong. The protest, known as the Umbrella Movement, called for ‘genuine democracy’, as well as a fairer social and economic system. The book aims to provide a dynamic framework to explain why socioeconomic forces converged to produce such a situation. Examining increasing inequality, rising prices and stagnating incomes, it stresses the role of economic and social factors, as opposed to the domestic political and constitutional issues often assumed to be the root cause behind the protests. It first argues that globalization and the increasing influence of China’s economy in Hong Kong has weighted on salaries. Second, it shows that the oligopolistic nature of the local economy has generated rents, which have reinforced inequality. The book demonstrates that the younger generation, which is still finding its place in society, has been particularly affected by these phenomena, especially with social mobility at a low point. Offering a new approach to studying the Umbrella Movement, this book will appeal to students and scholars interested in Hong Kong's political landscape, as well Chinese politics more broadly.

Download or read book Understanding and Implementing Sustainable Development written by Lawrence Wai-chung Lai and published by Nova Publishers. This book was released on 2003 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the beginning of this new century, when able people in science across the world are working on scientific methods of providing sustainable development, specific to their own countries or general to the world, it is also timely to remind ourselves that technology may not be the answer to everything. Technology, by itself, produces only summary statements on how physical entities in the world are related. It does not provide methods of how human inputs are to be used in combining the technology in generating outputs. It also does not address to issues on how the outputs of the combination of technology and human resources ought to be valued. Lastly, it does not address to how existing technologies can be combined, further modified, and the institutional environment for continuous experiments and improvements. This book brings together a collection of essays attempting to capture these interactions for the purpose of promoting sustainable development. By theoretical discussions and by case studies, the essays describe how environmental concerns can be (or have been) addressed to in the process of development in different institutional settings. The knowledge coming out of this research suggested a proposition loud and clear to researchers now working on the concept of sustainable development. The authors describe how the concept of sustainable development can be implemented. The quest for sustainable development is not the monopoly of secular or positivist inquiry. The authors offer insights into the material means and framework by which sustainability as a normative concept can be rendered operational for those who accept voluntary transactions as the basis of social interactions.

Download or read book Rental Adjustment and Housing Prices written by Honglin Wang and published by . This book was released on 2013 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Study of Rates in Hong Kong written by Rong Tang and published by . This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "Study of Rates in Hong Kong: Implications for the Mainland Property Tax Reform" by Rong, Tang, 唐荣, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Enlightened by the theory of Tiebout and Hamilton about property tax as a benefit tax and the new view reformulated by George R. Zodrow and Peter Mieszkowski, this dissertation seeks to study the capitalization and regressivity of Government Rates in Hong Kong, which have already existed for 165 years in the city and are equivalent to property tax mentioned in western literature. Since both Hong Kong and Mainland China share the same structure of land lease system, it is meaningful to study the implications of Rates in the property market in Hong Kong at the juncture of a new wave of property tax reform in China commencing with the latest property tax experiment in two major cities: Chongqing and Shanghai. This dissertation first reviews the history and describes the roles of Government Rates in the financial revenue and expenditure system of the Hong Kong Government to get a clear picture of where Rates are from, how they are collected and where they have been spent on. Meanwhile, effects of Rates and public expenditures on local residential property values of different classes during the year 1974-2008 are examine by applying time series of housing price index, percentage of Rates charge, and public expenditure, etc. Furthermore, in order to test whether Hamilton's intra-jurisdictional capitalization exists, transaction data of the year 2000 from EPRC are employed to examine whether low income housing (small units) sells at relatively higher price compared with high income housing (large units) due to the fiscal surplus. The empirical results show no capitalization of Rates but capitalization of public goods exists and the Rates payment is shifted forward into the housing price. We find out that Rates in Hong Kong is not a capital tax, and actually it is a benefit tax and user fee paid for public goods. The last part of the dissertation concludes valuable lessons for the property tax reform in Mainland China. ii 2 DOI: 10.5353/th_b5137966 Subjects: Property tax - China Real property tax - China - Hong Kong

Download or read book The Effect of Land Supply Restriction on the Risk of Hong Kong Indirect Real Estate written by Ervi Liusman and published by Open Dissertation Press. This book was released on 2017-01-27 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "The Effect of Land Supply Restriction on the Risk of Hong Kong Indirect Real Estate" by Ervi, Liusman, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Abstract of thesis entitled The Effect of Land Supply Restriction on the Risk of Hong Kong Indirect Real Estate Submitted by LIUSMAN ERVI for the degree of Doctor of Philosophy at the University of Hong Kong in September 2007 From 1984 to 1997, the Hong Kong Government was restricted, under Annex III of the Sino British Joint Declaration, to granting new developable land of no more than 50 hectares per year. This artificial constraint provides an excellent opportunity to test how restricting the supply of new developable land, which is free of pre-development risk, affects the risks faced by listed real estate companies, the most common form of indirect real estate in Hong Kong. I have used quarterly data from the second quarter of 1978 through the fourth quarter of 2005 to estimate the multifactor variance decomposition models. The models allowed us to examine the relative contribution of local common stocks, direct real estate, interest rates, global stocks, and idiosyncratic (unexplained) factors to the observed volatility or risk of indirect real estate for the entire observation period and sub-periods during which new land supplies were restricted (1984- 1997) and not restricted (1978-1984 and 1997-2005). My empirical results showed that there was a significant increase in idiosyncratic risk for all indirect real estate from 1984 to 1997. This supported my prediction that new land supply restrictions will result in an increase in the idiosyncratic risk of indirect real estate. Restrictions of new land supplies forced developers to look for alternative sources of land for development, such as redeveloping or changing the use of land and other development constraints. To assemble land for redevelopment and to obtain approval from various authorities to develop these alternative sources of land is a dubious task, and the outcomes are unpredictable. Such uncertainty is priced in the indirect real estate market and manifests itself as a source of volatility not explained by the factors in the variance decomposition model. Another implication of my theoretical analysis is that real estate companies that are more involved in real estate development (as oppose to real estate investment) experienced a larger increase in idiosyncratic risk from 1984 to 1997. My empirical results, which were based on an analysis of all the real estate companies that were listed throughout the entire observation period (the second quarter of 1978 through the fourth quarter of 2005) in Hong Kong, are consistent with this implication. The findings of this study are applicable to situations in which there is a change in the ratio of new developable land (free of pre-development risk) to all sources of land for development (some of which may have incurred pre-development risk), whether due to a change in policy/legislation, physical constraints, or other reasons. When this ratio declines, the idiosyncratic risk of real estate development companies will increase, but the same has no effect on that of companies that are involved purely in real estate investment. This finding has important implications for policy makers, investors and decision makers of real estate companies. ii DOI: 10.5353/th_b3943371 Subjects: Real estate development - China - Hong Kong Land use, Urban - Government policy - China - Hong Kong Real estate in

Download or read book People s Republic of China Hong Kong Special Administrative Region written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-12-08 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Executive Board of the IMF has concluded the consultation discussions with the Hong Kong Special Administrative Region (SAR). Hong Kong SAR has rebounded from the global financial crisis, and growth should be at 53⁄4 percent this year. Unemployment has fallen to low levels, and real incomes have grown, supporting consumption. It is noted that growth has rebounded thanks to the authorities’ policy response, highly flexible labor and product markets, and favorable spillovers from Mainland China. The progress on increasing trade settlement and issuing financial instruments denominated in renminbi has accelerated.

Download or read book A Comparative Study of Industrial Land Policies in Hong Kong and Singapore written by Eileen Mary Hastings and published by . This book was released on 2017-01-27 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "A Comparative Study of Industrial Land Policies in Hong Kong and Singapore" by Eileen Mary, Hastings, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b4212809 Subjects: Land use - China - Hong Kong Land use - Singapore Industrial sites Land Cross-cultural studies

Download or read book Asian Economic and Political Issues written by Frank H. Columbus and published by Nova Publishers. This book was released on 1998 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is predicted by some observers that the 21st century will be remembered as the 'Asian Century'. Many of the countries in the region seem to be able to take the economic and trade baton when one of the others experience problems. The region, in general, continues to grow economically, politically and militarily. The articles presented in this book examine the current political and economic situations in nations across Asia, particularly focusing on economic developments. Contents: Preface; The Challenge of Removing Administrative Barriers to FDI in China; Negative Externality, Tacit Bargaining and Cigarette Demand: The Case of Environmental Tobacco Smoke in Japan; Modelling Development Control of Residential Development: A Probit Analysis of Rent Seeking and Policy Autonomy in Town Planning in Hong Kong; Social(ist) Capital: Does it Pay? The Institutional Impact on Conditions and Consequences of Access to Social Capital: the Case of the Former GDR; The Role of Foreign Investment in Guangdong's Economic Development; Natural Disasters and Long-run Economic Growth in Asia and Around the World; The Role of Urban Policy in the Battle against Poverty: The Experience of the Philippines;

Download or read book The Effects of Political Business Cycle in the United States on Hong Kong s Property Market written by 文景輝 and published by Open Dissertation Press. This book was released on 2017-01-27 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "The Effects of Political Business Cycle in the United States on Hong Kong's Property Market" by 文景輝, King-fai, Man, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Abstract of thesis entitled The effects of Political Business Cycle in the United States on Hong Kong's Property Market Submitted by Man, King Fai for the degree of Doctor of Philosophy at the University of Hong Kong in October 2007 This study investigates how the US political business cycle affects property prices in Hong Kong. Previous studies suggest an election induced business cycle of 4 years in the US. We propose that the US political business cycle also resulted in a 4-year cycle in property prices in Hong Kong due to the currency board system adopted in Hong Kong and Hong Kong's reliance on the performance of the US economy. Our empirical evidence supports the existence of a 4-year cycle in property prices in the residential, retail, office and industrial sub-sectors. We have also shown that the influence of the US political business cycle on property prices in Hong Kong is mainly through cyclical movements in interest rates and inflation rates in Hong Kong, both imported from the US. The high transaction costs and impossibility of short-selling make it difficult for professional arbitrageurs to exploit the predictable cyclical movement of property prices. Therefore the persistence of a 4-year cycle in the property prices is not inconsistent with the efficient market hypothesis. We have also investigated whether the effects of the US business political cycle can filter through to the supply of new buildings and indirect (securitized) real estate price, both of which have shown strong cyclical co-movement with property prices. We hypothesize that the influence of the effect of US political business cycle on property prices cannot be transmitted to the building industry due to the substantial variation in the lead time between the decision to increase new supply triggers by price signals and the actual realization of such new supplies as completed buildings. This variation is a result of a wide range of scale of development projects and the differences in difficulties and complexity in obtaining approvals for developments in different sites in Hong Kong. Our empirical evidence shows that there is no 4-year cycle in the supply of completed buildings, although other cycles of different frequency exist. This finding is consistent with our hypothesis. The indirect real estate has been shown to be very efficient due to the lower transaction costs, high liquidity and possibility of short-selling. Therefore we conjecture that although direct and indirect real estate prices are closely related, the 4-year cycle in property prices cannot filter to indirect real estate prices since any predictable cyclical movements will be exploited by professional arbitrageurs. Furthermore, indirect real estate prices are also heavily influenced by stock market sentiments other than property prices. While we find no evidence of a 4-year cycle, there is evidence, though not strong, that suggests the existence of cycles of different frequencies. This result suggests that indirect real estate is not as efficient as most previous studies have suggested if predictability over longer time horizon is considered or that there are other institutional factors that prohibit professional investors such as fund managers from exploiting such longer term predictability of indirect real estate prices. This finding opens u

Download or read book Price Movements of Large and Small Housing Units in Hong Kong written by WENTING. HUANG and published by . This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "Price Movements of Large and Small Housing Units in Hong Kong: an Empirical Investigation" by Wenting, Huang, 黄文婷, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Housing is a dual commodity, which means it is not only a consumption, but an investment, good as well. Investors prefer larger units to smaller ones because larger units with higher ratios of the land-to-property-value will experience higher appreciation rates during a boom and enjoy higher liquidity. Therefore, changes in investment demand have a greater impact on the prices of larger units than on smaller units. Meanwhile, observations have revealed that buyers of smaller units are mostly prospective owner-occupiers driven by consumption demand. Thus, changes in consumption demand have a greater impact on the prices of smaller units than on larger ones. The aim of this study is to investigate the reasons for variations in the price movements of larger and smaller units. If the theory of the investment and consumption submarket holds true, the price differentials between larger and smaller units should capture the changes in investment and consumption demand. The changes in investment demand are measured by capital flows (the proxy of which is the LIBOR-to-HIBOR ratio) and the investment sentiment of the stock market (proxy: Hang Seng Index), whereas changes in consumption demand are measured by unemployment (proxy: unemployment rates). Three hypotheses are derived from the theory of the investment and consumption submarket: 1) The influx of large venture capital into Hong Kong should enlarge the price differentials, while the outflow of large venture capital should narrow them; 2) there is a positive relationship between investment market sentiment and the price differentials; and 3) the unemployment rate should positively affect the price differentials. In the empirical analysis, the price differentials between larger and smaller units are regressed on the variables of the LIBOR-to-HIBOR ratio, the Hang Seng Index, the unemployment rates, and other control variables. Quarterly data from 1985 to 2009 in Hong Kong is employed. The results of the ordinary least squares (OLS) method confirm the three hypotheses of capital flows, investment market sentiment, and unemployment. The empirical results of this study have potentially important practical and policy implications. The findings on the different effects of investment and consumption demand on the prices of larger units versus those on smaller units will offer homebuyers guidance on what to buy and when to buy it. Besides, studies on housing price should distinguish the price movements of larger and smaller units when different investment and consumption demands are concerned. Meanwhile, this study should shed light on investment activities. Other than conventional investment indicators, investors can predict price changes in larger units by tracking the influx or outflow of large amounts of capital to and from Hong Kong, respectively. The findings of this study should also help the government take action to influence the prices of larger units without affecting the smaller unit market, and vice versa. DOI: 10.5353/th_b5108684 Subjects: Housing - Prices - China - Hong Kong

Download or read book American Doctoral Dissertations written by and published by . This book was released on 1988 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Markets at Work written by Bertrand Renaud and published by Hong Kong University Press. This book was released on 1997-07-28 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The real estate economy of Hong Kong is one of the most dynamic and sophisticated in the world, and has contributed greatly to the spectacular development of this vibrant city. More importantly, at a time of rapid globalization of the world economy, it is possibly the best model of the behaviour of an advanced real estate industry operating in an open economy. Hong Kong is thereforeof interest to analysts and policymakers everywhere, not least because of Hong Kong's political reintegration with China in 1997. With this in mind, the authors have managed to capture the key economic features of the private residential real estate market in Hong Kong in this compact volume. They have identified and highlighted critical institutions that contribute to the success and economic factors which shape the dynamics of all sectors of the real estate industry in Hong Kong. This book is essential reading for market analysts, policymakers, students and international readers with an interest in comparative analysis of real estate markets and institutions.' Professor Anthony Walker, Centre for Real Estate and Urban Economics,The University of Hong Kong.