A Concentration Study of the Private New Residential Units Market

Sai On CHEUNG; Yuhan NIU

doi:10.14455/isec.res.2016.120

A Concentration Study of the Private New Residential Units Market

Sai On CHEUNG
, Yuhan NIU

Department of Architecture and Civil Engineering

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

Abstract

High price of private residential units is a social issue for many economies. The property price of many developed cities has risen beyond reach of the general public. In 1996, the Hong Kong Consumer Council also commented that the residential market is quite concentrated. The enactment of the Hong Kong Competition Ordinance echoes the need to look into the market competition level so as to better protect consumer welfare. Market concentration is a major indicator to measure competition. The primary aim of this study is to evaluate the concentration level of the private new residential market in Hong Kong. The concentration level is mainly evaluated by concentration measures including the Concentration Ratio and Hirfindahl-Hirschman index. The result shows that the top five developers are holding a dominant position in the market. It is envisaged that the big developers could retain their dominance due to their substantial land bank.

Original language	English
Title of host publication	Proceedings of International Structural Engineering and Construction
Subtitle of host publication	INTEGRATED SOLUTIONS FOR INFRASTRUCTURE DEVELOPMENT
Editors	Hieng Ho Lau, Fu Ee Tang, Chee Khoon Ng, Amarjit Singh
Publisher	ISEC Press
Number of pages	6
ISBN (Electronic)	9780996043731
DOIs	https://doi.org/10.14455/isec.res.2016.120
Publication status	Published - Oct 2016
Event	The Third Australasia and South-East Asia Structural Engineering and Construction Conference (ASEA-SEC-3): “Integrated Solutions for Infrastructure Development” - Pullman Hotel and Resorts, Kuching, Malaysia Duration: 31 Oct 2016 → 4 Nov 2016 https://www.isec-society.org/ASEA_SEC_03/welcome.php

Publication series

Name	Proceedings of International Structural Engineering and Construction
Number	2
Volume	3
ISSN (Print)	2644-108X

Conference

Conference	The Third Australasia and South-East Asia Structural Engineering and Construction Conference (ASEA-SEC-3)
Place	Malaysia
City	Kuching
Period	31/10/16 → 4/11/16
Internet address	https://www.isec-society.org/ASEA_SEC_03/welcome.php

Research Keywords

Competition
Concentration
Land Supply System
New Residential Units
Price

Access Output

10.14455/isec.res.2016.120

Other Access Options

Check CityUHK Library

Permanent Link

Right click to copy link

Cite this

CHEUNG, S. O., & NIU, Y. (2016). A Concentration Study of the Private New Residential Units Market. In H. H. Lau, F. E. Tang, C. K. Ng, & A. Singh (Eds.), Proceedings of International Structural Engineering and Construction: INTEGRATED SOLUTIONS FOR INFRASTRUCTURE DEVELOPMENT (Proceedings of International Structural Engineering and Construction; Vol. 3, No. 2). ISEC Press. https://doi.org/10.14455/isec.res.2016.120

CHEUNG, Sai On ; NIU, Yuhan. / A Concentration Study of the Private New Residential Units Market. Proceedings of International Structural Engineering and Construction: INTEGRATED SOLUTIONS FOR INFRASTRUCTURE DEVELOPMENT. editor / Hieng Ho Lau ; Fu Ee Tang ; Chee Khoon Ng ; Amarjit Singh. ISEC Press, 2016. (Proceedings of International Structural Engineering and Construction; 2).

@inproceedings{beebf91e95524f8791244f18ac5cf92f,

title = "A Concentration Study of the Private New Residential Units Market",

abstract = "High price of private residential units is a social issue for many economies. The property price of many developed cities has risen beyond reach of the general public. In 1996, the Hong Kong Consumer Council also commented that the residential market is quite concentrated. The enactment of the Hong Kong Competition Ordinance echoes the need to look into the market competition level so as to better protect consumer welfare. Market concentration is a major indicator to measure competition. The primary aim of this study is to evaluate the concentration level of the private new residential market in Hong Kong. The concentration level is mainly evaluated by concentration measures including the Concentration Ratio and Hirfindahl-Hirschman index. The result shows that the top five developers are holding a dominant position in the market. It is envisaged that the big developers could retain their dominance due to their substantial land bank.",

keywords = "Competition, Concentration, Land Supply System, New Residential Units, Price",

author = "CHEUNG, \{Sai On\} and Yuhan NIU",

year = "2016",

month = oct,

doi = "10.14455/isec.res.2016.120",

language = "English",

series = "Proceedings of International Structural Engineering and Construction",

publisher = "ISEC Press",

number = "2",

editor = "Lau, \{Hieng Ho\} and Tang, \{Fu Ee\} and Ng, \{Chee Khoon\} and Amarjit Singh",

booktitle = "Proceedings of International Structural Engineering and Construction",

note = "The Third Australasia and South-East Asia Structural Engineering and Construction Conference (ASEA-SEC-3) : “Integrated Solutions for Infrastructure Development” ; Conference date: 31-10-2016 Through 04-11-2016",

url = "https://www.isec-society.org/ASEA\_SEC\_03/welcome.php",

}

CHEUNG, SO & NIU, Y 2016, A Concentration Study of the Private New Residential Units Market. in HH Lau, FE Tang, CK Ng & A Singh (eds), Proceedings of International Structural Engineering and Construction: INTEGRATED SOLUTIONS FOR INFRASTRUCTURE DEVELOPMENT. Proceedings of International Structural Engineering and Construction, no. 2, vol. 3, ISEC Press, The Third Australasia and South-East Asia Structural Engineering and Construction Conference (ASEA-SEC-3), Kuching, Malaysia, 31/10/16. https://doi.org/10.14455/isec.res.2016.120

A Concentration Study of the Private New Residential Units Market. / CHEUNG, Sai On; NIU, Yuhan.
Proceedings of International Structural Engineering and Construction: INTEGRATED SOLUTIONS FOR INFRASTRUCTURE DEVELOPMENT. ed. / Hieng Ho Lau; Fu Ee Tang; Chee Khoon Ng; Amarjit Singh. ISEC Press, 2016. (Proceedings of International Structural Engineering and Construction; Vol. 3, No. 2).

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

TY - GEN

T1 - A Concentration Study of the Private New Residential Units Market

AU - CHEUNG, Sai On

AU - NIU, Yuhan

PY - 2016/10

Y1 - 2016/10

N2 - High price of private residential units is a social issue for many economies. The property price of many developed cities has risen beyond reach of the general public. In 1996, the Hong Kong Consumer Council also commented that the residential market is quite concentrated. The enactment of the Hong Kong Competition Ordinance echoes the need to look into the market competition level so as to better protect consumer welfare. Market concentration is a major indicator to measure competition. The primary aim of this study is to evaluate the concentration level of the private new residential market in Hong Kong. The concentration level is mainly evaluated by concentration measures including the Concentration Ratio and Hirfindahl-Hirschman index. The result shows that the top five developers are holding a dominant position in the market. It is envisaged that the big developers could retain their dominance due to their substantial land bank.

AB - High price of private residential units is a social issue for many economies. The property price of many developed cities has risen beyond reach of the general public. In 1996, the Hong Kong Consumer Council also commented that the residential market is quite concentrated. The enactment of the Hong Kong Competition Ordinance echoes the need to look into the market competition level so as to better protect consumer welfare. Market concentration is a major indicator to measure competition. The primary aim of this study is to evaluate the concentration level of the private new residential market in Hong Kong. The concentration level is mainly evaluated by concentration measures including the Concentration Ratio and Hirfindahl-Hirschman index. The result shows that the top five developers are holding a dominant position in the market. It is envisaged that the big developers could retain their dominance due to their substantial land bank.

KW - Competition

KW - Concentration

KW - Land Supply System

KW - New Residential Units

KW - Price

UR - https://www.scopus.com/pages/publications/85116493929

UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-85116493929&origin=recordpage

U2 - 10.14455/isec.res.2016.120

DO - 10.14455/isec.res.2016.120

M3 - RGC 32 - Refereed conference paper (with host publication)

T3 - Proceedings of International Structural Engineering and Construction

BT - Proceedings of International Structural Engineering and Construction

A2 - Lau, Hieng Ho

A2 - Tang, Fu Ee

A2 - Ng, Chee Khoon

A2 - Singh, Amarjit

PB - ISEC Press

T2 - The Third Australasia and South-East Asia Structural Engineering and Construction Conference (ASEA-SEC-3)

Y2 - 31 October 2016 through 4 November 2016

ER -

CHEUNG SO, NIU Y. A Concentration Study of the Private New Residential Units Market. In Lau HH, Tang FE, Ng CK, Singh A, editors, Proceedings of International Structural Engineering and Construction: INTEGRATED SOLUTIONS FOR INFRASTRUCTURE DEVELOPMENT. ISEC Press. 2016. (Proceedings of International Structural Engineering and Construction; 2). doi: 10.14455/isec.res.2016.120

A Concentration Study of the Private New Residential Units Market

Abstract

Publication series

Conference

Research Keywords

Access Output

Other Access Options

Permanent Link

Other Files and Links

Fingerprint

Cite this