Intra-metropolitan Office Price and Trading Volume Dynamics : Evidence from Hong Kong
Research output: Journal Publications and Reviews (RGC: 21, 22, 62) › 21_Publication in refereed journal › peer-review
Author(s)
Related Research Unit(s)
Detail(s)
| Original language | English |
|---|---|
| Pages (from-to) | 47-74 |
| Journal / Publication | International Real Estate Review |
| Volume | 11 |
| Issue number | 2 |
| Publication status | Published - 1 Dec 2008 |
Link(s)
Abstract
Previous studies of the office market have tended to focus on either the rental market or the aggregate sales market. This paper focuses on the intra-metropolitan sales market and on office price and trading volume dynamics in Hong Kong. According to our findings, buildings trading at higher prices are not necessarily traded more often than those trading at lower prices. In addition, the price of offices in different categories does not necessarily move in tandem. The trading volumes of higher priced buildings tend to Granger cause the lower priced buildings, and this conclusion is robust to alternative classifications. The paper contrasts several existing theories. Suggestions for future research are also discussed.
Research Area(s)
- Commercial property, Correlation
Bibliographic Note
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Citation Format(s)
Intra-metropolitan Office Price and Trading Volume Dynamics : Evidence from Hong Kong. / Leung Kycleung, Charles Ka Yui; Cheung, Patrick Wai Yin; Ding, Erica Jiajia.
In: International Real Estate Review, Vol. 11, No. 2, 01.12.2008, p. 47-74.Research output: Journal Publications and Reviews (RGC: 21, 22, 62) › 21_Publication in refereed journal › peer-review
