TY - JOUR
T1 - What do we know about housing supply? The case of Hong Kong SAR
AU - Leung, Charles Ka Yui
AU - Ng, Joe Cho Yiu
AU - Tang, Edward Chi Ho
PY - 2020
Y1 - 2020
N2 - The house price in the Hong Kong SAR of China is well-known to be ‘unaffordable’. This paper relates the macroeconomy with the housing market of Hong Kong and argues that the housing supply plays a vital role in explaining the phenomenon. This paper also shows that there are some practical challenges in understanding the housing supply of Hong Kong, including the potentially complicated ownership structure of real estate development. While the discussion centres on the situation of Hong Kong, its lesson may also apply to housing markets in other small open economies.
AB - The house price in the Hong Kong SAR of China is well-known to be ‘unaffordable’. This paper relates the macroeconomy with the housing market of Hong Kong and argues that the housing supply plays a vital role in explaining the phenomenon. This paper also shows that there are some practical challenges in understanding the housing supply of Hong Kong, including the potentially complicated ownership structure of real estate development. While the discussion centres on the situation of Hong Kong, its lesson may also apply to housing markets in other small open economies.
KW - New housing supply
KW - oligopolistic market structure
KW - ownership structure
KW - real estate developers
KW - real estate development
UR - http://www.scopus.com/inward/record.url?scp=85076932374&partnerID=8YFLogxK
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UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-85076932374&origin=recordpage
U2 - 10.1080/20954816.2019.1691705
DO - 10.1080/20954816.2019.1691705
M3 - RGC 21 - Publication in refereed journal
SN - 2095-4816
VL - 8
SP - 6
EP - 20
JO - ECONOMIC AND POLITICAL STUDIES-EPS
JF - ECONOMIC AND POLITICAL STUDIES-EPS
IS - 1
ER -
