Matching housing supply and demand: an empirical study of Hong Kong's market
AbstractThis paper has the objective of improving on the issue of forecasting new housing construction, and highlights differences between space demand and investment demand in housing markets. Further, it indicates how these differences will affect construction decisions. The first step is to identify the factors associated with estimating residential property prices in Hong Kong, based on a demand-supply adjustment process. Specifically, this study examines the role of population growth, transaction volume, inflation and interest rate in determining house prices. Second, based on these estimations, a methodology is developed to estimate the investment demand schedule and new construction of residential property.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Construction Management and Economics.
Volume (Year): 17 (1999)
Issue (Month): 5 ()
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