Consumption, Housing Rents and Housing Price: A Test Of A Real Estate Pricing Model Using Hong Kong Data

The present study investigates whether Hong Kong's volatile real estate market is consistent with a non-linear consumption-based-asset-pricing model. It finds that the asset-pricing model is not rejected for some types of properties. However, the differentials between the returns to residential properties and risk-free rate are too large to be explained by the model. Copyright 2003 Blackwell Publishing Ltd.

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Year of publication:	2003
Authors:	Cheung, Francis K. ; Ni, Shawn ; Siu, Alan
Published in:	Pacific Economic Review. - Wiley Blackwell. - Vol. 8.2003, 1, p. 31-45
Publisher:	Wiley Blackwell

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005195087