In this study, we investigate how geographic proximity to industrial services provided by cities across the urban hierarchy contributes to differences in land prices of nearby towns. We construct three urban hierarchy tiers for cities in China based on their administrative levels. Using over...

This study investigates a causal relationship between the adoption of the Closer Economic Partnership Arrangement (CEPA) trade liberalization policy and the average wage by exploiting long-term Hong Kong census data from 2001 to 2016. The individual-level analysis shows that the one-sided tariff...

As COVID-19 is pervasive in the globe, governments in different countries face a dilemma between restricting the transmission risk of the virus by social distancing and maintaining economic activities. Inadequate social distancing policies lead to more infected cases and deaths, while some...

This study examines how overpricing of properties (in terms of above-market price), along with various housing attributes, influence their time-on-market (TOM). The results with the full sample show that only dummy variables depicting years 2003-2005 and flats located in Kowloon significantly...

The residential property market is characterized with cyclical price movements and long development lead-time. Developers are faced with challenging decisions such as the optimal timing and density of their projects in order to ride the boom-bust cycles. The increasingly important role of market...

This study investigated government speculation on spillover effect in the housing market based on a quasi-experiment related to the house purchase restriction (HPR) policy in China. Using a difference-in-differences research method and the HPR policy applying between 2016 and 2017 in China, this...

The continuous growth of urbanization across the world complicates the achievement of sustainable development goals for housing. Governments across countries have been mostly unsuccessful in providing sustainable affordable housing for the urban poor; suggesting an urgent need for other means of...

The study applies an endogenous switching probit model, using the data from the China Household Finance Survey (CHFS). Not only does it explore the joint decision mechanism between housing purchase and entrepreneurship, but also the (treatment) effect of housing-purchase on entrepreneurship. The...

This study aims to develop a selection criterion of Listed Real Estate Companies (LRECs) from a perspective of performance and operating efficiency, which is measured by a frontier-based Data Envelopment Analysis (DEA) approach. The DEA is a powerful, non-parametric technique that allows the...

Macro control measures for real estate have been the focus recently in China, as the government has launched series of measures to pull down the soaring property prices and maintain the stability of the real estate market, such as taxation and limitation of housing mortgage. As previous taxation...