Cheung, Yan-leung; Tsang, Shu-ki; Mak, Sui-choi - In: The Journal of Real Estate Finance and Economics 10 (1995) 1, pp. 23-35
This study examines the causal relationships between sale price changes and rental rate changes in the Hong Kong real estate market. Three different hypotheses are put forth: (1) the demands in the two markets are substitutes, (2) prices and rentals are positively correlated; and (3) prices and...
