Purpose – This paper seeks to explore the relationship between market positioning and rents of retail facilities in Hong Kong. Design/methodology/approach – Regression analysis is deployed in the paper to find out the impact of various attributes, in terms of a retail facility's physical...

This is an empirical study on the vertical dimension of multi-story buildings – floor level and building height. The idea of price gradients in a monocentric city was borrowed to investigate floor-level premiums, which are the price paid for the vertical location (i.e., a higher floor level)...

Purpose – The purpose of this paper is to develop a hypothesis for evaluating the potential contribution of planning conditions to protect the environment by reducing environmental complaints (ECs) in an institutional context of growing communicative planning and interpret the results of an...

Purpose – To examine how the allocation of property rights in multiple‐ownership buildings in Hong Kong creates an environment in which the optimization of asset value may be difficult to achieve and in this situation how owners chose to overcome the associated problems of collective action...

Purpose – In 2000, the Hong Kong Government commissioned the Construction Industry Review Committee (CIRC) to provide a thorough review of the strengths/weaknesses of the Hong Kong construction industry and to recommend improvement measures. The CIRC’s report, released in 2001, recommended...

A distinctive feature of mortgages as assets is the existence of prepayment risk, typically viewed as a borrower’s call option to pay the outstanding mortgage balance at any time during the term. While previous research identified important causes for prepayment, these studies are mostly based...

Historical commercial real estate returns are attributed to three fundamental factors: initial current yield, growth in net operating income, and changes in going-in versus going-out capitalization rates (i.e., pricing movements). Separating returns into these three factors appears to provide...

This study investigates the effects of political uncertainty associated with the 1997 repossession of Hong Kong by China on the real estate market. Such effect is reflected in the change in the real estate risk premiums. A model is derived to estimate the trend of real estate risk premium for...