Touristification is an emerging concept used to enable the understanding of how various stakeholders interfere and transform a neighbourhood through tourist activities. This study develops a touristification rent gap theory to examine how an influx of tourists causes an increase in retail rents....

Shared equity homeownership is a housing finance model that uses public investments to subsidise families with modest incomes to purchase homes. However, the shared equity model is argued to constrain homeowners from moving because of its resale period and price restrictions. While many studies...

Providing affordable housing has become one of China’s key national policy agenda items. The shared-equity model in Hong Kong, implemented since the late 1970s, has assisted many families in owning a home in the public housing market. However, little attention has been paid to their welfare...

With the government owning all land in Hong Kong, public land sales have been an important channel for developers to acquire land for property development, apart from private-led urban regeneration. For the colonial time before 1997, land was supplied to the market via a supply-oriented model,...

Occupancy discount is a long-accepted doctrine in literature. Search theory supports such a proposition, but empirical evidence is mixed. This study revisits this dilemma and puts forward an alternative argument that a landlord may exploit sitting tenants who have made non-redeployable...

Sale before completion (i.e. presale) is a common practice that real estate developers use to sell residential units. Since presale buyers are unable to inspect uncompleted units, developers may take advantage of asymmetric information and release information about quality to the market...

A balcony is often perceived as a "green" provision in modern residential buildings, as it enhances energy efficiency (providing natural lighting and ventilation), mitigates traffic noise, improves the circulation of fresh air, and provides planting space. However, how the market values the...

Noise trading has been intensively studied in finance, but rarely in real estate. Theories of price dispersion have also been well established in retailing research, but less so in real estate. This paper is the first attempt to study the effect of noise trading on price dispersion in the real...

Age, time and vintage effects are exact collinear, so their effects cannot be disentangled in regression analyses. Suggestions have been put forward to deal with this problem, but in vain. Since the problem of exact collinearity requires external information to solve, any manipulation of the...