This study investigates how information asymmetry affects the rent and vacancy rate adjust in response to external shocks using empirical data from the Hong Kong office market. We show that information asymmetry about the quality of real estate asset will lead to slower rent adjustments in...

If carefully planned, urban renewal may play an important role in regenerating a decaying neighborhood and mitigating the negative externality generated by dilapidated buildings in densely populated areas. Despite its potential benefits, in urban areas dominated by high-rise developments, urban...

This study investigates how information asymmetry affects the rent and vacancy rate adjust in response to external shocks using empirical data from the Hong Kong office market. We show that information asymmetry about the quality of real estate asset will lead to slower rent adjustments in...

This study examines how heterogeneous traders on both sides of transactions behave in the housing market under information asymmetry. Two types of buyers, namely, informed and uninformed buyers, correspond to local and non-local buyers in the empirical tests. Non-local housing buyers in Hong...

This study examines the impact of land tenure on housing bubbles. A housing bubble is defined as the portion of housing prices not justified by market fundamentals that determine the consumption demand for housing. While there are many factors that contribute to the formation of housing bubbles,...

This study analyzes the effect of foreclosure status on residential property price using Hong Kong data. Results of previous studies on the effect of foreclosure status on property price have been mixed. Some suggested that foreclosed properties are sold at a discount, while others provided...

If carefully planned, urban renewal may play an important role in regenerating a decaying neighborhood and mitigating the negative externality generated by dilapidated buildings in densely populated areas. Despite its potential benefits, in urban areas dominated by high-rise developments, urban...

In timing property listings, real estate developers can exercise the “option to wait” or “option to presale” to mitigate price uncertainty risk. In this study, we proposed a theoretical model to study the effectiveness of both strategies under a unified framework. We tested our model...