Purpose – This study investigates whether there was a housing price bubble in Beijing and Shanghai in 2003. The existence of a bubble can be interpreted from (abnormal) interactions between housing prices and market fundamentals. Design/methodology/approach – With monthly data from the two...

Purpose – Residential crowding and underlying causes of crowding have been changing across the globe over time. The aim of this paper is to examine the dynamics of housing consumption and residential crowding in Hong Kong. Design/methodology/approach – While the two‐step Engle‐Granger...

The aim of this research is to investigate the effects of land supply (LS) and lease conditions on the housing market. It tests whether there exists a relationship: between LS and housing price, between development conditions in government land leases and housing supply, and to what extent these...

Purpose – The purpose of this paper is to examine the abnormal stock return of Hong Kong real estate firms following news of land acquisition and identify determinants to the abnormal stock return. Design/methodology/approach – The paper employs the event‐study methodology and multivariate...