Tse, R Y C; Ho, C W and Ganesan, S (1999) Matching housing supply and demand: An empirical study of Hong Kong's market. Construction Management and Economics, 17(5), pp. 625-633. ISSN 01446193
Abstract
This paper has the objective of improving on the issue of forecasting new housing construction, and highlights differences between space demand and investment demand in housing markets. Further, it indicates how these differences will affect construction decisions. The first step is to identify the factors associated with estimating residential property prices in Hong Kong, based on a demand-supply adjustment process. Specifically, this study examines the role of population growth, transaction volume, inflation and interest rate in determining house prices. Second, based on these estimations, a methodology is developed to estimate the investment demand schedule and new construction of residential property.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction; Hong Kong; house price; housing demand; transaction volume |
| Index terms: | inflation, interest rate, methodology, population, estimating, housing, house price, residential construction, empirical study, estimate, markets, forecasting, Hong Kong, supply and demand, estimation, residential property |
| Subjects: | construction type, economic analysis, prediction and forecasting, financial and cost management, research methods, construction integration, Geography, market analysis, demography |
| Topics: | Urban Studies, Construction Technology, Business Strategy, Cost Management, Geographical Context, Research Practice |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here