 On the Competitive Land Market: Evidence from Hong KongRaymond Y.C. Tse, E.C.M. Hui and C.H.K. Chan Review of Urban & Regional Development Studies, 2001, vol. 13, issue 1, 46-61 Abstract: This paper examines both theory and empirical evidence on the relationship between market concentration and profitability in Hong Kong's land market. Such a relationship has been the subject of substantial debate among academics and practitioners. The study highlights several distinctive characteristics of property development in Hong Kong, and particularly various competitive strategies. In Hong Kong, land can be acquired through public auction, redevelopment and lease modifications. Thus, those developers without a sufficient land bank tend to be very aggressive in land auction. However, in the land auction market, competition is keen and the land acquired expensive. This study found that the leading property developers do not take the largest share in the land auction market. We argue that the developers tend to locate themselves in a suitable market position or strategic domain, within which they sustain competitiveness by increasing their market share. We also found that the property developers undertaking a relatively high proportion of large†scale projects tend to have a higher proportion of profits from such projects. Date: 2001 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:revurb:v:13:y:2001:i:1:p:46-61 Ordering information: This journal article can be ordered from Access Statistics for this article More articles in Review of Urban & Regional Development Studies from Wiley Blackwell |
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