What do we know about Housing Supply? The case of Hong Kong

Charles Leung, Joe Cho Yiu Ng () and Edward Chi Ho Tang

No GRU_2019_012, GRU Working Paper Series from City University of Hong Kong, Department of Economics and Finance, Global Research Unit

Abstract: The house price in Hong Kong is well-known to be "unaffordable." This paper relates the macroeconomy and the housing market of Hong Kong and argues that the housing supply plays a vital role in explaining the phenomenon. This paper also shows that there are some practical challenges in understanding the housing supply of Hong Kong, including the potentially complicated ownership structure of real estate development. While the discussion centers on the situation of Hong Kong, its lesson may also apply to the housing markets in other small open economies.

Keywords: new housing supply; oligopolistic market structure; ownership structure of real estate development; real estate developers (search for similar items in EconPapers)
JEL-codes: L10 R30 R31 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2019-06-20
New Economics Papers: this item is included in nep-ure
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https://www.cb.cityu.edu.hk/ef/doc/GRU/WPS/GRU%232019-012%20Leung.pdf (application/pdf)

Related works:
Working Paper: What do we know about Housing Supply? The case of Hong Kong (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:cth:wpaper:gru_2019_012

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