Analysis of direct and indirect property markets in Shanghai, Shenzhen, Hong Kong and Singapore

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Analysis of direct and indirect property markets in Shanghai, Shenzhen, Hong Kong and Singapore

 

Author: Li, Zhantao
Title: Analysis of direct and indirect property markets in Shanghai, Shenzhen, Hong Kong and Singapore
Degree: M.Sc.
Year: 2016
Subject: Real estate investment.
Real estate business.
Hong Kong Polytechnic University -- Dissertations
Department: Faculty of Construction and Environment
Pages: vi, 80 pages : color illustrations
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2917105
URI: http://theses.lib.polyu.edu.hk/handle/200/8657
Abstract: As kinds of direct and indirect properties, real estate and stocks are two most important assets for most investors worldwide. This study has investigated the time-varying nature and relationship of the direct and indirect real estate markets in the four cities of Shanghai, Shenzhen, Hong Kong and Singapore during the sample period of 2006 Q1 to 2015 Q4. A comparison among mainland China, Hong Kong SAR and Singapore was made to explore the differences and linkages of asset classes among them. This study also attempted to provide some significant insights into the issue of portfolio investment strategy. Evidence of different emerging Granger causalities between Chinese real estate companies and office markets in Shanghai and Shenzhen show significant changes of the linkage between direct and indirect property markets in China, and portfolio benefits of real estate funds can be enhanced by both type diversification and region diversification.

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