| Author: | Qian, Zonghe |
| Title: | The spillover effect of urban redevelopment on housing price dynamics in Hong Kong |
| Advisors: | Fan, Ying (BRE) |
| Degree: | M.Sc. |
| Year: | 2022 |
| Subject: | Urban renewal -- China -- Hong Kong Real property -- China -- Hong Kong Hong Kong Polytechnic University -- Dissertations |
| Department: | Department of Building and Real Estate |
| Pages: | x, 77 pages : color illustrations |
| Language: | English |
| Abstract: | Urban redevelopment is an important part of urban renewal and plays an essential role in improving land utilisation, optimising urban space, improving the living environment and improving urban livability. These effects mean that urban redevelopment has an important impact on the real estate market. By studying the spillover of urban redevelopment on the real estate market, this dissertation will help the government to apply scientific management and planning to urban renewal. At the same time, the paper studies the potential impact of the different stages and characteristics of urban redevelopment projects on the real estate market. Drawing on the literature, this paper uses the difference-in-difference method to construct a difference-in-difference model (DID) of the impact of urban renewal on the real estate market in Hong Kong, taking the residential market as an example. It studies the impact of urban renewal projects on housing prices at three different time points, and the impact of changes in use before and after project redevelopment on surrounding housing prices. The research has two main findings: (1) The urban renewal projects reviewed brought about increases of 4.18%, 3.93% and 3.59% in housing prices in the announcement period, the construction period and the operation period respectively. This shows that urban redevelopment has different degrees of impact on housing prices at different stages, and these impacts are all positive. At the same time, it shows that urban renewal can indeed increase real estate prices. (2) This study found that people have more demands for urban amenities and retail mall indicating that Hong Kong's urban renewal is entering the stage of 'humanistic thought'. |
| Rights: | All rights reserved |
| Access: | restricted access |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 6506.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 2.23 MB | Adobe PDF | View/Open |
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