|Title:||Study on critical factors affecting residential property prices in Hong Kong|
|Subject:||Real property -- Prices -- China -- Hong Kong|
House buying -- China -- Hong Kong -- Costs
Real estate business -- China -- Hong Kong
Hong Kong Polytechnic University -- Dissertations
|Department:||Department of Management|
|Pages:||58,  leaves : ill. ; 30 cm|
|Abstract:||Private residential property prices in the recent years have increased to a level which an average household is unable to afford. This paper have studied the correlation between the property prices for small and medium size residential units and factors affecting demand and supply of housing during the period 1986 to 1996. Population, affordability, growth in employment income, interest rate, size of housing stock, supply of land and cost of land are identified as the critical factors affecting the property prices for small and medium size residential units. The variations in these factors are found to be closely correlated to the movements in house prices in the past 10 years. Findings on these correlations are applied to project house prices for 1998. The recent Asian currency turmoil has significant impact on the economy as a whole. Interest rate would maintain at a relatively high level. Growth in income tend to be low. Together with the Government's latest housing policy to boost house and land supply, it is projected that house prices could fall by 20-30% next year, compared to the average price in 1997.|
|Rights:||All rights reserved|
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