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Author: Wai-Yin Lam Publisher: ISBN: 9781360974248 Category : Languages : en Pages :
Book Description
This dissertation, "An Evaluation of the Impact of the Downfall of Property Market on Tenure Choice in Hong Kong" by Wai-yin, Lam, 林偉賢, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b4500821 Subjects: Housing - Prices - China - Hong Kong Home ownership - China - Hong Kong Landlord and tenant - China - Hong Kong - Attitudes
Author: Wai-Yin Lam Publisher: ISBN: 9781360974248 Category : Languages : en Pages :
Book Description
This dissertation, "An Evaluation of the Impact of the Downfall of Property Market on Tenure Choice in Hong Kong" by Wai-yin, Lam, 林偉賢, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b4500821 Subjects: Housing - Prices - China - Hong Kong Home ownership - China - Hong Kong Landlord and tenant - China - Hong Kong - Attitudes
Author: Publisher: ISBN: Category : Languages : en Pages :
Book Description
(Uncorrected OCR) ABSTRACT In Hong Kong, due to the government's strong intervention in the housing market, the housing subsidy system and rationing on owner-occupation and the public rental housing sector have significant impact on households' tenure decisions. As laid down in the first and second Long Term Housing Strategy respectively in 1987 and 1998. the government adopted an active policy of promoting home ownership towards privatization via various subsidies, like the Home Ownership Scheme (I IOS) and the I lome Purchase Loan Scheme (HPLS). During this period, property ownership was also regarded as an inflation-resistant investment and an effective wealth accumulation vehicle. Unfortunately, the property market slump following the 1997 Asian Financial Crisis has come to mean Ihe cessation of the "wealth escalator" function of property ownership. In view of lackluster property market and the political pressure, the government took the unprecedented decision on 13 November 2002 to extricate itself from the role as a direct provider of subsidized sale flats, allowing market forces to address the problem. A new Home Assistance Loan Scheme (HALS) was introduced on 2 January, 2003 as a phase process. On 14 July 2004. the Hong Kong Housing Authority (HA) also ceased the provision of 1IALS in order to be freed from the heavy financial burden. Currently, the subsidized home ownership of 1 long Kong is abolished. It is noted that structural changes that characterize the housing and labor markets in the new age of global economy are creating some impact on housing market behavior. As the risks arising from the higher incidence of unemployment, low wage work and volatile housing prices increase, homeowners now prudently, re-assess the terms and conditions before committing to mortgage arrangements. This research centers on investigating the determinants of tenure choice from the approved purchasers of HALS and their views over producer and customer subsidies to home own.
Author: Jiancong Liang Publisher: Open Dissertation Press ISBN: 9781361382202 Category : Languages : en Pages :
Book Description
This dissertation, "Factors Affecting Tenure Choice in Hong Kong" by Jiancong, Liang, 梁健聰, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: This study investigates the factors that affect the home-ownership propensity of households using a modified two-period equilibrium model. In particular, the study examines the impacts of some social, political and economic factors that in theory should affect housing tenure choice but have limited empirical evidence so far. To test the impacts of these factors, five sets of Hong Kong Census and By-Census cross sectional data over the period from 1991 to 2011 were used to estimate Binary Logit Models. Further robustness tests were conducted using sub-sample of the entire dataset. There are three key empirical findings that contribute to the existing body of knowledge in housing tenure choice. First, it is found that the positive income effect on home-ownership propensity found in previous studies can be reversed by political risk. There is strong evidence which suggests that income has negative impact on home-ownership propensity during periods of high political uncertainty. The handover of Hong Kong to China in 1997 was used as an event to study how political uncertainty would influence the effect of household income on housing tenure choice. Before the handover of Hong Kong in 1997, risk-averse households with high income in Hong Kong tended to be tenants rather than owner-occupiers so as to reduce their moving cost and increase mobility. High income households tended to be more internationally mobile and could migrate to other countries more easily, while households with low income were less internationally mobile and hence their housing tenure choice was less affected by political risks. The income effect on home-ownership propensity turned positive after the handover in 1997, when most of the political uncertainties were removed. Second, this study shows that policies that encourage inflow of capital to Hong Kong has an unintended consequence of depressing the home-ownership rate of local households. Empirical results in this study suggest that local households are less likely to be owner-occupiers after the implementation of Capital Investment Entrant Scheme (CIES) and the Individual Visit Scheme (IVS) in Hong Kong in 2003. These policies have increased non-local demand for housing. Even after temporary suspension of housing as a class of Permissible Investment Assets (PIA) on 14 October 2010, successful applicants under the scheme, who are usually very rich, could afford and tend to buy their own housing units in Hong Kong. Due to the inelastic supply of developable land in Hong Kong, increased demand from immigrants had driven up housing prices, making housing less affordable to many local people. In addition, the IVS implemented at about the same time have also contributed to the surging demand for housing from non-local buyers, since the IVS has made visiting Hong Kong for people from Mainland China much easier than before. Due to the limited supply of developable land and appreciation of the RMB, some visitors from Mainland China find it attractive to buy housing units in Hong Kong for investment or self-consumption purposes. Finally, the impact of local language proficiency on tenure choice is another major finding in this study that was not investigated in the past. Compared to non-Chinese speakers in Hong Kong, Chinese speakers, especially Cantonese speakers, are more likely to be owner-occupiers. There are two potential explanations - cultural fit and transaction costs. The cultural fit
Author: Sai-Lun Paul Sin Publisher: ISBN: 9781360982946 Category : Languages : en Pages :
Book Description
This dissertation, "Impacts of Government Intervention on Housing Market and Tenure Choices in Hong Kong" by Sai-lun, Paul, Sin, 冼世倫, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b4500944 Subjects: Housing policy - China - Hong Kong Real estate business - China - Hong Kong Home ownership - China - Hong Kong
Author: Tiwari, Piyush Publisher: Edward Elgar Publishing ISBN: 1839103930 Category : Business & Economics Languages : en Pages : 296
Book Description
Offering fresh insights into the key emerging issues in the field, including the changing socio-economic contexts brought about by the rise of the millennial generation and the creative class, the Covid-19 pandemic, and a greater emphasis on social responsibility, this forward-looking Research Agenda critically debates and rethinks theories and practices in the property sector.
Author: Wai-Yin Lam
Author: Wai-Yin Lam
Author: Wai-yin Lam (M.Hous.M.)
Author: 
Author: Yim-ling Sung
Author: Jiancong Liang
Author: Qiang Fu
Author: Sai-Lun Paul Sin
Author: Qiang Fu (Ph.D.)
Author: Sai-lun Sin (Paul)
Author: Tiwari, Piyush