Department of Real Estate and Construction

REC Research Seminar – A Tale of Two Cities: Mainland Chinese Buyers in the Hong Kong Housing Market

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ABSTRACT

This research examines the investment behaviours of mainland Chinese buyers in the Hong Kong housing market. Contrary to the conventional belief that mainland buyers significantly drive up price, we find that they only account for 3.7% of housing transactions in Hong Kong from 2001 to 2017. And their price premium over locals is only 1.4% on average, although it is 3.5% for large-sized units and 1.6% for homes in central locations. The premium follows an upward trend after 2003 and peaks around 2012, when the Buyer’s Stamp Duty policy was introduced to reduce demand from non-local buyers. We further explore the mechanisms underlying housing premiums and find robust evidence for a hedging motive. Mainland buyers’ price premiums rise significantly when China’s economic policy uncertainty increases. Our study sheds lights on the spillover effect of the economic outlook of capital flow origins on the housing valuations in destination regions.

THE SPEAKER

Dr. Fan is Assistant Professor in the Department of Real Estate at NUS Business School with ongoing research projects include evaluating responses to urban environment & housing policy and examining impacts of intra-generational and inter-generational mobility on housing behaviors. Using data science methods, her future research agenda is along the lines of interdisciplinary studies in urban forms & social engineering, and geography & mobility.

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https://hkuhk-my.sharepoint.com/:v:/g/personal/viannwyy_hku_hk/EVJScXuLbvdNmgpBYm6rzYoBP6e6iqVB2qsrbIlFRamrdQ?e=DjxkId

Event registration closed.
 

Date And Time

2022-04-13 @ 04:30 PM to
2022-04-13 @ 06:00 PM
 

Registration End Date

2022-04-11
 

Location

Online event
 

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