IDEAS home Printed from https://ideas.repec.org/a/bla/revurb/v13y2001i1p46-61.html
   My bibliography  Save this article

On the Competitive Land Market: Evidence from Hong Kong

Author

Listed:
  • Raymond Y.C. Tse
  • E.C.M. Hui
  • C.H.K. Chan

Abstract

This paper examines both theory and empirical evidence on the relationship between market concentration and profitability in Hong Kong's land market. Such a relationship has been the subject of substantial debate among academics and practitioners. The study highlights several distinctive characteristics of property development in Hong Kong, and particularly various competitive strategies. In Hong Kong, land can be acquired through public auction, redevelopment and lease modifications. Thus, those developers without a sufficient land bank tend to be very aggressive in land auction. However, in the land auction market, competition is keen and the land acquired expensive. This study found that the leading property developers do not take the largest share in the land auction market. We argue that the developers tend to locate themselves in a suitable market position or strategic domain, within which they sustain competitiveness by increasing their market share. We also found that the property developers undertaking a relatively high proportion of large†scale projects tend to have a higher proportion of profits from such projects.

Suggested Citation

  • Raymond Y.C. Tse & E.C.M. Hui & C.H.K. Chan, 2001. "On the Competitive Land Market: Evidence from Hong Kong," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 13(1), pages 46-61, March.
    • Handle: RePEc:bla:revurb:v:13:y:2001:i:1:p:46-61
    DOI: 10.1111/1467-940X.00031
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1467-940X.00031
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1467-940X.00031?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jin-Ray Lu & Chih-Chiang Huang, 2015. "Identifying Stock Market Reactions to Acquisition Announcements in Taiwan Land Auction," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(8), pages 1014-1028, August.
    2. Zhi Dong & Tien Sing, 2014. "Developer Heterogeneity and Competitive Land Bidding," The Journal of Real Estate Finance and Economics, Springer, vol. 48(3), pages 441-466, April.
    3. Jianfu Shen & Frederik Pretorius & K. W. Chau, 2018. "Land Auctions with Budget Constraints," The Journal of Real Estate Finance and Economics, Springer, vol. 56(3), pages 443-471, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:revurb:v:13:y:2001:i:1:p:46-61. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0917-0553 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.