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Immigration and the Neighborhood: New Evidence from Recent Immigrants in Hong Kong

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  • Chang, Zheng

    (City University of Hong Kong)

Abstract

This study examines the causal effect of the recent inflow of high-skilled immigrants on the housing value of the properties of Hong Kong natives. We categorize homebuyers into local, Mainland Chinese, and other foreigners, and construct neighborhood-level housing profiles based on housing transactions from 2011 to 2016. We estimate the impact of immigrants on housing value at the neighborhood level. By using instrumental variable estimation, we find that recent immigrant inflow does not generate significant impact on the willingness of Hong Kong natives to pay for housing units.

Suggested Citation

  • Chang, Zheng, 2018. "Immigration and the Neighborhood: New Evidence from Recent Immigrants in Hong Kong," International Real Estate Review, Global Social Science Institute, vol. 21(4), pages 549-566.
    • Handle: RePEc:ire:issued:v:21:n:04:2018:p:549-566
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    References listed on IDEAS

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    Cited by:

    1. Ting Lan, 2019. "Intrinsic bubbles and Granger causality in the Hong Kong residential property market," Frontiers of Business Research in China, Springer, vol. 13(1), pages 1-15, December.

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    More about this item

    Keywords

    Immigration; Housing Price; Neighborhood; Externality; Hong Kong;
    All these keywords.

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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