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The impacts of cross-border tourists on local retail property market: an empirical analysis of Hong Kong

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  • Ling-Hin Li
  • Ka Shing Cheung
  • Sue Yurim Han

Abstract

Hong Kong as a small city has witnessed a drastic change in the number of short-stay and same-day tourists from Mainland China ever since the relaxation of the tourism policy began in the early 2000’s. This study examines the impacts on the prices of retail space attributed to the substantial increase of cross-border shoppers. Based on a comprehensive retail property transaction records in Hong Kong and a semi-log regression model, our study confirms a positive impact of the number of cross-border shoppers on retail property prices, especially on the value of newer and larger-sized street-level retail shops. Moreover, we find that the effects brought on the retail property market are city-wide and not limited to specific districts which are relatively closer to the border with Shenzhen and with a higher degree of accessibility by these cross-border shoppers. This paper is limited by a number of assumptions including travel distance of the shoppers from Shenzhen. Nevertheless, with an increase in personal travels by the affluent Mainland Chinese citizens who usually spend a lot on shopping outside China, future studies can be made in other North American or European cities for comparison.

Suggested Citation

  • Ling-Hin Li & Ka Shing Cheung & Sue Yurim Han, 2018. "The impacts of cross-border tourists on local retail property market: an empirical analysis of Hong Kong," Journal of Property Research, Taylor & Francis Journals, vol. 35(3), pages 252-270, July.
    • Handle: RePEc:taf:jpropr:v:35:y:2018:i:3:p:252-270
    DOI: 10.1080/09599916.2018.1511628
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    Cited by:

    1. Yan Liu & Linchuan Yang & Kwong Wing Chau, 2020. "Impacts of Tourism Demand on Retail Property Prices in a Shopping Destination," Sustainability, MDPI, vol. 12(4), pages 1-14, February.
    2. Yiu, Chung Yim & Truong, Quan Le & Kou, Jiaying & Cheung, Ka Shing, 2024. "Retail rings of influence: Rethinking retail catchment analysis in the light of purchasing power," Journal of Retailing and Consumer Services, Elsevier, vol. 76(C).

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