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What do we know about housing supply? The case of Hong Kong SAR

Author

Listed:
  • Charles Ka Yui Leung
  • Joe Cho Yiu Ng
  • Edward Chi Ho Tang

Abstract

The house price in the Hong Kong SAR of China is well-known to be ‘unaffordable’. This paper relates the macroeconomy with the housing market of Hong Kong and argues that the housing supply plays a vital role in explaining the phenomenon. This paper also shows that there are some practical challenges in understanding the housing supply of Hong Kong, including the potentially complicated ownership structure of real estate development. While the discussion centres on the situation of Hong Kong, its lesson may also apply to housing markets in other small open economies.

Suggested Citation

  • Charles Ka Yui Leung & Joe Cho Yiu Ng & Edward Chi Ho Tang, 2020. "What do we know about housing supply? The case of Hong Kong SAR," Economic and Political Studies, Taylor & Francis Journals, vol. 8(1), pages 6-20, January.
    • Handle: RePEc:taf:repsxx:v:8:y:2020:i:1:p:6-20
    DOI: 10.1080/20954816.2019.1691705
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    Cited by:

    1. Ying Fan & Charles Ka Yui Leung & Zan Yang, 2022. "Financial conditions, local competition, and local market leaders: The case of real estate developers," Pacific Economic Review, Wiley Blackwell, vol. 27(2), pages 131-193, May.
    2. Krzysztof Olszewski & Jacek Łaszek & Joanna Waszczuk, 2023. "An unequal reaction of housing starts to house prices in different regions of Poland," Bank i Kredyt, Narodowy Bank Polski, vol. 54(4), pages 437-458.
    3. Nicholas A. Bowman & Frank Fernandez & Solomon Fenton-Miller & Nicholas R. Stroup, 2024. "Strategically Diverse: An Intersectional Analysis of Enrollments at U.S. Law Schools," Research in Higher Education, Springer;Association for Institutional Research, vol. 65(6), pages 1163-1184, September.
    4. Stephen Malpezzi, 2023. "Housing affordability and responses during times of stress: A preliminary look during the COVID‐19 pandemic," Contemporary Economic Policy, Western Economic Association International, vol. 41(1), pages 9-40, January.
    5. Elena Druică & Rodica Ianole-Călin & Andreea-Ionela Puiu, 2023. "When Less Is More: Understanding the Adoption of a Minimalist Lifestyle Using the Theory of Planned Behavior," Mathematics, MDPI, vol. 11(3), pages 1-18, January.
    6. Benjamin Skinner & Taylor Burtch & Hazel Levy, 2024. "Variation in Broadband Access Among Undergraduate Populations Across the United States," Research in Higher Education, Springer;Association for Institutional Research, vol. 65(5), pages 827-870, August.
    7. Charles Ka Yui LEUNG, 2022. "Housing and Macroeconomics," ISER Discussion Paper 1197, Institute of Social and Economic Research, Osaka University.
    8. Saiz, Albert, 2023. "The Global Housing Affordability Crisis: Policy Options and Strategies," IZA Policy Papers 203, Institute of Labor Economics (IZA).
    9. Shizhen Wang & David Hartzell, 2021. "Real Estate Return in Hong Kong and its Determinants: A Dynamic Gordon Growth Model Analysis," International Real Estate Review, Global Social Science Institute, vol. 24(1), pages 113-138.
    10. Charles Ka Yui Leung & Kwok Ping Tsang, 2023. "A special issue on housing affordability: An introduction," Contemporary Economic Policy, Western Economic Association International, vol. 41(1), pages 7-8, January.
    11. Céline Grislain-Letrémy & Corentin Trevien, 2022. "The Long-Term Impact of Housing Subsidies on the Rental Sector: the French Example," Working papers 886, Banque de France.
    12. Sooksan Kantabutra, 2023. "What do We Know about Vision? A Sustainability Lens," Sustainability, MDPI, vol. 15(10), pages 1-27, May.
    13. E. Chéron & L. Sudbury-Riley & F. Kohlbacher, 2022. "In Pursuit of Happiness: Disentangling Sustainable Consumption, Consumer Alienation, and Social Desirability," Journal of Consumer Policy, Springer, vol. 45(2), pages 149-173, June.
    14. Jeet Agnihotri & Subhankar Mishra, 2021. "Indian Economy and Nighttime Lights," Papers 2103.03179, arXiv.org.
    15. Yung Yau & Tin Choi Cheung, 2021. "Revisiting the Concept of the Property State: Private Landowners and Suburban Development in Hong Kong," American Journal of Economics and Sociology, Wiley Blackwell, vol. 80(2), pages 427-464, March.
    16. Edward C. H. Tang, 2024. "Examining the Impacts of the Pandemic on the Housing Bubble in Hong Kong," Advances in Decision Sciences, Asia University, Taiwan, vol. 28(1), pages 27-46, March.

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