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RMB and housing price in Hong Kong

Author

Listed:
  • Rita Yi Man Li
  • Kung Chun Wah
  • Beiqi Tang

Abstract

Property price is a major concern for many Hong Kong People. In the recent years, we saw a phenomenon, the continuous raising of RMB and also the Housing price in Hong Kong. In this paper, we want to examine whether there are positive correlation between the raising property price and the appreciation of RMB. Based some literatures about geographical factor to affect property value, we would determine to use the Northern District as our observation. After almost 2600 transactions from 2009 to 2014 are estimated, we find that higher exchange rate of RMB against HKD and property value of Shen Zhen will significant cause more expensive property value. Moreover, the GDP in Hong Kong is not correlated with property price in this period. It implies that the upward trend of Hong Kong property market is not caused by national income rising of Hong Kong residents.

Suggested Citation

  • Rita Yi Man Li & Kung Chun Wah & Beiqi Tang, 2017. "RMB and housing price in Hong Kong," ERES eres2017_351, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2017_351
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    More about this item

    Keywords

    Housing Price; RMB;

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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