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Intra-metropolitan Price and Trading Volume Dynamics : Evidence from Hong Kong

Author

Listed:
  • Charles Ka Yui Leung

    (City University of Hong Kong)

Abstract

Previous studies on the office market tend to focus on either the rental market or the aggregate sale market. This paper focuses on the intra-metropolitan sale market and the office price and trading volume dynamics in Hong Kong. Buildings with higher prices are not necessarily being traded more. Office prices of different categories do not necessarily move together. On the other hand, the trading volumes of the higher class tend to Granger cause the lower class, and this conclusion is robust to alternative classifications. It is in contrast to several existing theories and directions for future research are discussed.

Suggested Citation

  • Charles Ka Yui Leung, 2008. "Intra-metropolitan Price and Trading Volume Dynamics : Evidence from Hong Kong," Finance Working Papers 22894, East Asian Bureau of Economic Research.
    • Handle: RePEc:eab:financ:22894
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    File URL: http://www.eaber.org/node/22894
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    Cited by:

    1. Deng, Yongheng & Girardin, Eric & Joyeux, Roselyne, 2018. "Fundamentals and the volatility of real estate prices in China: A sequential modelling strategy," China Economic Review, Elsevier, vol. 48(C), pages 205-222.
    2. Yongheng Deng & Eric Girardin & Roselyne Joyeux, 2015. "Fundamentals and the Volatility of Real Estate Prices in China: A Sequential Modelling Strategy," Working Papers 222015, Hong Kong Institute for Monetary Research.

    More about this item

    Keywords

    Commerical Property; Correlation;

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General

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