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The Nexus between Visitor Arrivals and Residential Property Rents in Hong Kong

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  • Chong, Terence Tai Leung
  • Yiu, Alex Wing-Ho

Abstract

Cost of living in Hong Kong is among the highest in the world. This paper investigates the effect of tourist arrivals on the residential property market in Hong Kong. It is demonstrated that the soaring number of tourists from mainland China is pushing up property rents in Hong Kong. The substantial accommodation need generated by the increasing number of students from China is another contributing factor.

Suggested Citation

  • Chong, Terence Tai Leung & Yiu, Alex Wing-Ho, 2017. "The Nexus between Visitor Arrivals and Residential Property Rents in Hong Kong," MPRA Paper 80531, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:80531
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    References listed on IDEAS

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    1. Mr. R. S Craig & Mr. Changchun Hua, 2011. "Determinants of Property Prices in Hong Kong SAR: Implications for Policy," IMF Working Papers 2011/277, International Monetary Fund.
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    Cited by:

    1. Charles Ka Yui Leung & Joe Cho Yiu Ng & Edward Tang, 2020. "Why is the Hong Kong Housing Market Unaffordable? Some Stylized Facts and Estimations," Globalization Institute Working Papers 380, Federal Reserve Bank of Dallas.
    2. Leung, Charles Ka Yui & Ng, Joe Cho Yiu & Tang, Edward Chi Ho, 2019. "What do we know about Housing Supply? The case of Hong Kong," MPRA Paper 93510, University Library of Munich, Germany.
    3. Edward C. H. Tang, 2021. "Speculate a lot," Pacific Economic Review, Wiley Blackwell, vol. 26(1), pages 91-109, February.

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    More about this item

    Keywords

    Residential property rent; Retail property rent; Instrumental variable;
    All these keywords.

    JEL classification:

    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population

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