Market power in Hong Kong's first-hand property market


Grant Data
Project Title
Market power in Hong Kong's first-hand property market
Principal Investigator
Dr Wong, Siu Kei   (Principal investigator)
Co-Investigator(s)
Professor Chau Kwong Wing   (Co-Investigator)
Duration
30
Start Date
2016-01-01
Completion Date
2018-06-30
Amount
531288
Conference Title
Presentation Title
Keywords
Property market, Market power, Property developers
Discipline
Building and Construction
Panel
Engineering (E)
Sponsor
RGC General Research Fund (GRF)
HKU Project Code
17201515
Grant Type
General Research Fund (GRF)
Funding Year
2015/2016
Status
On-going
Objectives
1) To investigate the conditions under which property developers (first-hand sellers) have market power to charge a price higher than the more competitive second-hand property market; 2) To develop a difference-in-differences approach that can eliminate variations due to property quality or market conditions when comparing the prices of the two markets; 3) To develop measures of product substitutability between the first and second-hand property markets in order to test the monopoly theory.