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Article: Impact of political incidents, financial crises, and severe acute respiratory syndrome on Hong Kong property buyers

TitleImpact of political incidents, financial crises, and severe acute respiratory syndrome on Hong Kong property buyers
Authors
Issue Date2006
PublisherPion Ltd.. The Journal's web site is located at http://www.envplan.com/B.html
Citation
Environment and Planning B: Planning and Design, 2006, v. 33 n. 3, p. 413-433 How to Cite?
AbstractIn this paper, the first part of our study, we use a linear statistical technique to examine the impact of the announcement of China's decision to take back Hong Kong from the United Kingdom in 1982, the Tiananmen Square incident of 4 June 1989, the Asian financial crisis (AFC) of 1997, and the outbreak of severe acute respiratory syndrome (SARS) in 2003 on Hong Kong's housing market in terms of prices. A total of 11 362 residential transactions from a cluster of data for a large private-housing estate, considered to be representative of Hong Kong's private residential market, were used to test four hypotheses that evaluate the impact of shocks on property prices through the use of a hedonic price model. The influences based on the statistical findings, which satisfy the relevant goodness-of-fit tests, are (a) that the sovereignty crisis exerted immediate significant negative price effect, but property prices rebounded after a big decline when open diplomatic dialogue between the Chinese and UK governments began, (b) that the Tianamnen Square (4 June) incident had no significant price effect; (c) that the AFC caused a drastic decline in property prices; and (d) that the impact of the SARS outbreak was significantly negative for Amoy Gardens but not so for estates with fewer reported SARS cases.
Persistent Identifierhttp://hdl.handle.net/10722/168740
ISSN
2015 Impact Factor: 1.195
2015 SCImago Journal Rankings: 0.582
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLai, LWCen_US
dc.contributor.authorChau, KWen_US
dc.contributor.authorHo, DCWen_US
dc.contributor.authorLin, VYYen_US
dc.date.accessioned2012-10-08T03:31:59Z-
dc.date.available2012-10-08T03:31:59Z-
dc.date.issued2006en_US
dc.identifier.citationEnvironment and Planning B: Planning and Design, 2006, v. 33 n. 3, p. 413-433en_US
dc.identifier.issn0265-8135en_US
dc.identifier.urihttp://hdl.handle.net/10722/168740-
dc.description.abstractIn this paper, the first part of our study, we use a linear statistical technique to examine the impact of the announcement of China's decision to take back Hong Kong from the United Kingdom in 1982, the Tiananmen Square incident of 4 June 1989, the Asian financial crisis (AFC) of 1997, and the outbreak of severe acute respiratory syndrome (SARS) in 2003 on Hong Kong's housing market in terms of prices. A total of 11 362 residential transactions from a cluster of data for a large private-housing estate, considered to be representative of Hong Kong's private residential market, were used to test four hypotheses that evaluate the impact of shocks on property prices through the use of a hedonic price model. The influences based on the statistical findings, which satisfy the relevant goodness-of-fit tests, are (a) that the sovereignty crisis exerted immediate significant negative price effect, but property prices rebounded after a big decline when open diplomatic dialogue between the Chinese and UK governments began, (b) that the Tianamnen Square (4 June) incident had no significant price effect; (c) that the AFC caused a drastic decline in property prices; and (d) that the impact of the SARS outbreak was significantly negative for Amoy Gardens but not so for estates with fewer reported SARS cases.en_US
dc.languageengen_US
dc.publisherPion Ltd.. The Journal's web site is located at http://www.envplan.com/B.htmlen_US
dc.relation.ispartofEnvironment and Planning B: Planning and Designen_US
dc.titleImpact of political incidents, financial crises, and severe acute respiratory syndrome on Hong Kong property buyersen_US
dc.typeArticleen_US
dc.identifier.emailLai, LWC: wclai@hku.hken_US
dc.identifier.emailChau, KW: hrrbckw@hkucc.hku.hken_US
dc.identifier.emailHo, DCW: danielho@hku.hken_US
dc.identifier.authorityLai, LWC=rp01004en_US
dc.identifier.authorityChau, KW=rp00993en_US
dc.identifier.authorityHo, DCW=rp01001en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1068/b31125aen_US
dc.identifier.scopuseid_2-s2.0-33745165925en_US
dc.identifier.hkuros123140-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33745165925&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume33en_US
dc.identifier.issue3en_US
dc.identifier.spage413en_US
dc.identifier.epage433en_US
dc.identifier.isiWOS:000238552800007-
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridLai, LWC=7202616218en_US
dc.identifier.scopusauthoridChau, KW=24830082500en_US
dc.identifier.scopusauthoridHo, DCW=12805583800en_US
dc.identifier.scopusauthoridLin, VYY=14016322300en_US

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