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- Publisher Website: 10.1016/j.regsciurbeco.2006.11.007
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Article: Housing price gradient with two workplaces - An empirical study in Hong Kong
Title | Housing price gradient with two workplaces - An empirical study in Hong Kong |
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Authors | |
Keywords | Commuting mileage Housing demand Price gradient Traveling frequency Workplaces |
Issue Date | 2007 |
Publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/regec |
Citation | Regional Science And Urban Economics, 2007, v. 37 n. 3, p. 413-429 How to Cite? |
Abstract | The classical land market model assumes a one-workplace scenario. However, with the globalization trend, travel between two workplaces is becoming more and more common. This paper develops a residential location choice model based on the classical land market model, but relaxes the assumption of a single workplace. The unit housing price is shown to be higher for housing which is closer to the more frequently traveled workplace, and the price gradient is also shown to have changed, with respect to the relative visiting frequencies of the workplaces. Empirical evidence is given by studying housing prices along a major railway in Hong Kong. The results have important implications on the predictive power of polycentric models. © 2006 Elsevier B.V. All rights reserved. |
Persistent Identifier | http://hdl.handle.net/10722/81751 |
ISSN | 2023 Impact Factor: 3.5 2023 SCImago Journal Rankings: 1.412 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
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dc.contributor.author | Yiu, CY | en_HK |
dc.contributor.author | Tam, CS | en_HK |
dc.date.accessioned | 2010-09-06T08:21:34Z | - |
dc.date.available | 2010-09-06T08:21:34Z | - |
dc.date.issued | 2007 | en_HK |
dc.identifier.citation | Regional Science And Urban Economics, 2007, v. 37 n. 3, p. 413-429 | en_HK |
dc.identifier.issn | 0166-0462 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/81751 | - |
dc.description.abstract | The classical land market model assumes a one-workplace scenario. However, with the globalization trend, travel between two workplaces is becoming more and more common. This paper develops a residential location choice model based on the classical land market model, but relaxes the assumption of a single workplace. The unit housing price is shown to be higher for housing which is closer to the more frequently traveled workplace, and the price gradient is also shown to have changed, with respect to the relative visiting frequencies of the workplaces. Empirical evidence is given by studying housing prices along a major railway in Hong Kong. The results have important implications on the predictive power of polycentric models. © 2006 Elsevier B.V. All rights reserved. | en_HK |
dc.language | eng | en_HK |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/regec | en_HK |
dc.relation.ispartof | Regional Science and Urban Economics | en_HK |
dc.rights | Regional Science and Urban Economics. Copyright © Elsevier BV. | en_HK |
dc.subject | Commuting mileage | en_HK |
dc.subject | Housing demand | en_HK |
dc.subject | Price gradient | en_HK |
dc.subject | Traveling frequency | en_HK |
dc.subject | Workplaces | en_HK |
dc.title | Housing price gradient with two workplaces - An empirical study in Hong Kong | en_HK |
dc.type | Article | en_HK |
dc.identifier.openurl | http://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0166-0462&volume=37&spage=413&epage=429&date=2007&atitle=Housing+Price+Gradient+with+Two+Workplaces+-+an+Empirical+Study+in+Hong+Kong | en_HK |
dc.identifier.email | Yiu, CY: ecyyiu@hkucc.hku.hk | en_HK |
dc.identifier.authority | Yiu, CY=rp01035 | en_HK |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/j.regsciurbeco.2006.11.007 | en_HK |
dc.identifier.scopus | eid_2-s2.0-33947573541 | en_HK |
dc.identifier.hkuros | 127443 | en_HK |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-33947573541&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 37 | en_HK |
dc.identifier.issue | 3 | en_HK |
dc.identifier.spage | 413 | en_HK |
dc.identifier.epage | 429 | en_HK |
dc.identifier.isi | WOS:000246137200007 | - |
dc.publisher.place | Netherlands | en_HK |
dc.identifier.scopusauthorid | Yiu, CY=9248825800 | en_HK |
dc.identifier.scopusauthorid | Tam, CS=7201444744 | en_HK |
dc.identifier.issnl | 0166-0462 | - |