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Article: Housing price gradient with two workplaces - An empirical study in Hong Kong

TitleHousing price gradient with two workplaces - An empirical study in Hong Kong
Authors
KeywordsCommuting mileage
Housing demand
Price gradient
Traveling frequency
Workplaces
Issue Date2007
PublisherElsevier 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?
AbstractThe 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 Identifierhttp://hdl.handle.net/10722/81751
ISSN
2015 Impact Factor: 1.024
2015 SCImago Journal Rankings: 1.328
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorYiu, CYen_HK
dc.contributor.authorTam, CSen_HK
dc.date.accessioned2010-09-06T08:21:34Z-
dc.date.available2010-09-06T08:21:34Z-
dc.date.issued2007en_HK
dc.identifier.citationRegional Science And Urban Economics, 2007, v. 37 n. 3, p. 413-429en_HK
dc.identifier.issn0166-0462en_HK
dc.identifier.urihttp://hdl.handle.net/10722/81751-
dc.description.abstractThe 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.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/regecen_HK
dc.relation.ispartofRegional Science and Urban Economicsen_HK
dc.rightsRegional Science and Urban Economics. Copyright © Elsevier BV.en_HK
dc.subjectCommuting mileageen_HK
dc.subjectHousing demanden_HK
dc.subjectPrice gradienten_HK
dc.subjectTraveling frequencyen_HK
dc.subjectWorkplacesen_HK
dc.titleHousing price gradient with two workplaces - An empirical study in Hong Kongen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://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+Kongen_HK
dc.identifier.emailYiu, CY: ecyyiu@hkucc.hku.hken_HK
dc.identifier.authorityYiu, CY=rp01035en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.regsciurbeco.2006.11.007en_HK
dc.identifier.scopuseid_2-s2.0-33947573541en_HK
dc.identifier.hkuros127443en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33947573541&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume37en_HK
dc.identifier.issue3en_HK
dc.identifier.spage413en_HK
dc.identifier.epage429en_HK
dc.identifier.isiWOS:000246137200007-
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridYiu, CY=9248825800en_HK
dc.identifier.scopusauthoridTam, CS=7201444744en_HK

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