NDLI: On land supply and the price of residential housing

Content Provider	Springer Nature Link
Author	Ho, Winky K. O. Ganesan, Sivaguru
Copyright Year	1998
Abstract	This paper develops an econometric model to examine the impact of land supply on residential housing prices. Specifically, this study examines the role of population, permanent income, real mortgage interest rates, construction cost, speculative demand, land supply and government land policy in the determination of private housing prices in Hong Kong. Empirical results provide strong evidence that an increase in land supply will bring forth a decrease in housing prices. The results also reveal that housing prices are dominated by the fundamental demographic and economic factors. The relatively small response coefficients suggest that speculative demand and land supply have a significant but modest impact on housing prices.
Starting Page	439
Ending Page	452
Page Count	14
File Format	PDF
ISSN	09201580
Journal	Journal of Housing and the Built Environment
Volume Number	13
Issue Number	4
e-ISSN	15737772
Language	English
Publisher	Kluwer Academic Publishers
Publisher Date	1998-01-01
Publisher Place	Dordrecht
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Housing Landscape/Regional and Urban Planning Human Geography
Content Type	Text
Resource Type	Article
Subject	Geography, Planning and Development

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On land supply and the price of residential housing