Private land use for public housing projects: The Influence of a Government Announcement on Housing Markets in Hong Kong

Liang, Cong; Hui, Eddie C.M.; Yip, Tsz Leung; Huang, Yaoxuan

doi:10.1016/j.landusepol.2020.105067

Cited by 17 publications

(10 citation statements)

References 63 publications

(110 reference statements)

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…In other words, it is equivalent to explore how are the differences of Airbnb-served areas affected housing affordability before and after Airbnb starts business in Hong Kong. In the existing literature, the difference-in-differences (DID) approach is specialized in examing the impact of the events (Fuerst et al, 2014; Huang et al, 2020; Liang et al, 2020). To be more specific, the DID model is presented as equation (1) belowwhere W it = {ln( Rent it ), ln[( Rent/Income) it ]} is the vector of indicators to measure the affordability at the SBG level, Rent it and ( Rent/Income) it refer to the housing rent and rent-to-income ratio at the i-th SBG at time t. Z it is a vector of socio-demographic attributes such as median age of the SBG, population of the SBG, percentage of the renters moved in the SBG, educational attainment, and the percentage of the labor force.…”

Section: Methodsmentioning

confidence: 99%

“…The major reason is that Hong Kong has been ranked as the least affordable city for the past eight consecutive years worldwide by an international survey (Cox, 2021; LEGCO, 2017). The second reason can be ascribed to the short supply of urban land (Liang et al, 2020), and the high demand for hotel services in recent years in Hong Kong (Televisory, 2021) may accelerate the home-sharing business. The findings and results in this study would generate some useful information to help the city planners and policymakers to make reasonable policy decisions for guiding the home-sharing business and practice in Asia.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

The impact of Airbnb on housing affordability: Evidence from Hong Kong

Liang¹,

Yeung²,

Au³

2021

Environment and Planning B: Urban Analytics and City Science

Self Cite

View full text Add to dashboard Cite

Recent years have witnessed the rapid expansion of the home-sharing business. The home-sharing services provided by Airbnb not only allow the homeowner to earn extra income by renting out part of the property to the potential renters but also provides the renters an authentic travel experience by living with residents. The emerging business model of Airbnb may bring about some uncertainties to rental housing markets. This study aims to explore an important issue – whether the home-sharing services provided by Airbnb would exacerbate the problem of housing affordability in Hong Kong. By examining the data from multiple sources such as the website of Airbnb and Census statistics from the Hong Kong Government, and housing rental transactions from property agents’ website via several econometric methods, we found that (1) the arrival of Airbnb would drive up housing rent rate around 3.6–4%; (2) The Airbnb activities would increase the rent-to-income ratio by 4%–4.7% in Hong Kong; (3) short-term home-sharing provided by Airbnb under current circumstance would lead to housing unaffordability in Hong Kong. It is suggested that regulations/guidelines on home-sharing should set a quota or limit the number of offering from long-term rentals to short-term rentals.

show abstract

Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The impact of Airbnb on housing affordability: Evidence from Hong Kong

Liang¹,

Yeung²,

Au³

2021

Environment and Planning B: Urban Analytics and City Science

Self Cite

View full text Add to dashboard Cite

show abstract

“…The "private developers' technical skills" and 'financial resources' complement those of the "Trustworthy developer." A private-sector partner contributes significantly more to the efficient execution of PPP schemes than a single contractor by making far more promises and assuming far higher risks (Liang et al, 2020). As a consequence, the participation of a reputable (technologically skilled and economically beneficial) private sector partner is vital to scheme success.…”

Section: Comparison and Lessons Learntmentioning

confidence: 99%

The Success Factor of Public-Private Partnerships in Malaysia and Nigeria's Housing Sectors

Y.M

Anuar

2022

JDBE

View full text Add to dashboard Cite

The use of public-private partnership (PPP) strategies in the delivery of public works projects has grown in popularity as an alternative delivery model, although its implementation has met with inconsistent success. Numerous studies have linked the effectiveness of public-private partnerships (PPPs) to the unique characteristics of various administrative environments. This comparative research used a case study technique to analyze the similarities and contrasts between the essential elements that determine the success of public-private partnership (PPP) housing projects in Malaysia and Nigeria. However, whereas ‘equitable risk allocation', ‘stable political system', and ‘reputable developer' are the most key success variables in Nigeria, ‘action against errant developer', ‘consistent monitoring, and homebuyer demands' are still the most crucial success aspects in Malaysia, according to the research. The results contribute to a better understanding of the environmental factors that affect the relative relevance of CSFs in public-private partnerships in underdeveloped countries.

show abstract

“…Since private housing neighbourhood changes will have an impact on nearby urban areas. Therefore, Hong Kong should seek out more available land resources in the long term to supply public housing [6].…”

Section: Literature Reviewmentioning

confidence: 99%

Skyrocketing Housing Price in Hong Kong: Stimulus and Future Directions for Development

Liu¹

2022

Advances in Economics, Business and Management Research

View full text Add to dashboard Cite

The skyrocketing housing price is a considerable urban issue in Hong Kong, China, which not only is the crucial reason for the social conflicts but also is a vital factor for enlarging the wealth gap and gentrification. However, the Hong Kong Government has failed to effectively address the problem of housing inequality. Housing prices have been steadily rising for many years. Hence, it is critical to identify driving forces behind this urgent problem and to set future direction for sustainable development. In this paper, data were selected from the Census and Statistics Department, which is the government of the Hong Kong Special Administrative Region. The method of OLS linear regression is adopted to analyze the reason why the housing price has grown consistently in Hong Kong. Female disposable income, population, and the CPI index are used as research objects in the motivations analysis. According to the results, the population and the disposable income of employed women have a significant positive impact on housing prices, whereas the CPI index has no bearing on it. In terms of the scarcity of developable land in urban areas, high-density developments combined with transit-oriented development are an emerging option for Hong Kong to cope with this situation. This study provides implications for Hong Kong, even other cities, to analyze the driving forces behind the surged housing prices and the solutions to balance the rigid demand of property and insufficient housing supply.

show abstract

Private land use for public housing projects: The Influence of a Government Announcement on Housing Markets in Hong Kong

Cited by 17 publications

References 63 publications

The impact of Airbnb on housing affordability: Evidence from Hong Kong

The impact of Airbnb on housing affordability: Evidence from Hong Kong

The Success Factor of Public-Private Partnerships in Malaysia and Nigeria's Housing Sectors

Skyrocketing Housing Price in Hong Kong: Stimulus and Future Directions for Development

Contact Info

Product

Resources

About