| Autor: |
Sai On Cheung, Brigitta Levina, Yuhan Niu |
| Jazyk: |
angličtina |
| Rok vydání: |
2017 |
| Předmět: |
|
| Zdroj: |
Construction Economics and Building, Vol 17, Iss 2 (2017) |
| Druh dokumentu: |
article |
| ISSN: |
2204-9029 |
| DOI: |
10.5130/AJCEB.v17i2.5232 |
| Popis: |
The new residential property price in Hong Kong has rocketed in the last decade and has ranked within the top three metropolitan cities in the world. Housing is a necessity for most people, high residential property price has its social ramification. The rocketing price seems not solely the result of the market. As such, this raised the issue of competition in this market. This study employs Concentration Ratio and Hirfindahl-Hirschman index to evaluate the market concentration of the New Private Resident Units Market in Hong Kong. Using the best information available in the public domains and applying universal thresholds, the New Private Resident Units Market in Hong Kong is considered moderately concentrated. It is noted that the big five listed developers in Hong Kong are collectively holding a dominant position of the potential supply. Moreover, the top three have comparable market shares thus suggesting no monopoly exists. It is also found that the substantial land banks held by the five big listed developers, amount to 60% of that owned by the Government. These developers will therefore retain their dominant market power in the future. Further study is recommended to examine whether the big developers have abused their market power. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
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