Record Details

Concentration Analysis of New Private Residential Units Market in Hong Kong

Construction Economics and Building

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Field Value
 
Title Concentration Analysis of New Private Residential Units Market in Hong Kong
 
Creator Cheung, Sai On
Levina, Brigitta
Niu, Yuhan
 
Subject Economics
Market concentration competition; barriers to entry
Market Analysis; Competition
 
Description 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.
 
Publisher UTS ePRESS
 
Contributor
 
Date 2017-06-23
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion

Public Secondary Data, Desktop Analysis
 
Format application/pdf
text/html
 
Identifier http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/5232
10.5130/AJCEB.v17i2.5232
 
Source Construction Economics and Building; Vol 17, No 2 (2017): Construction Economics and Building; 1-23
2204-9029
 
Language eng
 
Relation http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/5232/6005
http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/5232/6037
 
Coverage South-East Asia

Market Leaders
 
Rights Copyright (c) 2017 Sai On Cheung, Brigitta LEVINA, Yuhan Niu
http://creativecommons.org/licenses/by/4.0