Determinants of Residential Property Prices in Hong Kong: A Cointegration Analysis

Chung, Kenneth Hoi-Ki
August 2012
International Research Journal of Finance & Economics;8/15/2012, Issue 96, p55
Academic Journal
Based on simple investment principles and the consideration of excess liquidity, a model on Hong Kong residential property prices has been developed. By using quarterly data of Hong Kong from 1984Q1 to 2009Q4, it is found that housing rental, excess liquidity, stock price and interest rate are significant factors affecting the prices of residential housing units in Hong Kong. The former three have positive relationship whereas the latter one has negative relationship with the residential property prices.


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