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What do we know about housing supply? The case of Hong Kong SAR
Date Issued
2020
Journal
ISSN
2095-4816
2470-4024
Citation
Economic and Political Studies, 2020, vol. 8(1), pp. 6-20.
Type
Peer Reviewed Journal Article
Abstract
The house price in the Hong Kong SAR of China is well-known to be 'unaffordable'. This paper relates the macroeconomy with the housing market of Hong Kong and argues that the housing supply plays a vital role in explaining the phenomenon. This paper also shows that there are some practical challenges in understanding the housing supply of Hong Kong, including the potentially complicated ownership structure of real estate development. While the discussion centres on the situation of Hong Kong, its lesson may also apply to housing markets in other small open economies.
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