We examine the effect of forward sale (pre-sale) activities on the volatility of spot prices in the real estate market. The abundance of pre-sales data and major changes in regulatory control on the pre-sale market during the 90's in Hong Kong allow us to undertake empirical tests using Hong...

We examine the effect of forward sale (pre-sale) activities on the volatility of spot prices in the real estate market. The abundance of pre-sales data and major changes in regulatory control on the pre-sale market during the 90's in Hong Kong allow us to undertake empirical tests using Hong...

This paper contributes a theoretical investigation of real estate supply adjustments in the commercial real estate market. Simple theoretical linkages between the goods market (the demand side) and the space market (the supply side) are developed and then used to explain the optimal supply...

As a first statistical study of a planning authority’s reasons for rejecting development proposals, this study examines hydraulic and transport engineering reasons adopted by the Town Planning Board for dismissing development applications for ‘small house’ use in Green Belt and Agriculture...

The positive volume‐price (return) relationship has been intensively studied and confirmed in both financial and real estate markets, yet their theoretic models offered few direct empirical support. This paper puts forward a liquidity premium model which explains the volume‐price (return)...