This study introduces a combined method, on the basis of both system dynamics and econometric modeling, in forecasting the office rental values in Hong Kong. The findings suggest that the office rental values in Hong Kong appear to be more fluctuating when the price level of the office ownership...

Traditionally, aging Koreans would live with their eldest son’s family. However, urbanization, economic expansion, and changing demographics are contributing to South Koreans considering alternative living arrangements. One possibility is the development of seniors housing, available only on a...

In Taiwan, the housing market can be separated into the existing housing market and the pre-sales market. The existing market can be regarded as the stock market, and the pre-sales market the flow market. However, some unique characteristics exist in the Taiwan market. Based on these...

Governmental tax policies have direct consequences for public spending and the distribution of wealth among a country’s population. But unintended consequences may also occur as a result of the design of those policies. We illustrate the potential impact of such unintended consequences by...

Hong Kong is well known for its “housing market bubble”. Both theoretical and empirical studies point to the supply side being the “root of all evil”. This paper takes a preliminary step in understanding the supply side of the Hong Kong market by investigating the construction and...

This paper examines the optimal operation strategies for income properties. Specifically, the rental rate and the operating expense should be set at levels to maximize the return on investment. The results suggest that for a given demand curve of a specific rental property, there exist optimal...

Prices in the Asian residential property markets have skyrocketed over the past decade. A high rate of economic growth is one of the major reasons for the price spiral. Most Asian residential property markets are, however,concentrated and national in nature. Maintaining an artificially high...

This research examines how well nominal income, nominal interest rates and employment explain temporal variation in nominal metropolitan area house prices. Rather than use a traditional model of real house prices, we explain nominal house prices with a measure of "intrinsic" house value that...

A common puzzling phenomenon over the household survey of Taiwan is that the renters' saving rate is higher than that of the owners', while the latter has a higher average income than the former. One reason for this feature is that certain housing owners have to pay a greater amount of mortgage...