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Nexus between visitor arrivals and residential property rents in Hong Kong
Author(s) -
Chong Terence TaiLeung,
Yiu Alex WingHo
Publication year - 2019
Publication title -
pacific economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.34
H-Index - 33
eISSN - 1468-0106
pISSN - 1361-374X
DOI - 10.1111/1468-0106.12241
Subject(s) - economic rent , nexus (standard) , visitor pattern , residential property , china , mainland china , accommodation , tourism , mainland , peninsula , economics , property value , property market , business , demographic economics , geography , economy , agricultural economics , economic geography , market economy , finance , engineering , real estate , archaeology , neuroscience , computer science , embedded system , biology , programming language
The cost of living in Hong Kong is among the highest in the world. This paper investigates the effect of tourist arrivals on the residential property market in Hong Kong. It is demonstrated that the soaring number of tourists from Mainland China is pushing up property rents in Hong Kong. The substantial accommodation need generated by the increasing number of students from China is another contributing factor.