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Title: A non-statutory influence on Hong Kong porperty market - government lease conditions
Authors: Hui, ECM 
Lo, KK
Keywords: Lease conditions
Hong Kong
Property market
Issue Date: 2000
Source: The journal of building surveying, 2000, v. 2, no. 1, p. 14-20 How to cite?
Journal: The journal of building surveying 
Abstract: This study examines the effects of government lease conditions on private residential property sector in Hong Kong. Along with its other measures, the government uses land leases as a non-statutory instrument to assert its influence on the land and property markets. This paper first identifies the development conditions (controlling parameters) in government land leases and describes the ways in which they may have affected the private residential property market. We illustrate particularly how the non-statutory instrument may change real estate development with reference to supply quantity and price level. Several hypotheses are also set up to test the impacts of such non-statutory influence on the market. This study aims to provide an answer as to what has affected the supply in Hong Kong's residential property market and at the same time to alleviate the territory's long-term housing problems. The findings suggest that most of the development conditions identified as important have a statistically significant impact on the supply quantity of the private residential property market. Interestingly enough, however, none of them was found to be significant on price change.
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