TY  - JOUR
AB  - Hong Kong is one of the most dynamic property markets in the world, and now provides the economic gateway to China. Using style analysis, the level of direct property in Hong Kong property company performance is shown to be approximately 15 per cent over 1984‐2000, with the level of direct property increasing to approximately 25 per cent in recent years. The level of direct property in Hong Kong property company performance is significantly below that seen for the USA, Europe and Australia. This highlights a number of key strategic property investment issues over 1984‐2000, relating to the level of direct property in Hong Kong property company performance. Also assesses the level of direct property at the individual property company level, as well as the property company sector level, further emphasising the strategic role of Hong Kong property companies in an investment portfolio. This research complements the previous research by Brown and Chau on excess returns in the Hong Kong property market, as well as highlighting the issues and role of both direct and indirect property for inclusion in diversified investment portfolios; these being key areas of Gerald Brown's extensive property research agenda.
VL  - 22
IS  - 6
SN  - 1463-578X
DO  - 10.1108/14635780410569498
UR  - https://doi.org/10.1108/14635780410569498
AU  - Newell Graeme
AU  - Kwong Wing Chau
AU  - Siu Kei Wong
PY  - 2004
Y1  - 2004/01/01
TI  - The level of direct property in Hong Kong property company performance
T2  - Journal of Property Investment & Finance
PB  - Emerald Group Publishing Limited
SP  - 512
EP  - 532
Y2  - 2024/04/18
ER  -