Housing price gradient changes between Macau and Hong Kong: a neighboring city effect
International Journal of Housing Markets and Analysis
ISSN: 1753-8270
Article publication date: 20 June 2008
Abstract
Purpose
The classical land market model assumes a one‐workplace scenario. However, with the globalization trend, travel between two workplaces is becoming more and more common. This paper therefore aims to study the housing price gradient changes between Macau and Hong Kong to test the two workplaces hypotheses.
Design/methodology/approach
The temporal‐spatial difference of housing prices between the two neighboring cities are studied by using a two‐workplace residential location choice model.
Findings
This paper found that housing price gradient from Macau to Hong Kong is flattened when more non‐resident workers traveled from Hong Kong to Macau (ceteris paribus).
Originality/value
The results have important implications for polycentric city models and provide a novel method to study neighboring city effects on housing price.
Keywords
Citation
Yim Yiu, C. (2008), "Housing price gradient changes between Macau and Hong Kong: a neighboring city effect", International Journal of Housing Markets and Analysis, Vol. 1 No. 2, pp. 195-206. https://doi.org/10.1108/17538270810877808
Publisher
:Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited