The Construction and Related Industries in a Changing Socio-Economic Environment: The Case of Hong Kong
Author
Start Page / End Page
Volume
Issue Number
Year
Publication
Charles K. Leung, Kelvin S. Wong
139 / 172
7
1
2004
International Real Estate Review
Abstract
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 related industries. After taking into consideration of the unusual public expenditure, the construction industry seems to be “normal” in international standard. Its relationship with the aggregate economy is also examined. Directions for future research are also suggested.