{"id":2827,"date":"2020-10-19T11:59:29","date_gmt":"2020-10-19T03:59:29","guid":{"rendered":"http:\/\/www.gssinst.org\/irer\/?p=2827"},"modified":"2025-12-24T19:58:25","modified_gmt":"2025-12-24T11:58:25","slug":"a-link-between-east-and-west-how-the-guangzhou-shenzhen-hong-kong-express-rail-link-affects-property-prices-in-hong-kong","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2020\/10\/19\/a-link-between-east-and-west-how-the-guangzhou-shenzhen-hong-kong-express-rail-link-affects-property-prices-in-hong-kong\/","title":{"rendered":"A Link between East and West: How the Guangzhou-Shenzhen-Hong Kong Express Rail Link Affects Property Prices in Hong Kong"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2827\" class=\"elementor elementor-2827\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b084dbc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6b084dbc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-47d15be8\" data-id=\"47d15be8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-73767d13 elementor-widget elementor-widget-text-editor\" data-id=\"73767d13\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><div class=\"article_label\">Article<\/div><p class=\"article_title\">A Link between East and West: How the Guangzhou-Shenzhen-Hong Kong Express Rail Link Affects Property Prices in Hong Kong<\/p><div><p class=\"title_label_large\">Author<\/p><p class=\"title_label_large\">Start Page \/ End Page<\/p><p class=\"title_label\">Volume<\/p><p class=\"title_label\">Issue Number<\/p><p class=\"title_label\">Year<\/p><p class=\"title_label_large\">Publication<\/p><\/div><div><p><!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p><p class=\"title_text_large\">Helen X. H. Bao, Doris Ka Chuen Mok<\/p><p class=\"title_text_large\">367 \/ 395<\/p><p class=\"title_text\">23<\/p><p class=\"title_text\">3<\/p><p class=\"title_text\">2020<\/p><p class=\"title_text_large\">International Real Estate Review<\/p><\/div><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Abstract<\/p><p><!-- Abstract Content --><br \/>This study examines the impacts of the Guangzhou\u2013Shenzhen\u2013Hong Kong Express Rail Link on the residential property prices in West Kowloon, in which the terminus and only station of the Hong Kong section of the high-speed rail link is located. The express rail is characterised as being a link between Hong Kong and her motherland, China, which is a major source of buyers of property in Hong Kong. We investigate if there is an east-west connection premium introduced by\u00a0the project by examining the spatial and temporal changes of property prices in the affected areas. Based on a sample of 282,131 transactions,\u00a0this study uses the hedonic pricing and repeat sales models to examine\u00a0whether property prices in West Kowloon have increased because of the\u00a0development of the high-speed rail which signifies a link between Hong\u00a0Kong and China and whether they have dropped because of the 2019\u00a0political movements which emphasize a decoupling. We find significant\u00a0and consistent evidence to support these hypotheses from both the\u00a0hedonic price and repeat sales models. The accessibility premium has\u00a0been capitalised into property prices since the announcement of the\u00a0project, and the size of the premium is the largest during the\u00a0announcement period. However, the east-west connection premium is\u00a0significantly offset by the recent events of political unrest, with properties\u00a0that are located nearest the West Kowloon Station being the most\u00a0affected. We derive policy implications regarding practical implications\u00a0for the design and implementation of land value capture schemes and\u00a0urban planning.<\/p><p>\u00a0<\/p><p><!-- PDF DownloadLink --><\/p><p class=\"download\"><a href=\"http:\/\/www.gssinst.org\/irer\/wp-content\/uploads\/2021\/08\/v23-no3-3_A-Link-between-East-and-West_How-the-Guangzhou\u2013Shenzhen\u2013Hong-Kong-Express-Rail-Link-Affects-Property-Prices-in-Hong-Kong.pdf\"><strong>View PDF -https:\/\/doi.org\/10.53383\/100306<\/strong><\/a><\/p><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Keywords<\/p><p><!-- Keywords --><\/p><div><p class=\"keywords\">Transit Accessibility, Hedonic Price Model, Repeat Sales, Real Estate Price,\u00a0Property Value<\/p><\/div><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Article A Link between East and West: How the Guangzhou-Shenzhen-Hong Kong Express Rail Link Affects Property Prices in Hong Kong&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[208,207],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/2827"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=2827"}],"version-history":[{"count":8,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/2827\/revisions"}],"predecessor-version":[{"id":4733,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/2827\/revisions\/4733"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=2827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=2827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=2827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}