{"id":868,"date":"2020-04-28T12:14:05","date_gmt":"2020-04-28T04:14:05","guid":{"rendered":"http:\/\/localhost:8888\/?p=868"},"modified":"2025-12-25T16:49:26","modified_gmt":"2025-12-25T08:49:26","slug":"simulating-hong-kongs-office-leasing-market-via-system-dynamics-modeling","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2020\/04\/28\/simulating-hong-kongs-office-leasing-market-via-system-dynamics-modeling\/","title":{"rendered":"Simulating Hong Kong&#8217;s Office Leasing Market via System Dynamics Modeling"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"868\" class=\"elementor elementor-868\" 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-70bb6d67 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"70bb6d67\" 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-7c7d15b4\" data-id=\"7c7d15b4\" 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-4b666d9a elementor-widget elementor-widget-text-editor\" data-id=\"4b666d9a\" 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\">Simulating Hong Kong&#8217;s Office Leasing Market via System Dynamics Modeling<\/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\">Eddie Chi Man Hui and Ka Hung Yu<\/p><p class=\"title_text_large\">23 \/ 43<\/p><p class=\"title_text\">9<\/p><p class=\"title_text\">1<\/p><p class=\"title_text\">2006<\/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 introduces a combined method, on the basis of both system dynamics and econometric modeling, in forecasting the office rental values in Hong Kong. The findings suggest that the office rental values in Hong Kong appear to be more fluctuating when the price level of the office ownership market is comparatively volatile, likely due to the over-reaction of economic trends by the supply side of the property market. It is plausible to say development lags and adjustment cost, under the current land policies in Hong Kong, are the main attributes behind this phenomenon. In order to reduce the volatility on the office market, the government should relax the approval procedures concerning changing land use, and the subsequent rearrangement of premium payment. Further, the current policies on land sales need to be revised, especially concerning the application list system. Those measures could reduce the time required and the transaction cost incurred for the supply side to adjust to the ever-changing demand.<\/p><p>\u00a0<\/p><p><!-- PDF DownloadLink --><\/p><p class=\"download\"><a href=\"http:\/\/www.gssinst.org\/irer\/wp-content\/uploads\/2020\/10\/vol-9-simulating-hong-kong.pdf\"><strong>View PDF -https:\/\/doi.org\/10.53383\/100067<\/strong><\/a><\/p><div class=\"empty\">\u00a0<\/div><p><a class=\"backpage\">Back to Previous Page<\/a><\/p><\/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":"<div>\n<p class=\"title_label_large\">Author<\/p>\n<p class=\"title_label_large\">Start Page \/ End Page<\/p>\n<p class=\"title_label\">Volume<\/p>\n<p class=\"title_label\">Issue Number<\/p>\n<p class=\"title_label\">Year<\/p>\n<p class=\"title_label_large\">Publication<\/p>\n<\/div>\n<div>\n<!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p>\n<p class=\"title_text_large\"> Eddie Chi Man Hui and Ka Hung Yu<\/p>\n<p class=\"title_text_large\"> 23 \/ 43<\/p>\n<p class=\"title_text\">9<\/p>\n<p class=\"title_text\">1<\/p>\n<p class=\"title_text\">2006<\/p>\n<p class=\"title_text_large\">International Real Estate Review<\/p>\n<\/div>\n<p class=\"downloadLine\"><a href=\"https:\/\/www.um.edu.mo\/fba\/irer\/papers\/past\/Vol9_pdf\/HUI%20and%20YU(23-43).pdf\">Download Entire Article.<img src=\"https:\/\/i.ibb.co\/m8rCXNQ\/download-pdf-large.png\" alt=\"download-pdf-large\" border=\"0\"> <\/a><\/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":[144,143],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/868"}],"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=868"}],"version-history":[{"count":3,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/868\/revisions"}],"predecessor-version":[{"id":4855,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/868\/revisions\/4855"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}