A study of sub-divided units (SDUs) in Hong Kong rental market

• Published in: Habitat international Vol. 62; pp. 43 - 50
• Main Author: Huang, Yaoxuan
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01.04.2017
• Subjects: Hong Kong; Housing market; Housing rental price; Sub-divided units (SDUs); Time-on-the-market(TOM); Two stage least square (2SLS); Two stage least square (2SLS); Sub-divided units (SDUs); Hong Kong; Housing rental price; Housing market; Time-on-the-market(TOM)
• ISSN: 0197-3975; 1873-5428
• DOI: 10.1016/j.habitatint.2017.02.008

This paper is the first study to investigate the impacts of housing attributes and environmental variables on housing rental price and the-time-on- market (TOM) of sub-divided units (SDUs) in Hong Kong via statistical method. A two stage least square (2SLS) method is introduced in this paper to solve the simultaneous problem of housing rental price and TOM, which overcomes the shortcoming of estimation bias in previous studies. The findings suggest that the size of the SDUs, distance to MTR stations, vicinity to primary school, accessibility to community facilities and park are the major concerns for tenants living in SDUs. These significant results provide valuable information to the urban planners and public housing committee of Hong Kong for a better development of the public housing in the near future.