K.W. Chau

The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics

Chair Professor

Ronald Coase Centre for Property Rights Research

Pokfulam Road

Hong Kong

Hong Kong

SCHOLARLY PAPERS

40

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CITATIONS
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Top 8,334

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55

Scholarly Papers (40)

1.

A Critical Review of Literature on the Hedonic Price Model

International Journal for Housing Science and Its Applications 27 (2), 145-165, 2003
Number of pages: 18 Posted: 04 Jun 2012 Last Revised: 09 May 2016
K.W. Chau and T. L. Chin
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and affiliation not provided to SSRN
Downloads 591 (16,771)
Citation 1

Abstract:

Hedonic Price Model, Housing Attributes, Locational Attributes, Structural Attributes, Neighbourhood Attributes

Liquidity and Information Asymmetry in the Real Estate Market

Wong, S. K., Yiu, C. Y., & Chau, K. W. (2012). Liquidity and information asymmetry in the real estate market. The Journal of Real Estate Finance and Economics, 45(1), 49-62.
Number of pages: 21 Posted: 21 Jan 2010 Last Revised: 01 May 2015
University of Hong Kong, Chinese University of Hong Kong - Department of Geography and Resource Management and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 536 (41,568)

Abstract:

Information asymmetry, price, volume, land value

Liquidity and Information Asymmetry in the Real Estate Market

Journal of Real Estate Finance and Economics, Vol. 45, No. 1, 2012
Posted: 27 Jun 2012
University of Hong Kong, Chinese University of Hong Kong - Department of Geography and Resource Management and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics

Abstract:

Residential mobility, Housing equity constraint, Conditional fixed effects logit model, Loan-to-value ratio, Debt-to-income ratio, Negative equity, Japan, Recourse loan

Externalities of Urban Renewal: A Real Option Perspective

Chau, K. W., & Wong, S. K. (2014). Externalities of Urban Renewal: A Real Option Perspective. The Journal of Real Estate Finance and Economics, 48(3), 546-560.
Number of pages: 24 Posted: 08 May 2012 Last Revised: 01 May 2015
K.W. Chau and Siu Kei Wong
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and University of Hong Kong
Downloads 421 (56,341)

Abstract:

Externalities of Urban Renewal: A Real Option Perspective

Journal of Real Estate Finance and Economics, Vol. 48, No. 3, 2014
Posted: 25 Mar 2014
K.W. Chau and Siu Kei Wong
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and University of Hong Kong

Abstract:

Age effect; Externality; Redevelopment option; Transaction cost; Urban renewal

Privatization, Land Market and Land Use Conversion in China

GLOBAL PRIVATIZATION AND ITS IMPACT, Hagen, I. J. and Halvorsen, T. S., ed., Nova Science, New York, pp. 47-59, 2009
Number of pages: 14 Posted: 29 May 2012 Last Revised: 12 Nov 2012
K.W. Chau and Ho K. O. Winky
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and University of Hong Kong
Downloads 166 (152,229)
Citation 1

Abstract:

Privatization, Land Market, Transitional Economies, China

Agency Theory and Foreclosure Sales of Properties

Journal of Property Science, 1, 1, 16-24, 2008
Number of pages: 10 Posted: 29 May 2012 Last Revised: 12 Aug 2013
K.W. Chau and R. C. K. Ng
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and The University of Hong Kong
Downloads 145 (171,125)
Citation 1

Abstract:

Agency theory, foreclosure, hedonic price model, Hong Kong, residential properties

5.

Determining Optimal Building Height

Urban Studies, Vol. 44, No. 3, pp. 591-607
Number of pages: 23 Posted: 01 Apr 2009 Last Revised: 26 Dec 2012
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong, The University of Hong Kong and The University of Hong Kong
Downloads 286 (75,886)
Citation 2

Abstract:

Hedonic price, Building height, Construction cost, Property price, Hong Kong

6.

Housing Bubbles: A Tale of Two Cities

Habitat International 39(3): 8-15, DOI: 10.1016/j.habitatint.2012.10.009
Number of pages: 23 Posted: 19 May 2012 Last Revised: 26 Dec 2012
affiliation not provided to SSRN, National Chengchi University (NCCU) - Department of Land Economics and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 269 (74,882)

Abstract:

freehold, housing bubble, land tenure, leasehold, state-space model

7.

An Empirical Study of Sea View Value by Repeat Sales Method

Number of pages: 20 Posted: 09 Sep 2008
Chinese University of Hong Kong - Department of Geography and Resource Management, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and University of Hong Kong
Downloads 241 (99,131)

Abstract:

Reclamation works, Sea views, Hedonic Pricing Model, Repeat Sales

Let the Buyer or Seller Beware: Measuring Lemons in the Housing Market Under Different Doctrines of Law Governing Transactions and Information

Journal of Law and Economics, Vol. 54, No. 4, 2011
Number of pages: 36 Posted: 30 Mar 2014
K.W. Chau and Lennon HT Choy
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and Hong Kong Polytechnic University
Downloads 119 (200,461)

Abstract:

Caveat emptor, Caveat venditor, Housing Market, Information asymmetry, Property Presale

Do the Forward Sales of Real Estate Stabilize Spot Prices?

Wong, S. K., Yiu, C. Y., Tse, M. K. S., & Chau, K. W. (2006). Do the forward sales of real estate stabilize spot prices?. The Journal of Real Estate Finance and Economics, 32(3), 289-304.
Number of pages: 26 Posted: 02 Apr 2009 Last Revised: 01 May 2015
University of Hong Kong, Chinese University of Hong Kong - Department of Geography and Resource Management, The University of Hong Kong - School of Economics and Finance and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 139 (177,209)
Citation 9

Abstract:

Forward contract, GARCHmodel, Pre-sale, Price volatility

Do the Forward Sales of Real Estate Stabilize Spot Prices?

The Journal of Real Estate Finance and Economics, 32 (3), 289-304.
Number of pages: 27 Posted: 06 Nov 2005 Last Revised: 07 Jun 2012
University of Hong Kong, Chinese University of Hong Kong - Department of Geography and Resource Management, The University of Hong Kong - School of Economics and Finance and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 93 (239,204)
Citation 9

Abstract:

Forward contract, GARCH model, pre-sale, price volatility

10.

Performance of Property Companies in Hong Kong – A Style Analysis Approach

Journal of Real Estate Portfolio Management, Vol. 9, No. 1, pp. 29-44
Number of pages: 29 Posted: 02 Sep 2009
K.W. Chau, Siu Kei Wong and Graeme Newell
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong and affiliation not provided to SSRN
Downloads 177 (121,547)
Citation 1

Abstract:

Hong Kong, Property companies, Selection return, Style analysis

11.

Dynamics of the Direct and Indirect Real Estate Markets in China

Journal of Real Estate Portfolio Management, Vol. 11, No. 3, 2005
Number of pages: 29 Posted: 27 May 2012
affiliation not provided to SSRN, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong and affiliation not provided to SSRN
Downloads 175 (120,448)
Citation 4

Abstract:

China, funds management, direct real estate, listed real estate companies, risk-adjusted performance analysis, lead-lag relationships

12.

The Value of Clean Air in High Density Urban Areas

High-Rise Building Living in Asian Cities, First Edition, (A G O Yeh and B Yuen ed.), Springer Verlag, 113-128
Number of pages: 23 Posted: 14 May 2012 Last Revised: 12 Nov 2012
K.W. Chau, Siu Kei Wong, Andy T. Chan and K. Lam
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 171 (129,648)

Abstract:

Air pollution, hedonic price model, Hong Kong, property prices

13.

Transaction Volume and Price Dispersion in the Presale and Spot Real Estate Market - Implications for Construction of Repeat Sales Price Indices

Number of pages: 17 Posted: 12 Sep 2008
Chinese University of Hong Kong - Department of Geography and Resource Management, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and University of Hong Kong
Downloads 163 (130,209)
Citation 1

Abstract:

Noise trader, Price dispersion, Trading volume, Repeat-sales Model

14.

Housing Quality in the Forward Contracts Market

Journal of Real Estate Finance and Economics, Vol. 34, No. 3, 2007
Number of pages: 15 Posted: 11 Oct 2006 Last Revised: 03 Jan 2013
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong and Chinese University of Hong Kong - Department of Geography and Resource Management
Downloads 158 (137,476)
Citation 9

Abstract:

real estate forward sales, moral hazard, reputation, market efficiency

15.

What Makes Housing Owners Hold?

Number of pages: 17 Posted: 11 Sep 2008
Chinese University of Hong Kong - Department of Geography and Resource Management, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and University of Hong Kong
Downloads 152 (139,558)

Abstract:

Disposition Effect, Prospect Theory, Holding Period, Housing Markets

16.

Property Price Gradients: The Vertical Dimension

Number of pages: 27 Posted: 02 Sep 2009
University of Hong Kong, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, The University of Hong Kong and The University of Hong Kong
Downloads 147 (146,745)

Abstract:

Housing price, Hedonic model, Price gradient, Floor level, Building height

17.

Intergenerational Discounting: A Case from Hong Kong

Habitat International, Vol. 32, No. 3, pp. 283-292
Number of pages: 21 Posted: 01 Apr 2009 Last Revised: 12 Aug 2013
University of Hong Kong, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, Chinese University of Hong Kong - Department of Geography and Resource Management and Independent
Downloads 146 (148,284)

Abstract:

Sustainable development, discount rate, land value, land tenure

18.

The Value of the Provision of a Balcony in Apartments in Hong Kong

Property Management, Vol. 22, No. 3, pp. 250-264, 2003
Number of pages: 25 Posted: 02 Sep 2009
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong and Chinese University of Hong Kong - Department of Geography and Resource Management
Downloads 143 (149,073)
Citation 2

Abstract:

Balcony, environmental effect, hedonic price model, Box-Cox

Information Asymmetry and the Rent and Vacancy Rate Dynamics in the Office Market

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 31 Posted: 13 Jun 2015 Last Revised: 30 Oct 2015
K.W. Chau and Siu Kei Wong
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and University of Hong Kong
Downloads 123 (195,433)

Abstract:

Information asymmetry, Office, Rent, Transaction costs, Vacancy rate

Information Asymmetry and the Rent and Vacancy Rate Dynamics in the Office Market

Journal of Real Estate Finance and Economics, Vol. 53, No. 2, 2016
Posted: 23 Jun 2016
K.W. Chau and Siu Kei Wong
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and University of Hong Kong

Abstract:

Information asymmetry; Office; Rent; Transaction costs; Vacancy rate

20.

Comparison of the Accuracy of the Minimum-Variance Grid Method and the Least Squares Method – A Non-Linear Extension

Real Estate Valuation Theory, (Wang, K and Wolverton, M. I. ed.) American Real Estate Society Monograph Series: Resear
Number of pages: 11 Posted: 14 May 2012 Last Revised: 15 Nov 2012
K.W. Chau, F. F. Ng and W. Huang
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 122 (171,760)

Abstract:

Valuation, hedonic price model, minimum-variance grid method

21.

Excess Returns in the Hong Kong Commercial Property Market

Journal of Real Estate Research, Vol. 14, No. 2, 1997
Number of pages: 27 Posted: 27 May 2012
K.W. Chau and Gerald Brown
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and affiliation not provided to SSRN
Downloads 121 (168,885)
Citation 1

Abstract:

Excess returns, market efficiency, filter rules, Kalman filter

22.

Do Unexpected Land Auction Outcomes Bring New Information to the Real Estate Market?

Journal of Real Estate Finance and Economics, Vol. 40, No. 4, 2010
Number of pages: 28 Posted: 26 Feb 2010 Last Revised: 26 Dec 2012
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong, Chinese University of Hong Kong - Department of Geography and Resource Management, The University of Hong Kong - School of Economics and Finance and The University of Hong Kong - Department of Real Estate and Construction
Downloads 109 (177,745)

Abstract:

Information Flow, Market Responses, Land Auction, Price Signals

23.

Market Sentiments, Winner's Curse, and Bidding Outcomes in Land Auctions

Journal of Real Estate Finance and Economics, 42 (2), 247-274
Number of pages: 38 Posted: 22 Oct 2010 Last Revised: 03 Jun 2012
The University of Hong Kong - School of Economics and Finance, The University of Hong Kong - Department of Real Estate and Construction and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 107 (180,846)

Abstract:

Auction, Bidding Outcome, Market Sentiments, Winner's Curse

24.

News Effects and Structural Shifts in Price Discovery in Hong Kong

Journal of Real Estate Finance & Economics, Vol. 27, No. 2
Number of pages: 18 Posted: 05 Jun 2003 Last Revised: 18 May 2012
Gregory M. Schwann and K.W. Chau
University of Melbourne - Department of Finance and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 104 (192,286)
Citation 3

Abstract:

commercial property returns, price discovery, news effects, structural stability

25.

Trading Volume-Induced Spatial Autocorrelation in Real Estate Prices

Number of pages: 20 Posted: 11 May 2012 Last Revised: 11 Jun 2012
University of Hong Kong, Chinese University of Hong Kong - Department of Geography and Resource Management and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 103 (186,411)

Abstract:

Spatial dependence, trading volume, price discovery, real estate

26.

'Unclear' Initial Delineation of Property Boundaries and the Third Coase Theorem

Lai, Lawrence W.C., Chau, K.W. and Lorne, Frank T., 'Unclear' initial delineation of property boundaries and the third Coase Theorem. Land Use Policy, Forthcoming
Number of pages: 30 Posted: 02 May 2015
The University of Hong Kong - Department of Real Estate and Construction, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and Universitas 21 Global - Economics
Downloads 97 (181,886)

Abstract:

Coase Theorem, land boundary, land surveying, land reform, Austrian economics.

27.

Adjusting for Non-Linear Age Effects in the Repeat Sales Index

Journal of Real Estate Finance and Economics, Vol. 31, No. 2, 137-153
Number of pages: 21 Posted: 14 Jan 2005 Last Revised: 07 Jun 2012
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong and Chinese University of Hong Kong - Department of Geography and Resource Management
Downloads 93 (200,936)
Citation 7

Abstract:

Age effects, depreciation, duration, multicollinearity, repeat-sales index

28.

Volatility Transmission in the Real Estate Spot and Forward Markets

Journal of Real Estate Finance and Economics, Vol. 35, No. 3, 2007
Number of pages: 19 Posted: 27 Aug 2007 Last Revised: 19 May 2012
University of Hong Kong, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and Chinese University of Hong Kong - Department of Geography and Resource Management
Downloads 90 (202,269)
Citation 4

Abstract:

volatility spillover, pre-sale, bivariate GARCH

29.

Improving the Environment with an Initial Government Subsidy

Habitat International, Vol. 29, pp. 559-569, 2005
Number of pages: 23 Posted: 15 Sep 2008 Last Revised: 05 Jul 2014
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong and Chinese University of Hong Kong - Department of Geography and Resource Management
Downloads 89 (193,540)
Citation 1

Abstract:

Balcony, Environmental effect, Hedonic price model, Subsidy

30.

Price Discovery Function of Forward Contracts in the Real Estate Market: An Empirical Test

Journal of Financial Management of Property and Construction, Vol.8, No.3, pp.129-137
Number of pages: 15 Posted: 02 Sep 2009
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong and Chinese University of Hong Kong - Department of Geography and Resource Management
Downloads 86 (189,944)
Citation 8

Abstract:

forward contracts, pre-sales, pricing model, price discovery, market efficiency

31.

Transaction Volume and Price Dispersion in the Presale and Spot Real Estate Markets

Yiu, C.Y., Wong, S. K. and Chau, K. W. (2009) "Transaction volume and price dispersion in the presale and spot real estate markets", Journal of Real Estate Finance and Economics, 38 (3), 241-253. 2009
Number of pages: 23 Posted: 09 Nov 2008 Last Revised: 04 Jun 2012
Chinese University of Hong Kong - Department of Geography and Resource Management, University of Hong Kong and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 82 (221,770)

Abstract:

noise trader, price dispersion, presale, trading volume, repeat-sales model

IPO Location as a Quality Signal: The Case of Chinese Developers

(2014) The Journal of Real Estate Finance and Economics, 49(4), 551-567.
Number of pages: 29 Posted: 30 Oct 2015
Siu Kei Wong, Qian Wei and K.W. Chau
University of Hong Kong, The University of Hong Kong and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 48 (345,301)

Abstract:

IPO, location, signaling, underpricing

IPO Location as a Quality Signal: The Case of Chinese Developers

Journal of Real Estate Finance and Economics, Vol. 49, No. 4, 2014
Posted: 14 Nov 2014 Last Revised: 19 Jun 2015
Siu Kei Wong, Q. L. Wei and K.W. Chau
University of Hong Kong, Independent and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics

Abstract:

IPO; Location; Signaling; Underpricing

33.

Land Auctions with Budget Constraints

Number of pages: 36 Posted: 14 Oct 2014 Last Revised: 05 Sep 2016
Hang Seng Management College, The University of Hong Kong - Department of Real Estate and Construction and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics
Downloads 48 (239,152)

Abstract:

Auction Theory, Budget constraints, Land Auctions, Bidding Strategy

34.

Informal Land Registration Under Unclear Property Rights: Witnessing Contracts, Redevelopment, and Conferring Property Rights

Land Use Policy, Forthcoming
Number of pages: 27 Posted: 26 Sep 2015 Last Revised: 27 Oct 2015
The University of Hong Kong - Department of Real Estate and Construction, Universitas 21 Global - Economics, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and The University of Hong Kong
Downloads 5 (253,405)

Abstract:

35.

Repeated Planning Applications by Developers under Statutory Zoning: A Hong Kong Case Study of Delays and Design Improvements in Private Residential Development

Land Use Policy, Vol. 57, pp. 709-718, 2016
Number of pages: 29 Posted: 17 Aug 2016
The University of Hong Kong - Department of Real Estate and Construction, Prof, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and The University of Hong Kong
Downloads 0 (436,563)

Abstract:

Zoning, Delay in Development, Housing Supply, Hoarding, Innovations

36.

International Real Estate Markets

Chau, K. W., Wong, S. K. & Yiu, C. Y. (2014). International Real Estate Markets. In Public Real Estate Markets and Investments, (ed. Baker, H. K. and Chinloy, P.), Oxford University Press, 37-58.
Number of pages: 23 Posted: 15 Aug 2016
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, University of Hong Kong and Chinese University of Hong Kong - Department of Geography and Resource Management
Downloads 0 (300,707)

Abstract:

Real Estate, REIT, Securitized real estate, diversificaiton, international markets

37.

Hedonic Price Modelling of Environmental Attributes: A Review of the Literature and a Hong Kong Case Study

Chau, K. W., Yiu, C. Y., Wong, S. K., & Lai, L. W. C. (2003). Hedonic price modelling of environmental attributes: a review of the literature and a Hong Kong case study. Understanding and implementing sustainable development, 87-110.
Number of pages: 24 Posted: 15 Aug 2016
The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics, Chinese University of Hong Kong - Department of Geography and Resource Management, University of Hong Kong and The University of Hong Kong - Department of Real Estate and Construction
Downloads 0 (324,714)
Citation 1

Abstract:

air pollution, comprehensive development area (CDA), cultural attributes, environmental attributes, externality, hedonic price model, Hong Kong, land use, locational attributes, neighbourhood effects, property values, sustainable development, urban planning, view, zoning

38.

The Rise and Fall of the Sand Monopoly in Colonial Hong Kong

Ecological Economics, Vol. 128, 2016
Number of pages: 36 Posted: 09 May 2016
The University of Hong Kong - Department of Real Estate and Construction, The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics and Universitas 21 Global - Economics
Downloads 0 (403,206)

Abstract:

Schumpeterian innovation, transaction costs, open access property, sand, state monopoly

39.

Trading Volume-Induced Spatial Autocorrelation in Real Estate Prices

Journal of Real Estate Finance and Economics, Vol. 46, No. 4, 2013
Posted: 20 Mar 2013 Last Revised: 19 Jun 2015
C. Y. Yiu and K.W. Chau
Hong Kong University of Science & Technology (HKUST) and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics

Abstract:

Spatial dependence, Trading volume, Price discovery, Real Estate

40.

Can Liquidity Explain Spatial Dependence in Real Estate Prices?

46th Annual AREUEA Conference Paper
Posted: 01 Dec 2010
University of Hong Kong, Chinese University of Hong Kong - Department of Geography and Resource Management and The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics

Abstract: