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Chan, T K (2009) Measuring performance of the Malaysian construction industry. Construction Management and Economics, 27(12), 1231–44.

Doloi, H (2009) Analysis of pre-qualification criteria in contractor selection and their impacts on project success. Construction Management and Economics, 27(12), 1245–63.

Haroglu, H, Glass, J and Thorpe, T (2009) A study of professional perspectives on structural frame selection. Construction Management and Economics, 27(12), 1209–17.

Hui, E C-m and Ng, I (2009) Price discovery of property markets in Shenzhen and Hong Kong. Construction Management and Economics, 27(12), 1175–96.

  • Type: Journal Article
  • Keywords: price; Granger causality; generalized impulse response; property market; variance decomposition
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446190903365640
  • Abstract:
    Hong Kong and Shenzhen, while being interrelated in many aspects, have encountered different types of demand shocks throughout the past decade. This is likely due to disparities in market conditions and degrees of government regulations. In the light of such differences in property price trends, this research first investigates the relationships between housing prices and market fundamentals for both cities; and then it explores whether a housing price bubble existed for them in 2006. The results indicate that housing prices seem to have interacted abnormally with market fundamentals in recent years, especially for Shenzhen. In addition, while Shenzhen’s housing prices are mainly explained by previous housing prices and personal income, most economic indicators explain Hong Kong’s housing prices well. With regard to price bubbles, a puny bubble which amounts to as much as 4.5% of the housing price was formed in Shenzhen in 2006. In the meantime, the housing price bubble for Hong Kong had been diminished. Though currently not at dangerous levels, housing price bubbles should be taken with caution especially in today’s China, characterized by overinvestment and rapid policy changes.

Laryea, S (2009) Subcontract and supply enquiries in the tender process of contractors. Construction Management and Economics, 27(12), 1219–30.

Wang, J, Liu, J, Liao, Z and Tang, P (2009) Identification of key liability risks of supervision engineers in China. Construction Management and Economics, 27(12), 1157–73.

Ye, K, Lu, W and Jiang, W (2009) Concentration in the international construction market. Construction Management and Economics, 27(12), 1197–207.