{"id":628,"date":"2023-05-19T00:44:28","date_gmt":"2023-05-18T16:44:28","guid":{"rendered":"http:\/\/rec.hku.hk\/skkelvin\/?page_id=628"},"modified":"2025-07-09T16:10:09","modified_gmt":"2025-07-09T08:10:09","slug":"research","status":"publish","type":"page","link":"https:\/\/rec.hku.hk\/skkelvin\/research\/","title":{"rendered":"Research"},"content":{"rendered":"
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Real estate economics<\/h2>\n\n\n\n

Hi, I am Kelvin Wong. As a real estate economist, I am keen to 1) advance our understanding of real estate as a consumption good, an investment asset, and a policy instrument, and 2) discover and explain how developers, investors, occupiers, and agents behave in an \u2018inefficient\u2019 market. Research, like a coffee filter (I make pour-over coffee everyday!), is to distill information from noise, and knowledge from belief.<\/p>\n\n\n\n

Here are some of the research questions I have tried to answer. What determines real estate liquidity? How does liquidity affect transmission of price information, hence predictability of property price movements? How do short-term investors (including agents) take advantage of incomplete information? Does taxing them stabilize home prices? What determines if developers have market power in selling their new properties? How are the risks of buying pre-sale (off-plan) properties priced, and does mandating developers to disclose more information help? What governance problems does subdividing ownership create, and how is the redevelopment potential of old properties affected? What locations would enjoy higher capital appreciation during a boom? Do these locations also fall more during a bust? So on so forth.<\/p>\n\n\n\n

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