List of Research Topics

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</div> <script type="text/javascript"> if (typeof lycos_ad !== "undefined" && "slider" in lycos_ad) { document.write(lycos_ad['slider']); } </script>  <div id="FooterAd" style="background:#DFDCCF; border-top:1px solid #393939; clear:both; display:none; width:100%!important; position:relative; z-index:999999!important; height:90px!important"> <div class="adCenterClass" style="display:block!important; overflow:hidden; width:916px;"> <div id="footerAd_container" style="display:block!important; float:left; width:728px"> <iframe id="lycosFooterAdiFrame" style="border:0; display:block; float:left; height:96px; overflow:hidden; padding:0; width:750px"></iframe> </div> </div> </div> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" height=55 BGCOLOR="#339900" TEXT="#080000"> <div> <FONT SIZE="4" COLOR="#FFFFFF" FACE="Arial" ><B>The Jim (Dream) Could Never Come True</b></FONT><B>     </b><B>|</b><B>   </b><A HREF="index.htm" TARGET="_top" TITLE="The Jim (Dream) Could Never Come True"><U><B> Home </b></U></A></div> <div> </div> </td> </tr><tr> <td valign="top" height=425 BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <I><B>List of Research Topics</b></I></div> <bR> <div> <I>Housing Policy</I></div> <div> The role of public housing</div> <div>   would better provision of public housing draw away prospective demand for private sector - analogy in unemployment benefit - both are public welfare - but occupants from public housing will eventually revert to private sector</div> <bR> <div> Implication of selling public housing units by the Government</div> <div>   concern for intense competition for buyers both from both private and public sectors - comparison on their quality and sales restriction - find HOS sector will be hit most</div> <bR> <div> Economic competitiveness at the expense of property market?</div> <div>   local property price is cited as main reason behind HK's losing competitiveness - look in cost structure of business operation and compare living costs with other cities - result indicates that argument is partially right </div> <bR> <div> Review on Government land sales and revenue</div> <div> historic records of land sales from auction, tender, private treaty grants and lease modifications</div> <bR> <div> New mortgage relief's effect</div> <div> study on this new tax incentive - would this be a good market boaster - effect on closing up the gap between rent and mortgage   </div> <bR> <div> What will benefit the market most: home starter loan or mortgage default loan ?</div> <div> starter loan - injection of new blood to the market - in recession time owners had difficulties in meeting mortgage - risked banks' book - proposal for default loan - could prove more significant when concern for loan default far greater than market liquidity</div> <bR> <div> <I>Property Finance</I></div> <div> Property hedging</div> <div> Market downfall in 1997 - owners exposed to escalating loss with dry-up liquidity - look for hedging tools on risk indemnity - what form? - future index on property stocks - or new alternatives - developers' put option to buyers on first sell - opportunities in developing derivatives linked to physical property</div> <bR> <div> Valuation problem</div> <div> valuation assumptions rely on market comparable - evidence shows that they can not be sustained - especially when with ample future supply - price dampening effect of nearby future developments</div> <bR> <div> Investment yield and discount rate</div> <div> rental yield analysis failed to account for property boom in 1997 - the factor of expectation for price appreciation more than rental return - adoption of discount rate should differ from person to person - because each has different disposal incomes, growth rate on income, saving power etc. - individual factors are equally important than market factors e.g. Inflation & interest rate</div> <bR> <div> <I>Trend Study</I></div> <div> Market focus on apartments in Repulse Bay</div> <bR> <div> Owners' dilemma</div> <div> recent slump hits many owners - notion of `buy high and sell high' now fails - price paid two years ago now can buy new one doubling its size- but they were locked in the price trap, unable to upgrade for an unforeseeable time - is property still an investment or consumption instead? - implication to future property price </div> <bR> <div> Monthly transaction volume analysis</div> <div> split into first hand and second hand markets</div> <bR> <div> <I>Housing demand</I></div> <div> To rent or to buy?</div> <div> Gap between rental and mortgage payment is closing up - price fell more than rent - stronger desire for ownership - willing to trade off between price and quality- some renters may become owners </div> <bR> <div> Housing model</div> <div> demand from two streams - home starters and existing owners - how they were interacted in the market and its impact - affordability ratio not an ideal analysis tool - update on current situation</div> <bR> <div> Mortgage loan study</div> <div> Use HKMA's mortgage loan statistic - keep track on the activity of second hand market - projection of demand from existing ownership will trade up</div> <bR> <div> <I>Supply Side</I></div> <div> Detailed breakdown of developers' landbank, historic costs, land premium and progress estimation</div> <bR> <div> Projects on the pipeline</div> <bR> <div> <I>Innovative Property Design</I></div> <div> Flat layout design should take into account of financial need, the traditional flat layouts overlook the importance for financial planning need - in need of a rejuvenated design approach like the strata-title concept in 50s to catch sales</div> <bR> <div> Can we breakthrough the traditional design concept? </div> <bR> <div> Environmental building design concept and technology.</div> <bR> <div> Telecommunication infrastructure in residential building </div> <bR> <div> <I>Surveyor's Role</I></div> <div> Rethink on surveyor's market edge traditional businesses encroached on by other specialists - identify the strengths - look into ways to fight back</div> <bR> </td> </tr></table></body>