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2021 | OriginalPaper | Chapter

Research on the Linkage Effect of Housing Prices in Bay Area Urban Agglomeration: A Case of Guangdong-Hong Kong-Macao Greater Bay Area

Authors : Shuting Huang, Botong Song

Published in: Proceedings of the 24th International Symposium on Advancement of Construction Management and Real Estate

Publisher: Springer Singapore

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Abstract

With the introduction of Guangdong-Hong Kong-Macao Greater Bay Area (GBA) planning, the co-construction and integration of the GBA cities will inevitably lead to the linkage of housing prices between cities. This paper is to study the spillover effect and spatial linkage effect of housing prices in the urban agglomerations of GBA based on the method of vector autoregression model, Granger causality test and spatial autocorrelation test, so as to analyze its transmission mechanism and spatial dependence of housing prices. The results show: (1) The housing prices of 11 cities in GBA have obvious spillover effect, and there are different transmission ranges among them. (2) Guangzhou has the greatest influence on the housing prices of other Bay Area cities, which is the core city of housing price transmission in GBA. (3) There is obvious spatial dependence of housing prices of urban agglomeration in GBA. Therefore, in the process of promoting the construction of GBA, the government should consider the linkage effect of housing prices between cities and make different adjustments to them when regulating the real estate market.

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Footnotes
1
The above parts shall hereinafter be collectively referred to as the “11 cities in GBA”.
 
2
The three major bays of the world: New York Bay Area, San Francisco Bay Area, and Tokyo Bay Area.
 
3
Housing samples include commercial housing, villas, affordable housing.
 
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Metadata
Title
Research on the Linkage Effect of Housing Prices in Bay Area Urban Agglomeration: A Case of Guangdong-Hong Kong-Macao Greater Bay Area
Authors
Shuting Huang
Botong Song
Copyright Year
2021
Publisher
Springer Singapore
Book
Proceedings of the 24th International Symposium on Advancement of Construction Management and Real Estate

Print ISBN: 978-981-15-8891-4

Electronic ISBN: 978-981-15-8892-1

Copyright Year: 2021

DOI
https://doi.org/10.1007/978-981-15-8892-1_41