01696cas a2200241 a 4500 AALejournalIMF001107 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451841756 1018-5941 BD-DhAAL BD-DhAAL Duenwald, Christoph. Property Prices and Speculative Bubbles : Evidence From Hong Kong SAR / Christoph Duenwald. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (29 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the determinants of residential property prices in Hong Kong SAR during 1980-98. It uses time-series analysis techniques to characterize price developments, establish empirical regularities, and provide measures of the deviations of actual price changes from 'trend.' The analysis suggests that at the peak of the boom, in mid-1997, the level of property prices may have been 40-45 percent above levels suggested by developments in 'fundamentals.' The analysis highlights the role of demand-side factors, and the data are not inconsistent with the notion that the property market may be subject to speculative bubbles. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2000/002 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/002/001.2000.issue-002-en.xml IMF e-Library