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Appears in:
Pages: 3796-3807
Publication year: 2009
ISBN: 978-84-612-7578-6
ISSN: 2340-1079

Conference name: 3rd International Technology, Education and Development Conference
Dates: 9-11 March, 2009
Location: Valencia, Spain

WEALTH TRANSFER OF FORWARD PROPERTY DEVELOPMENTS

Y.P. Leung

The Hong Kong Polytechnic University (CHINA)
Property developers have increasingly used forward contracts to pre-sell their properties that are under construction in order to enhance their financial viability. This practice is prevalent especially in big cities like Hong Kong in which large-scale housing developments are popular. However, limited research has been conducted to explore the specific risks involved in forward property markets compared to that of spot property markets. This research intends to explore the forward risks embedded and how they affect the pricing mechanism of forward properties. The findings suggest that a wealth transfer has been embedded in the pricing of presale properties from the developers to the buyers taking the advantage of the asymmetric information embedded in the forward property developments.
@InProceedings{LEUNG2009WEA,
author = {Leung, Y.P.},
title = {WEALTH TRANSFER OF FORWARD PROPERTY DEVELOPMENTS },
series = {3rd International Technology, Education and Development Conference},
booktitle = {INTED2009 Proceedings},
isbn = {978-84-612-7578-6},
issn = {2340-1079},
publisher = {IATED},
location = {Valencia, Spain},
month = {9-11 March, 2009},
year = {2009},
pages = {3796-3807}}
TY - CONF
AU - Y.P. Leung
TI - WEALTH TRANSFER OF FORWARD PROPERTY DEVELOPMENTS
SN - 978-84-612-7578-6/2340-1079
PY - 2009
Y1 - 9-11 March, 2009
CI - Valencia, Spain
JO - 3rd International Technology, Education and Development Conference
JA - INTED2009 Proceedings
SP - 3796
EP - 3807
ER -
Y.P. Leung (2009) WEALTH TRANSFER OF FORWARD PROPERTY DEVELOPMENTS , INTED2009 Proceedings, pp. 3796-3807.
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