BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//RCCPRR - ECPv4.9.8//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:RCCPRR
X-ORIGINAL-URL:https://fac.arch.hku.hk/rccprr
X-WR-CALDESC:Events for RCCPRR
BEGIN:VTIMEZONE
TZID:Asia/Hong_Kong
BEGIN:STANDARD
TZOFFSETFROM:+0800
TZOFFSETTO:+0800
TZNAME:HKT
DTSTART:20150101T000000
END:STANDARD
TZID:UTC
BEGIN:STANDARD
TZOFFSETFROM:+0000
TZOFFSETTO:+0000
TZNAME:UTC
DTSTART:20180101T000000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20151027T223000
DTEND;TZID="Asia/Hong_Kong":20151027T223000
DTSTAMP:20260306T113700
CREATED:20190722T134405Z
LAST-MODIFIED:20190813T083437Z
UID:153-1445985000-1445985000@fac.arch.hku.hk
SUMMARY:Unconventional Monetary Policy and U.S. Housing Markets Dynamics
DESCRIPTION:Speaker: Professor J. Sa-Aadu\, University of Iowa \nWorkshop paper for download \n
URL:https://fac.arch.hku.hk/rccprr/event/unconventional-monetary-policy-and-u-s-housing-markets-dynamics/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20151111T123000
DTEND;TZID="Asia/Hong_Kong":20151111T140000
DTSTAMP:20260306T113700
CREATED:20190722T134301Z
LAST-MODIFIED:20190813T083431Z
UID:151-1447245000-1447250400@fac.arch.hku.hk
SUMMARY:The Role of Higher Education in China’s Inclusive Urbanization
DESCRIPTION:Speaker: Dr. Victor Li\, Assistant Professor\, Hang Sang Management College \nAll are welcome.  Light lunch will be provided on first-come-first served basis.  Please register HERE. \nWorkshop paper for download \n
URL:https://fac.arch.hku.hk/rccprr/event/the-role-of-higher-education-in-chinas-inclusive-urbanization/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20151118T123000
DTEND;TZID="Asia/Hong_Kong":20151118T140000
DTSTAMP:20260306T113700
CREATED:20190722T134205Z
LAST-MODIFIED:20190813T083426Z
UID:148-1447849800-1447855200@fac.arch.hku.hk
SUMMARY:Institutions and Capital Structure: The Case of Chinese Property Firms
DESCRIPTION:Speaker: Ms Deng Kuangkuang\, Department of Real Estate and Construction\, The University of Hong Kong \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \nWorkshop paper for download \n
URL:https://fac.arch.hku.hk/rccprr/event/institutions-and-capital-structure-the-case-of-chinese-property-firms/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20151221T123000
DTEND;TZID="Asia/Hong_Kong":20151221T140000
DTSTAMP:20260306T113700
CREATED:20190722T134056Z
LAST-MODIFIED:20190813T083415Z
UID:146-1450701000-1450706400@fac.arch.hku.hk
SUMMARY:The Other Side of Value: The Quality Premium in Real Estate Returns
DESCRIPTION:Speaker: Professor Chinmoy Ghosh\, Professor and Head of Department of Finance\, University of Connecticut \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \nWorkshop paper for download \n
URL:https://fac.arch.hku.hk/rccprr/event/the-other-side-of-value-the-quality-premium-in-real-estate-returns/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160204T123000
DTEND;TZID="Asia/Hong_Kong":20160204T140000
DTSTAMP:20260306T113700
CREATED:20190722T133957Z
LAST-MODIFIED:20190813T083411Z
UID:144-1454589000-1454594400@fac.arch.hku.hk
SUMMARY:Comparing Estimators
DESCRIPTION:Speaker: Dr. Paul Anglin\, Associate Professor\, College of Business and Economics\, University of Guelph\, Canada. \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \n
URL:https://fac.arch.hku.hk/rccprr/event/comparing-estimators/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160225T123000
DTEND;TZID="Asia/Hong_Kong":20160225T140000
DTSTAMP:20260306T113700
CREATED:20190722T133853Z
LAST-MODIFIED:20190813T083402Z
UID:142-1456403400-1456408800@fac.arch.hku.hk
SUMMARY:Transaction Costs (TCs) Challenges in Delivering Green Building Projects: a case of Hong Kong
DESCRIPTION:Speaker: Dr. Queena Qian\, Assistant Professor\, OTB Research for the Built Environment\, Faculty of Architecture and the Built Environment\, Delft University of Technology\, The Netherlands. \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \nWorkshop paper for download \n
URL:https://fac.arch.hku.hk/rccprr/event/transaction-costs-tcs-challenges-in-delivering-green-building-projects-a-case-of-hong-kong/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160310T123000
DTEND;TZID="Asia/Hong_Kong":20160310T140000
DTSTAMP:20260306T113700
CREATED:20190722T133758Z
LAST-MODIFIED:20190813T083356Z
UID:140-1457613000-1457618400@fac.arch.hku.hk
SUMMARY:The co-movement and contagion effect on real estate investment trusts prices in Asia
DESCRIPTION:Speakers: Dr. Rita Yi Man Li\, Associate Professor\, Department of Economics and Finance\, Shue Yan University and Chow Sheung Chi\, Research Assistant\, Department of Mathematics\, The Chinese University of Hong Kong \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \nWorkshop paper for download \n
URL:https://fac.arch.hku.hk/rccprr/event/the-co-movement-and-contagion-effect-on-real-estate-investment-trusts-prices-in-asia/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160324T123000
DTEND;TZID="Asia/Hong_Kong":20160324T140000
DTSTAMP:20260306T113700
CREATED:20190722T133708Z
LAST-MODIFIED:20190813T083344Z
UID:138-1458822600-1458828000@fac.arch.hku.hk
SUMMARY:Lowering Institutional Costs by Relationship Management: A Study of the Critical Success Factors in PPP Projects
DESCRIPTION:Speakers: Dr. Jacky Chung\, Assistant Professor\, Department of Building\, National University of Singapore \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \nDownload workshop paper at: http://dx.doi.org/10.1016/j.ijproman.2013.05.004 (may require login) \n
URL:https://fac.arch.hku.hk/rccprr/event/lowering-institutional-costs-by-relationship-management-a-study-of-the-critical-success-factors-in-ppp-projects/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160420T143000
DTEND;TZID="Asia/Hong_Kong":20160420T160000
DTSTAMP:20260306T113700
CREATED:20190722T133611Z
LAST-MODIFIED:20190813T083329Z
UID:136-1461162600-1461168000@fac.arch.hku.hk
SUMMARY:Retails Property Investment in Hong Kong
DESCRIPTION:Speaker: Prof. K.W. Chau\, Chair Professor of Real Estate and Construction\, The University of Hong Kong \nAll are welcome. \n
URL:https://fac.arch.hku.hk/rccprr/event/retails-property-investment-in-hong-kong/
LOCATION:KB526\, Knowles Building\, HKU\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160428T123000
DTEND;TZID="Asia/Hong_Kong":20160428T140000
DTSTAMP:20260306T113700
CREATED:20190722T133521Z
LAST-MODIFIED:20190813T083304Z
UID:134-1461846600-1461852000@fac.arch.hku.hk
SUMMARY:On the Value Added by Operating Lessor: the Case of Aircraft Leasing Market
DESCRIPTION:Speaker:Dr. Laura Yao\, Department of Real Estate and Construction\, The University of Hong Kong \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \n
URL:https://fac.arch.hku.hk/rccprr/event/on-the-value-added-by-operating-lessor-the-case-of-aircraft-leasing-market/
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160615T123000
DTEND;TZID="Asia/Hong_Kong":20160615T140000
DTSTAMP:20260306T113700
CREATED:20190722T133442Z
LAST-MODIFIED:20190813T083248Z
UID:132-1465993800-1465999200@fac.arch.hku.hk
SUMMARY:Governance on flood risk management and climate change adaptations: the cases of Chinese coastal megacities
DESCRIPTION:Speaker: Dr. Faith Chan\, University of Nottingham\, UK and Ningbo campuses \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \n
URL:https://fac.arch.hku.hk/rccprr/event/governance-on-flood-risk-management-and-climate-change-adaptations-the-cases-of-chinese-coastal-megacities/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160620T123000
DTEND;TZID="Asia/Hong_Kong":20160620T140000
DTSTAMP:20260306T113700
CREATED:20190722T133356Z
LAST-MODIFIED:20190903T061626Z
UID:130-1466425800-1466431200@fac.arch.hku.hk
SUMMARY:Ronald Coase and His Elders at London School of Economics
DESCRIPTION:Speaker: Dr. Ning Wang\, The Ronald Coase Institute \nTHE SPEAKER \nNing Wang\, with B.S. from Beijing University and Ph.D. from University of Chicago\, is editor-in-chief of Man and the Economy: the Journal of the Coase Society\, Senior Fellow of Ronald Coase Institute and International Director of the Ronald Coase Center for the Study of the Economy at Zhejiang University. In 2012\, he co-authored How China Became Capitalist with the late Nobel laureate\, Ronald Coase. Dr. Wang has been collecting materials to write an intellectual biography of Coase. \n  \nABSTRACT \nRonald Coase (1910-2013) was first a student and later a junior faculty member at LSE during the 1930s and 1940s. He left LSE in 1951 for University of Buffalo\, partly because his work was not appreciated. Among his elders at LSE\, Lionel Robbins (1898-1984) was head of the department and a leading British economist himself\, under whose leadership LSE became the world’s most prominent powerhouse in economic research before WWII. F. A. Hayek (1899-1992) was a leading Austrian economist with international recognition\, who would become one of the most influential economists of the 20th century. Arnold Plant (1898-1978)\, Coase’s mentor\, had the most influence on Coase professionally and intellectually\, though Plant was a marginal figure at LSE and the least known among the three. While Coase held quite cordial relations with both Robbins and Hayek\, neither\, according to Coase\, showed much interest in his work. To his pleasant surprise\, Coase\, right before he passed away\, found the letters Hayek wrote nominating him for the Nobel Prize in economics from 1978 to 1984; Coase seemed to be the only economist nominated by Hayek for the Prize. A letter of recommendation written by Robbins in 1950 recently came to our attention\, in which Robbins praised Coase as one of “the top two or three” British economists of his generation. Coase would be equally surprised had he had a chance to read the recommendation. Actually\, Coase probably would have stayed at LSE had he known Robbins’s high opinion of him. If Coase’s elders at LSE\, Hayek\, Robbins and Plant\, all highly appreciated his work\, it becomes even more puzzling why Coase remained a dissent in modern economics\, while his ideas laid the foundation for the development of “law and economics” and the new institutional economics. \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \n
URL:https://fac.arch.hku.hk/rccprr/event/ronald-coase-and-his-elders-at-london-school-of-economics/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160623T123000
DTEND;TZID="Asia/Hong_Kong":20160623T140000
DTSTAMP:20260306T113700
CREATED:20190722T133309Z
LAST-MODIFIED:20190903T061629Z
UID:128-1466685000-1466690400@fac.arch.hku.hk
SUMMARY:Eminent Domain in American History and Current Practice
DESCRIPTION:Speaker: Prof. Wendell Pritchett\, Presidential Professor of Law and Education\, University of Pennsylvania Law School \nABSTRACT \nIn the past decade\, following the United States Supreme Court’s decision in Kelo v. New London\, the issue of eminent domain (typically called “expropriation” in other countries) has received a great deal of attention among American legal academics\, policy makers and the general public.  In this presentation\, Prof. Pritchett will examine the historical development of eminent domain in United States law and economic policy and examine current debates over its use. \n  \nTHE SPEAKER \nWendell Pritchett is Presidential Professor of Law and Education at Penn. A Penn Law professor from 2001-09\, Pritchett served as Interim Dean of the law school from July 1\, 2014 to June 30\, 2015. From 2009-2014\, Pritchett served as Chancellor of Rutgers-Camden\, and in 2008 he served as Deputy Chief of Staff and Director of Policy for Philadelphia Mayor Michael Nutter\, who also appointed him to the School Reform Commission\, where he served from 2011-14. He has written two books\, and his research examines the development of post-war urban policy\, in particular urban renewal\, housing finance\, and housing discrimination. Pritchett has specialized in real estate and housing law\, representing nonprofit organizations involved in the development of affordable housing. \nAll are welcome. Light lunch will be provided on first-come-first-served basis. \n
URL:https://fac.arch.hku.hk/rccprr/event/eminent-domain-in-american-history-and-current-practice/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20160629T143000
DTEND;TZID="Asia/Hong_Kong":20160629T160000
DTSTAMP:20260306T113700
CREATED:20190722T133220Z
LAST-MODIFIED:20190903T061633Z
UID:126-1467210600-1467216000@fac.arch.hku.hk
SUMMARY:Real Estate Market Transparency in the Asia-Pacific Real Estate Market
DESCRIPTION:Speaker: Prof. Graeme Newell\, University of Western Sydney \nTHE SPEAKER \nGraeme Newell is Professor of Property Investment in the School of Business at the University of Western Sydney. He is actively involved in property research and has strong links to the property industry\, both in Australia and internationally. Graeme has published extensively in the leading property journals\, as well as receiving numerous research grants from AHURI\, APREA\, EPRA\, API and IPF etc. He has had many PhD completions\, as well as receiving many awards for his contributions to property research and property education. \n  \nABSTRACT \nImproved real estate market transparency is fundamental to innovation in the real estate sector. Importantly\, a key ingredient for increased investor confidence in the Asia-Pacific real estate markets has been the improved real estate market transparency in the Asia-Pacific markets in recent years. Using the JLL global real estate transparency index\, countries are classified as high transparency\, transparent\, semi-transparent\, low transparency and opaque. \nThis paper assesses changes in the real estate transparency for 20 Asia-Pacific real estate markets over 2001-2014. This is also assessed in a regional and global real estate market context. Differences in real estate transparency between the developed and emerging Asia-Pacific markets are also highlighted. The positioning of Hong Kong and China in the global and Asia-Pacific real estate market transparency context is also discussed. \n
URL:https://fac.arch.hku.hk/rccprr/event/real-estate-market-transparency-in-the-asia-pacific-real-estate-market/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="UTC":20180621T123000
DTEND;TZID="UTC":20180621T140000
DTSTAMP:20260306T113700
CREATED:20190902T084619Z
LAST-MODIFIED:20190902T084623Z
UID:475-1529584200-1529589600@fac.arch.hku.hk
SUMMARY:Cognitive Reference Points\, the Left-Digit Effect\, and Clustering in Housing Markets Speaker: Prof. Vincent Yao\, AREA Professor of Real Estate\, Director of Real Estate Center and Director of the College PhD Program\, Robinson College of Business\, Georgia State University
DESCRIPTION:THE SPEAKER \nProf. Vincent Yao is the AREA Professor of Real Estate\, Director of Real Estate Center and Director of the College PhD Program in the Robinson College of Business at Georgia State University in Atlanta GA\, USA. He is also a senior research fellow at Federal Reserve Bank of Atlanta\, a research fellow at Hong Kong Monetary Authority\, and holds visiting chair professorship at several universities in China. He received his BA from Renmin University of China and PhD in Economics from State University of New York at Albany. \nPrior to joining GSU\, he spent over nine years as a director in Fannie Mae\, responsible for overseeing a credit portfolio of $3 trillion loans guaranteed and securitized by the company. He was also the business sponsor of corporate models used in credit risk functions. \nHis current research interests are household finance\, real estate finance\, and housing policies. His papers have been published in the American Economic Review\, Journal of Financial Economics\, Management Science\, Journal of Urban Economics\, Real Estate Economics\, and Journal of Financial Intermediation etc. He is currently on the editorial board of Real Estate Economics – the leading journal in real estate. \nHis recent research has focused on the following areas: \n\nSpillover Effect of Foreclosures\nTransmission of Monetary and Other Policies to Households\nFinancial Decision Making of Households\nRole of Financial Intermediaries\n\nABSTRACT \nUsing a quasi-experimental setting of two similar properties listed only $100 apart\, but with a different left digit\, we document that properties listed with smaller left digits are 3.8% more likely to sell\, stay 5% fewer days on market\, and sell for 0.1% more. Buyers of these homes are more likely to have a lower credit score\, lower income\, higher leverage and pay higher interest rates on their mortgage. In addition\, these buyers also resell for a lower rate of return\, and are more sluggish in refinancing their mortgages. Our results highlight how behavioral biases can affect even high-value purchases such as housing. \n
URL:https://fac.arch.hku.hk/rccprr/event/cognitive-reference-points-the-left-digit-effect-and-clustering-in-housing-markets-speaker-prof-vincent-yao-area-professor-of-real-estate-director-of-real-estate-center-and-director-of-the-colle/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20181107T123000
DTEND;TZID="Asia/Hong_Kong":20181107T123000
DTSTAMP:20260306T113700
CREATED:20190902T084508Z
LAST-MODIFIED:20190917T092157Z
UID:472-1541593800-1541593800@fac.arch.hku.hk
SUMMARY:Price and Trading Volume in Real Estate Markets
DESCRIPTION:\n\n\n\n\nTHE SPEAKER Dr. Zhenguo (Len) Lin received his PhD from University of Wisconsin\, Madison. His research is mainly focused on pricing illiquidity of private assets\, mortgage markets\, and housing market dynamics. Dr. Lin was ranked 4th globally for the period of 2013-2017 based on the most recent ranking in real estate research (Saginor 2017\, Journal of Real Estate Literature). In 2013\, he received the William N. Kinnard Young Scholar Award\, an international recognition for making significant contributions in his field. His recent studies include immigrants and mortgage delinquency as well as racial discrimination in mortgage costs. His work “Spillover Effects of Foreclosures on Neighborhood Property Values”\, which appeared in the 2009 Journal of Real Estate Finance and Economics\, has proven invaluable in predicting the recent housing crisis. The paper has been heavily cited by over 300 academic studies. It has also garnered much recognition outside of the academic community – the paper was cited by former Federal Reserve Chairman Ben Bernanke in his speech at the Global Financial Literacy Summit on June 17\, 2009 in Washington\, DC.   Prior to joining the faculty of Florida International University\, Dr. Lin was a Full Professor of Finance and Associate Director of Real Estate and Land Use Institute at California State University\, Fullerton. He also taught at Mississippi State University and worked as Sr. Economist at Fannie Mae.   ABSTRACT This study presents an alternative theory to explain the widely documented positive price-volume correlation in the housing market. Unlike some earlier theories that hinges upon the presumption of sellers’s equity constraints such as down payment requirement\, or aversion to nominal losses\, we present a simple search model in which a rational seller with non-trivial search cost seeks to optimize his selling objective. We develop a set of closed-form solutions which conclusively shows that the positive price-volume correlation at the macro market level is merely the result of individual sellers (rationally) seeking optimal selling outcomes at the micro market level. This conclusion holds true under alternative search model and regardless the presence (or absence) of sellers’ equity constraints. The results reveal rich insights into the intricate relation- ships between housing price\, time-on-market\, and trading volume. It lends theoretical support to a number of prior empirical studies and offers reconciliation to some of the conflicting findings. \n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n
URL:https://fac.arch.hku.hk/rccprr/event/price-and-trading-volume-in-real-estate-markets/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20181128T123000
DTEND;TZID="Asia/Hong_Kong":20181128T140000
DTSTAMP:20260306T113700
CREATED:20190902T084411Z
LAST-MODIFIED:20190917T092015Z
UID:470-1543408200-1543413600@fac.arch.hku.hk
SUMMARY:Outshine to Outbid: Weather-Induced Sentiment and the Housing Mark
DESCRIPTION:THE SPEAKER \nProf. Maggie Hu is currently an Assistant Professor of Real Estate and Finance at The Chinese University of Hong Kong (CUHK)\, jointly appointed by the School of Hotel and Tourism Management & Department of Finance. Her main research interests include real estate economics\, banking and corporate finance. Her research papers have been presented at several international finance and real estate conferences\, and published in top finance and real estate journals such as Journal of Financial and Quantitative Analysis and Real Estate Economics. She received both her PhD in Finance in 2013 and Bachelor of Engineering Degree from National University of Singapore in 2008. Prior to joining CUHK in 2016\, she worked at University of New South Wales (UNSW)\, Australia for three years. \n  \nABSTRACT \nThis paper examines how sentiment affects homebuyers’ decisions in housing transactions\, focusing on auction sales. Utilizing housing transaction data in Sydney from 2000 to 2014\, we find that transaction prices are significantly higher for auction sales compared to private sales\, consistent with the notion of ‘winner’s curse’. Further\, employing four sentiment proxies\, including three weather-based sentiment proxies and a survey-based sentiment index\, we show that higher sentiment is associated with higher transaction price\, especially in auction sales. Sentiment boosts auction sale price particularly when the housing market is in boom\, or the purpose of the property purchase is for investment. Our result is robust to using national sport events as sentiment shocks\, selection bias\, and participation constraints. Overall\, our evidence suggests that sentiment affects homebuyers’ housing market decisions. \n
URL:https://fac.arch.hku.hk/rccprr/event/outshine-to-outbid-weather-induced-sentiment-and-the-housing-mark/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20190108T143000
DTEND;TZID="Asia/Hong_Kong":20190108T160000
DTSTAMP:20260306T113700
CREATED:20190722T133113Z
LAST-MODIFIED:20190902T084317Z
UID:123-1546957800-1546963200@fac.arch.hku.hk
SUMMARY:Peer Effects and Networks in Technology Adoption For Real Estate Agents
DESCRIPTION:Speaker: Prof. ONG Seow Eng\, National University of Singapore \nTHE SPEAKER\nSeow Eng ONG is Professor of Real Estate at the National University of Singapore. He holds a PhD in Finance and Master in Business from Indiana University and his research interests include Real Estate Investment Trusts\, securitized real estate\, auctions\, housing finance and affordability\, and real estate innovations. As a CFA charter holder\, Prof. ONG has substantial work experience in investment and portfolio management\, derivative analysis and property valuation during his stints with the Inland Revenue Authority\, Government of Singapore Investment corporation and Overseas Union Bank. He was an independent director of Cambridge Industrial Trust\, a real estate investment trust listed on the Singapore Exchange. He was also past president of the Asian Real Estate Society and International Real Estate Society. \nABSTRACT\nReal estate agencies face headwinds from increasing competition from property listing portals and emerging disruptive innovation. One agency in Singapore took an unprecedented move to introduce non-mandatory reviews and ratings for its agents. The Property Agent Review (PAR) allows clients to provide authentic unfiltered and unedited reviews on agents. The benefits for prospective clients are clear – better information\, improved transparency and lower information asymmetry. As negative reviews pose a considerable risk for agents\, individual agents get to decide whether to participate in the PAR or not. Initial adoption rate was low\, but subsequently picked up. This paper focuses on late(r) adopters and examines whether late adopters are influenced by peers from organized teams/network. In addition\, the effect of team leaders is also analyzed. \n
URL:https://fac.arch.hku.hk/rccprr/event/peer-effects-and-networks-in-technology-adoption-for-real-estate-agents/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20190130T120000
DTEND;TZID="Asia/Hong_Kong":20190130T140000
DTSTAMP:20260306T113701
CREATED:20190722T133058Z
LAST-MODIFIED:20190903T061612Z
UID:121-1548849600-1548856800@fac.arch.hku.hk
SUMMARY:Financing Transit Oriented Development in Chinese cities by Value Capture: Negotiating Better Public Infrastructure
DESCRIPTION:Speaker: Prof. Erwin van der Krabben\, Professor of Urban Planning and Property Development\, Radboud University \nTHE SPEAKER \nProf. Erwin van der Krabben is a Professor of Urban Planning and Property Development at the Radboud University.  He is also a Visiting Professor in the Department of Real Estate and Construction and Department of Planning and Urban Design at HKU.  He is a leading international scholar on transit-oriented development\, land readjustment\, value capture and developer’s obligations etc.  Professionally\, Prof. Erwin Van der Krabben regularly advices to local\, regional and national authorities on land policy\, value capturing and transit oriented developments and is frequently invited to address both national and international audiences (industry and government) on topics like value capturing and transit oriented developments. Currently he participates in a national think tank to the Minister of Planning\, to explore solutions and new approaches to land and real estate development. \n  \nABSTRACT \nA recent World Bank report warns of the increasing problems of car-dependent urbanization (Suzuki et al.\, 2015)\, particularly in rapidly growing cities in developing countries. The integration of transport and urban development at public transport nodes and networks\, or ‘Transit-Oriented urban Development’ (TOD) is a popular strategy that potentially contributes to sustainable urban development. Financing of TOD strategies in Chinese cities and elsewhere is often based on some sort of value capture mechanism. Partly as a response to the current transitional context\, many Chinese cities often make use of innovative but informal land value capture instruments to meet the demand of public infrastructure\, finding ways to bypass formal procedures underlying processes of land leasing. Informality has become an effective strategy by public sectors in China to deal effectively with changing situations (Webster et al.\, 2016). However\, Kreibich (2012) explains that informality might be the symbol of public authorities’ inability to regulate and guide rapid urban growth\, and the gap left has to be filled by informal institutions. Therefore\, it is important to identify the origin and effect of informality in order to figure out possible ways to cope with these challenges. \nIn this lecture\, Prof. Erwin van der Krabben will discuss the effectiveness of innovative but informal value capture mechanisms recently introduced in some Chinese cities (and based on Hong Kong’s rail + property model). Based on stakeholder interviews\, two focus group discussions and a game simulation\, the informality (and related problems) in land development policies and negotiations will be depicted with respect to developer contributions in Chinese cities and suggest some possible ways to create a more transparent and effective value capture mechanism. \n*This work is the result of a fellowship funded by the Lincoln Institute of Land Policy. \n
URL:https://fac.arch.hku.hk/rccprr/event/financing-transit-oriented-development-in-chinese-cities-by-value-capture-negotiating-better-public-infrastructure/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20190219T123000
DTEND;TZID="Asia/Hong_Kong":20190219T140000
DTSTAMP:20260306T113701
CREATED:20190722T133013Z
LAST-MODIFIED:20190903T061617Z
UID:119-1550579400-1550584800@fac.arch.hku.hk
SUMMARY:How is financial literacy important in emerging mortgage market? Evidence from urban China.
DESCRIPTION:Speaker: Dr. Zan Yang\, Director of Institute of Real Estate Market and Risk Research of Hang Lung Center for Real Estate at Tsinghua University \nTHE SPEAKER\nDr. Zan Yang is an Associate Professor at Tsinghua University\, and the Director of Institute of Real Estate Market and Risk Research of Hang Lung Center for Real Estate at Tsinghua University in Beijing. Her current research focuses on housing consumption\, corporate behavior and land market. She has published more than 28 papers in peer-review journals. Dr. Yang has lead more than 10 national and international research projects. Dr. Yang is also a Council Member of Global Chinese Real Estate Congress and Asian Real Estate Society. \n
URL:https://fac.arch.hku.hk/rccprr/event/how-is-financial-literacy-important-in-emerging-mortgage-market-evidence-from-urban-china/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20190313T123000
DTEND;TZID="Asia/Hong_Kong":20190313T140000
DTSTAMP:20260306T113701
CREATED:20190722T132725Z
LAST-MODIFIED:20190902T084105Z
UID:115-1552480200-1552485600@fac.arch.hku.hk
SUMMARY:The $600 Billion Increase in the U.S. Trade Deficit Since 1980 Has Led to the Loss of Three Million U.S. Manufacturing Jobs
DESCRIPTION:Speaker: Prof. Robert Z. Aliber\, Professor of International Economics and Finance Emeritus of the Booth School of Business\, The University of Chicago \nTHE SPEAKER \nProf. Aliber is Professor of International Economics and Finance Emeritus of the Booth School of Business\, The University of Chicago. He has written extensively about the prices of currencies\, international investment flows\, banking issues\, the multinational firm\, international monetary arrangements\, and financial crises. He is the author / co-author / co-editor of The Future of the Dollar as an International Currency (Praeger)\, The Management of the Dollar in International Finance (Princeton University Press)\, The International Money Game (Basic Books)\, The New International Money Game (Palgrave)\, The Multinational Paradigm (MIT Press)\, Manias\, Panics\, and Crashes (Palgrave)\, Your Money and Your Life (Stanford University Press)\, Guidelines\, Informal Controls\, and the Market Place (University of Chicago Press) and Prelude to the Icelandic Financial Crisis (Palgrave\, 2011). \nProf. Aliber’s current research focus is the identification of the source of shocks that have led to the large variability in the prices of currencies\, bonds\, stocks\, real estate\, and commodities since the early 1970s. These shocks have led to more than forty banking crises\, which have been largely overlapping with currency crises. The Great Recession of 2009 resulted from the banking crisis of 2008. \nProf. Aliber has been the Houblon-Norman Fellow at the Bank of England\, the Bundesbank professor at the Free University of Berlin\, the JPMorgan Prize Fellow at the American Academy of Berlin\, and a visiting scholar at the Woodrow Wilson Center for Scholars in Washington. He has been a visiting professor at the University. \nABSTRACT \nU.S. manufacturing employment has declined from a peak of nearly twenty million in 1979 to less than thirteen million in 2018. The U.S. trade deficit has increased by $600 billion\, about 3 percent of U.S. GDP\, since 1980.  This presentation is centered on two questions. The first is how many of the six million decline in U.S. manufacturing employment since 1980 resulted from the increase in the U.S. trade deficit? The second is whether the United States developed a trade deficit because of U.S. excess demand or instead because of foreign excess supply. \n
URL:https://fac.arch.hku.hk/rccprr/event/the-600-billion-increase-in-the-u-s-trade-deficit-since-1980-has-led-to-the-loss-of-three-million-u-s-manufacturing-jobs/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
ATTACH;FMTTYPE=image/jpeg:https://fac.arch.hku.hk/rccprr/wp-content/uploads/2019/07/Poster_Prof.-Aliber-V2.jpg
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20190415T123000
DTEND;TZID="Asia/Hong_Kong":20190415T140000
DTSTAMP:20260306T113701
CREATED:20190722T132526Z
LAST-MODIFIED:20190902T084009Z
UID:113-1555331400-1555336800@fac.arch.hku.hk
SUMMARY:Scientific Modelling and Machine Learning in Sustainable Development Research
DESCRIPTION:Speaker: Dr. Li Zhiqiang\, Ph.D. in Earth System and Geo-information Science\, Institute of Space and Earth Information Science\, CUHK \nTHE SPEAKER \nDr. Li is an expert in atmospheric modelling\, especially in the high-resolution urban-scale climate simulation. He was a visiting scholar at the National Center for Atmospheric Research (NCAR) working on urban climate modelling by using the WRF Model (Weather Research and Forecasting Model) combined with GIS (Geographic Information System) technology. Prior to his academic career\, he was an entrepreneur with 20 years’ experience in the Hi-tech industry and received distinguished awards for his scientific and technological innovations from the government. He also served as a member of the Shenzhen Chinese People’s Political Consultative Conference and has been involved in the policy formulation of the urbanization and development of the Hi-tech industry in Shenzhen during its take-off stage of economic growth. His knowledge in sustainable urbanization not only comes from academic research but also from his practices in the public sectors. \nABSTRACT \nThe workshop will focus on how to apply scientific modelling and machine learning techniques in the researches for sustainable development. Dr. Li investigated the impact of massive urbanization on urban climate and used Shenzhen as an example to present the whole process of a scientific modelling application in urban climate. Potential applications of machine learning technologies for scientific modelling will also be discussed. The presentation will cover the impact model of urbanization on the atmosphere\, the atmospheric physical models\, the development of high-resolution land surface dataset\, large-scale cluster computing\, model evaluation methods\, the regulating mechanism and machine learning techniques. \n
URL:https://fac.arch.hku.hk/rccprr/event/scientific-modelling-and-machine-learning-in-sustainable-development-research/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
ATTACH;FMTTYPE=image/jpeg:https://fac.arch.hku.hk/rccprr/wp-content/uploads/2019/07/Poster_Dr.-Pater-Lee.jpg
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20190619T123000
DTEND;TZID="Asia/Hong_Kong":20190619T140000
DTSTAMP:20260306T113701
CREATED:20190722T132407Z
LAST-MODIFIED:20190902T083853Z
UID:111-1560947400-1560952800@fac.arch.hku.hk
SUMMARY:Innovations for a Carbon Free Dutch Housing Stock in 2050
DESCRIPTION:Speaker: Prof. Henk Visscher\, Housing Quality and Process Innovation\, Delft University of Technology \nTHE SPEAKER\nHenk Visscher is a Professor of Housing Quality and Process Innovation at Delft University of Technology – Faculty of Architecture and the Built Environment\, Department of Management in the Built Environment; Director of the Graduate School Architecture and the Built Environment; coordinator of the Summerschool Sustainable Housing from a European Perspective. He is also a scientific director of the Building and Technology Innovation Center. \nHe has coordinated many large research programmes and projects in the field of sustainable housing policies and practices\, supervised many PhD students and made many scientific publications. \n  \nABSTRACT\nIn 2017 the new Dutch published coalition government agreed on high ambitions for the reduction of CO2 emissions to meet the Paris agreement and policy directions to achieve this. In 2030 the emissions have to be reduced to 49% compared to 1990. In 2050 we should have an CO2 emission free and energy neutral built environment. The existing housing stock plays a major role in the realisation of these goals. The Dutch housing stock comprises of 7.5 million dwellings. The majority of which has a rather bad thermal energy condition and are mainly heated by natural gas. All these houses have to be renovated to a nearly zero carbon performance. By 2021 yearly more than 50\,000 new homes per year will have to be delivered on nZEB level without a natural gas connection and at least 50\,000 existing dwellings will have to be made gas-free per year. These are steps towards 200\,000 zero carbon renovations per year\, a pace that is needed to make the entire stock carbon free in the 30 years up to 2050. To support these goals\, a large innovation programme is currently being developed. \n  \nThe workshop will present the required innovations. Research on the impact of the policies and measures applied in the recent years point to the challenges that have to be overcome. A particular challenge is to realize the intended performance and really save energy and reduce CO2 emissions on a large scale. \n
URL:https://fac.arch.hku.hk/rccprr/event/innovations-for-a-carbon-free-dutch-housing-stock-in-2050/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
ATTACH;FMTTYPE=image/jpeg:https://fac.arch.hku.hk/rccprr/wp-content/uploads/2019/07/Poster_Prof.-Dr.-Ir.-Henk-Visscher.jpg
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="UTC":20190920T080000
DTEND;TZID="UTC":20190920T170000
DTSTAMP:20260306T113701
CREATED:20190917T091404Z
LAST-MODIFIED:20190917T091701Z
UID:757-1568966400-1568998800@fac.arch.hku.hk
SUMMARY:new event (sep 17)
DESCRIPTION:
URL:https://fac.arch.hku.hk/rccprr/event/new-event-sep-17/
LOCATION:KB526\, Knowles Building\, HKU\, Hong Kong
CATEGORIES:Brownbag Workshops
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID="Asia/Hong_Kong":20191223T123000
DTEND;TZID="Asia/Hong_Kong":20200228T140000
DTSTAMP:20260306T113701
CREATED:20190902T083626Z
LAST-MODIFIED:20191217T054038Z
UID:457-1577104200-1582898400@fac.arch.hku.hk
SUMMARY:Property Rights and Housing Markets
DESCRIPTION:\n\n\n\n\n\nTHE SPEAKERVincent Yao is the AREA Professor of Real Estate\, Director of Real Estate Center and Director of the College Ph.D. Program in the Robinson College of Business at Georgia State University in Atlanta GA\, USA. He is also a senior research fellow at the Federal Reserve Bank of Atlanta and a research fellow at the Hong Kong Monetary Authority. He received his BA from Renmin University of China and Ph.D. in Economics from State University of New York at Albany. \nHis current research interests are household finance\, real estate finance\, and housing policies. His papers have been published in the American Economic Review\, Journal of Financial Economics\, Management Science\, Journal of Urban Economics and Real Estate Economics etc. \n  \nABSTRACTSecure and complete property rights are considered a key determinant of long-term economic growth. We exploit a unique feature of residential housing markets in China\, where dual property rights coexist due to dual land ownership originally in the constitution\, that is\, urban land belongs to the state whereas rural land is collectively owned. The dual property rights for otherwise identical properties differ in market liquidity\, collateralization opportunities\, and uncertainty associated with future disposition. We estimate the relative cash and service flows of limited property rights to be 61-72 percent. We also study the effect of a municipal zoning change as a policy experiment that unexpectedly reduces the uncertainty and frictions for LPR\, but not so much for FPR units. Our results suggest that the new regulation recovers 9 percent of the service ow discount on average\, but it can be as high as 7 times for some sellers. The lower uncertainty also leads to significant reduction of speculative activities measured by turnover rates and price volatility. Our estimates indicate that weak property rights protection accounts for a significant portion of rapid appreciation in China\, and government can design policies to improve both individual and market outcomes. \n\n\n\n\n\n\n\n\n
URL:https://fac.arch.hku.hk/rccprr/event/property-rights-and-housing-markets/
LOCATION:KB531\, 5/F Knowles Building\, HKU\, 852\, Hong Kong
CATEGORIES:Brownbag Workshops
ATTACH;FMTTYPE=image/jpeg:https://fac.arch.hku.hk/rccprr/wp-content/uploads/2019/09/Vincent_Yao007_smaller.jpg
END:VEVENT
END:VCALENDAR