A joint conference paper by Simon Yau and other colleagues at HKU has just been selected as the Best Conference Paper for the Pacific Rim Real Estate Society Conference 2013:
Yau, Y., Lau, W.K. & Ho, D.C.W. (2013) “Principle of selectivity in housing rehabilitation subsidies: a case study in Hong Kong”, paper presented at the Pacific Rim Real Estate Society Conference 2013, Melbourne, 13-16 January 2013.
Here is the paper abstract:
In view of tight public budget and public accountability, housing subsidies have to be selective. Different criteria are used to screen off ineligible applicants but inappropriately chosen criteria can result in inefficient resource allocation. This study investigates the subsidies offered by the public sector for rehabilitating private housing in Hong Kong. In light of the age-old problem of urban decay in the city, grants and loans have been offered to homeowners as an incentive to stimulate voluntary housing rehabilitation. Yet, whether the eligibility criteria of the subsidy schemes entail efficient resource allocation is in question. Upon the regression of the dilapidation assessment results of multi-owned housing in Hong Kong on the eligibility criteria, older and unmanaged housing is found to be more derelict. Development scale and rateable value are also correlated to the dilapidation level. Policy and practical implications then follow.
You car read the complete paper here
Photo by Mstyslav Chernov
(cropped), via Wikimedia Commons