Office price index lagging in Singapore and Hong Kong.

Webb, J. and Sirmans, C. F. (1980) Yields and Risk Measures for Real Estate, 1966-1977. Journal of Portfolio Management, 7(1), p. 14-19.

Wells, C. (1996) The Kalman Filter in Finance, Kluwer Academic Publishers, Dordrecht, The Netherlands.

Wheaton, W. C. and Torto, R. G. (1989) Income and Appraised Values: A Reexamination of the FRC Returns Data. AREUEA Journal, 17(4), p. 439-449.

Other sources

Rating & Valuation Department http://www.info.gov.hk/rvd

Census & Statistics Department http://www.info.gov.hk/censtatd

HSBC http://www.hsbc.com.hk

Eddie Chi Man HUI (1), Ka Hung YU (1) and David Kim Hin HO (2)

(1) Department of Building and Real Estate, The Hong Kong Polytechnic University, Hunghom, Kowloon, Hong Kong E-mail: bscmhui@inet.polyu.edu.hk; Tel: (852) 2766 5881; Fax: (852) 2764 5131

(2) Department of Real Estate, The National University of Singapore, Singapore

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