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100			_aTang, Bo-Sin _953558
245			_aAssessing externality: Successive event studies on market impacts of new housing development on an old residential neighbourhood/
260			_bSage, _c2020.
300			_aVol. 47, Issue 1, 2020, ( 156–173 p.)
520			_aThis study assesses the externality of three new master-planned housing estate development projects on an old residential area in Hong Kong. Replicating the methodology of an event study, this paper presents the changes to the market values and the turnover of property transactions of the apartments in the existing neighbourhood before and after the successive completion of these three new projects over a period of 10 years. Our findings have identified a diverse picture about the impacts of these new housing estates on the neighbourhood. Positive externalities occur under specific circumstances related to the facility provision, spatial design and interfacing with the neighbourhood and background of the new projects. Housing externality does not depend only on the degree of geographical proximity. The policy implication is that urban planning can expand the positive spillover of infill redevelopment not only by replacing the urban dis-amenities by new buildings, but also through a responsive and beneficial integration of the new development with the existing neighbourhood.
700			_aWong, Kwan To _957565
773	0		_08876 _917104 _dLondon Pion Ltd. 2010 _tEnvironment and planning B: planning and design (Urban Analytics and City Science) _x1472-3417
856			_uhttps://doi.org/10.1177/2399808318774333
942			_2ddc _cEJR
999			_c14502 _d14502