Abstract
High price of private residential units is a social issue for many economies. The property price of many developed cities has risen beyond reach of the general public. In 1996, the Hong Kong Consumer Council also commented that the residential market is quite concentrated. The enactment of the Hong Kong Competition Ordinance echoes the need to look into the market competition level so as to better protect consumer welfare. Market concentration is a major indicator to measure competition. The primary aim of this study is to evaluate the concentration level of the private new residential market in Hong Kong. The concentration level is mainly evaluated by concentration measures including the Concentration Ratio and Hirfindahl-Hirschman index. The result shows that the top five developers are holding a dominant position in the market. It is envisaged that the big developers could retain their dominance due to their substantial land bank.
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