Yang, Liuming
Yang, Liuming 楊柳明
BS, MSc (Wuhan University); PhD (Georgia State University)
Assistant Professor
Contact
School of Hotel and Tourism Management
Room 718, 7/F
Cheng Yu Tung Building
12 Chak Cheung Street
Shatin, New Territories, Hong Kong
+852 3943 4179
Biography
Professor Liuming Yang is an Assistant Professor of Real Estate at the School of Hotel and Tourism Management at the Chinese University of Hong Kong Business School. He received his in Business Administration with a concentration in Real Estate from Georgia State University in 2022, and his MSc and BS degrees in Finance from Wuhan University in 2017 and 2014, respectively. His research focuses on real estate and property technology (PropTech). His work appears in leading academic journals, including the Journal of Financial and Quantitative Analysis, Real Estate Economics, the Journal of Real Estate Research, and the Journal of Real Estate Finance and Economics. His studies are cited by Fortune, CNN Business, Yahoo Finance, and multiple government entities, including the Los Angeles City Council and the California Coastal Commission. He was ranked #12 worldwide over the period of 2021-25 according to The Real Estate Academic Leadership (REAL) Rankings for 2021–2025, Journal of Real Estate Literature. He teaches real estate finance courses at both undergraduate and master’s levels at CUHK, and develops and teaches a distinctive master-level course on PropTech.
Teaching Areas
Real Estate
Research Interests
Real Estate
Property Technology (PropTech)
Publications & Working Papers
- Niu, G., Xiang, X., Yang, L., & Zhou, Y. (2026), “Housing speculation and investment in children’s education: Evidence from house purchase restrictions in China,” Journal of Financial and Quantitative Analysis
- Yang, L. (2026), “Out-of-town Individual Investors and Asymmetric Information: Evidence from the U.S. Single-Family Residential Rental Markets,” Real Estate Economics
- Chung, J., & Yang, L. (2026), “E-Grocery and Housing Markets: Evidence from the Amenity Effect of Amazon Fresh as a Digital Amenity,” Journal of Real Estate Finance and Economics
- Yang, L., & Wiley, J. A. (2026), “Do dispensary openings impact rents for neighboring retail?” Journal of Real Estate Research, 48(2), 147–171.
- Seiler, M. J., & Yang, L. (2026), “Understanding personal financial distress in the real estate brokerage industry,” Journal of Real Estate Research, 48(1), 65-86
- Gan, H., Lin, C., Niu, G., Yang, L., & Zhou, Y. (2026), “High temperatures and household stock market participation,” Journal of Banking and Finance
- Liu, C., Xu, L., Yang, L., & Zhou, Y. (2025), “Trade liberalization and municipal financing costs,” Journal of Banking and Finance
- Cheng, P., D’Lima, W., Lin, Z., & Yang, L. (2025), “Information sharing across MLS platforms and housing prices: Evidence from a temporary suspension of an agreement,” Real Estate Economics, 53(3), 467-497.
- Lin, C., Seiler, M. J., Siebert, R. B., & Yang, L. (2025), “Chinese investors in the U.S. residential rental market: Micro evidence,” Real Estate Economics, 53(2), 297-325.
- Lin, C., Seiler, M. J., & Yang, L. (2025), “Does personal financial distress affect workers’ performance? Evidence from real estate agents,” Journal of Real Estate Research, 47(1), 103-144.
- Seiler, M. J., Siebert, R. B., & Yang, L. (2024), “Airbnb or not Airbnb? That is the question: How Airbnb bans disrupt rental markets,” Real Estate Economics, 52(1), 239-270.
- Harrison, D. M., Seiler, M. J., & Yang, L. (2024), “The impact of iBuyers on housing market dynamics,” Journal of Real Estate Finance and Economics, 68(3), 425-461.
- Seiler, M. J., & Yang, L. (2023), “Gun‐ownership disclosure and localized home prices,” Real Estate Economics, 51(6), 1399-1436.
- Seiler, M. J., & Yang, L. (2023), “The burgeoning role of iBuyers in the housing market,” Real Estate Economics, 51(3), 721-753.
Grants
- Young Scientists Fund, 2027/29, National Natural Science Foundation of China (NSFC), 2027–2029
- General Research Fund, 2024/25, The Research Grants Council (RGC), 2026-2027
- Direct Grant, School of Hotel and Tourism Management, CUHK Business School, 2026
- Early Career Scheme, 2023/24, The Research Grants Council (RGC), 2023–2024
- Direct Grant, School of Hotel and Tourism Management, CUHK Business School, 2024
- Direct Grant, School of Hotel and Tourism Management, CUHK Business School, 2023
- Start Up Fund, School of Hotel and Tourism Management, CUHK Business School, 2022-2025
Awards & Honours
- Real Estate Research Ranking: #12 worldwide over the period of 2021-25 according to the Real Estate Academic Leadership (REAL) Rankings for 2021–2025, Journal of Real Estate Literature
- Best Poster Award (1st Runner-up) awarded by ABFER 13th Annual Conference, 2026
- Real Estate Brokerage/Agency Award awarded by 2024 American Real Estate Society, 2024
- Best Paper Award awarded by 2024 AsRES-GCREC & AREUEA International Real Estate Joint Conference, 2024
Student Nationalities