Using a 1996 national survey of housing in China and a multilevel modelling technique, we examine housing tenure choice in transitional urban China where households have been granted limited freedom of choice in the housing market since the housing reforms of 1988. We Ž nd that both market mechanisms and institutional forces affect households’ tenure choice in urban China. While some socioecono...

This paper aims to understand how renters make their housing decisions in urban China, where market mechanisms are being introduced into a previously welfareoriented housing system. It is argued that while renters now enjoy more housing options, their choices are constrained not only by socio-economic factors as is the case in the West, but also by persisting socialist institutions such as the ...

We develop an equilibrium-econometric analysis in the context of rental housing markets with indivisibilities. The theory provides some bridge between a (competitive) market equilibrium theory and a statistical/econometric analysis. First, we develop this theory: The listing service of apartments, which we call the housing magazine, provides the information to both households (and landlords) an...

Using a calibrated OLG model with several sources of uncertainty we find that the impact of ageing and of reform of social security upon the demand for housing and the level of owner occupation is substantial. The overall structure of household asset holdings in particular the split between real and financial assets is sensitive to demographics and to the generosity of state run, pay-as-yougo p...

This thesis examines, both theoretically and empirically, the effects of land supply restriction on housing price and housing production. The analysis is conducted in the context of a closed city, where any increase in population must be accommodated within the market. The theoretical part of the analysis extends the urban spatial theory by including natural and contrived land supply restrictio...

The key issue in this paper is the appropriateness and equity of land-use planning mechanisms, and any associated cross-subsidization, as a means of enhancing the supply of affordable housing. The paper will examine the principles of ‘affordable housing through planning’ in England and it will comment on ‘inclusionary zoning’ as a means to promote affordable housing in the USA. The ways in whic...

We highlight the role of commuting cost, location and housing market in crime decision. By assuming that all crimes are committed in the central business district and that criminals create both positive and negative externalities to each other, we ...nd that high wages or large levels of police resources are a natural way to reduce crime. We also ...nd that bigger cities experience higher level...

Most existing house price index construction methods are developed mainly based on transaction data from the secondary housing market, and are not necessarily suitable for the nascent housing markets where a predominant portion of housing transactions are new units. Using the booming market in China as an example, we evaluate and compare the performances of three most common house price measure...

China’s property market has been the subject of much media coverage in recent years. Rapid price increases for residential property and the possibility of a price bubble in many cities has led the central government to take a myriad of regulatory measures to cool housing markets. Scholarly attention has focused either on inter-city analyses or case studies of the high-GDP coastal cities like Sh...