This paper analyzes the housing markets and housing policies in Hong Kong, China and the People's Republic of China (PRC). Both markets face housing affordability problems due to limited land supply, for which the solutions vary considerably. Hong Kong, China has adopted a railway and property...

Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where productivity is higher and has increased...

Institutions for housing subsidization are an important type of institutions for redistribution. They are dominated by public housing and social housing, which are characterized by (1) public ownership or social ownership, (2) management board not held accountable to the recipients, and (3)...

The real estate market in China is often subject to government intervention while it is widely believed that speculation is one of the driving forces for the dramatic increase in house price. By controlling macroeconomic factors, we detect two types of speculative traders, fundamentalists and...

In China's regulated housing markets, a married couple may strategically choose to divorce in order to purchase more houses and/or purchase with more favorable leverages. Our study examines the strategic divorce behavior induced by two major types of housing market regulations in China, quota...

Since the beginning of the 2000s, both the demographic structure and pension system in China has experienced a dramatic change, which profoundly impacts the housing market. Since the land profit occupies a large ratio of the government revenue, China’s housing market interacts with the...

This paper analyzes the housing markets and housing policies in Hong Kong, China and the People's Republic of China (PRC). Both markets face housing affordability problems due to limited land supply, for which the solutions vary considerably. Hong Kong, China has adopted a railway and property...

China has weathered the global financial turmoil in much better shape than most other countries, including the United States. However, there been concerns that banks loosened their lending standards too much as a result of a huge stimulus, among other factors. This led to excessive lending to...

The problem of housing affordability is not only of considerable importance for governments to make housing policies, and is but also often the focus of academic research of housing markets. This paper therefore attempts to examine the affordability problem in China based on a set of...

The sharp rise of house prices in China's Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China's unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist....