While the outbreak of the COVID-19 disease has caused asset markets to experience an unprecedented spike of risk and uncertainty worldwide, the real estate market in many global cities appears to be immune to the adverse effects. How does COVID-19 affect urban housing markets? This study is a...

China is one of the cities with the strongest growth in economy and housing price after the Financial Crisis 2008. Housing demand in China is generally perceived to be driven by fundamental demographical reasons, such as a substantial increase in the disposable income in recent decades,...

In the development of transaction cost based property right analysis, clear delineation of private exclusive property rights over communal property is believed to be able to restrain rent dissipation, and is therefore conducive to market transactions and the enhancement of efficiency. However,...

Tax exemption is one of the REIT's most unique characteristics. To improve the development of REITs market, the Congress had passed several Tax Reform Acts. Plenty of previous study had already explored the effects of tax legislation changing on REITs market. However the findings had not come to...

Classical residential location choice models were constructed as uncertainty-free. Using the expected utility theorem, urban researchers have dealt with different types of uncertainties, such as uncertain income, uncertain housing price, uncertain transportation cost, etc. This paper, however,...

Over the past decade, the global rise of home-sharing platforms such as Airbnb has catalysed the process of “touristification” in major cities. “Touristification” is a term which has been recently used to describe a process which leads to the transformation of a community into a tourism...

Since the outbreak of COVID-19, work-from-home (WFH) and e-commerce have become much more common in many cities. Many news reports have contended that households are leaving city centres and moving into bigger and better houses in the suburbs or rural areas. This emerging trend has been...

Shared equity homeownership is a housing finance model that uses public investments to subsidise families with modest incomes to purchase homes. However, the shared equity model is argued to constrain homeowners from moving because of its resale period and price restrictions. While many studies...

New Zealand is a multi-ethnic society that embraces multiculturism. Many studies have examined how the size of the minority population affects residential property values. However, very few studies have recognised that the qualities of neighbourhoods may cause such price differentials. We use...

By reviewing the previous three asset bubble implosions, viz. (1) the “Lost Decade” of Japan in the 1980s; (2) the Asian Financial Crisis in Hong Kong in 1997; and (3) the Financial Tsunami in the USA in 2008, a common symptom of negative real interest rate is very clearly revealed before the...