Conventionally, urban renewal initiated by the private sector is not that different from other trading activities. A developer purchases property rights from the suppliers, who are the property owners of the renewal site, in the open market for a price. Once the deal is done, the suppliers are...

This book examines the public policies implemented in five North-Asian countries/regions to address the dropp of land prices after the 1997 Asian crisis. It displays a substantial variety of strategies across Northeast Asia, resulting from a complex set of colonial legacies (Japanese legacy in...

Purpose: This paper aims to examine the effect of housing wealth on household consumption when there are resale and refinancing constraints that prevent housing assets from being cashed out. Design/methodology/approach: Based on Household Expenditure Survey data in Hong Kong from 1999 to 2010,...

Purpose: Shared equity homeownership is a form of subsidised, resale-restricted housing through which lower-income households can sustain their affordability. This paper aims to distinguish two types of affordability within shared equity homeownership: “entry affordability” indicates how...

Conventional wisdom suggests that non-local buyers usually pay a premium for home purchases. While the standard contract theory predicts that non-local buyers may pay such a price premium because of the higher cost of gathering information, behavioral economists argue that the premium is due to...

Price discovery is an important research topic in real estate due to the heterogeneous nature of housing attributes and relatively thin trading activities compared to other assets. In Commonwealth countries, including New Zealand, governments usually conduct periodic appraisals for the purpose...