Open AccessInternational Real Estate Review
Author(s) -
Charles Ka Yui Leung,
Wei Wang
Publication year - 2007
Publication title -
journal of the asian real estate society
Language(s) - English
Resource type - Journals
ISSN - 1029-6131
DOI - 10.53383/100087
Subject(s) - china , real estate , trace (psycholinguistics) , economics , dual (grammatical number) , real estate investment trust , financial economics , business , finance , geography , art , linguistics , philosophy , literature , archaeology
Many existing studies on the China real estate industry are empirical, or policyoriented. This paper complements the literature by adopting the DiPasquale and Wheaton model (1996) to study the China housing market, and trace the impact of different policies. Surprisingly, the model is capable of accounting for several developments in the market. We also extend the model to a dual-class housing situation, not only for the analysis of a recent policy change in China, but also for the potentially independent interest of other countries. A summary of the evolution of recent China housing policies is provided.