NDLI: Land supply, land speculation and housing price: Evidence from four municipalities in China

Content Provider	IEEE Xplore Digital Library
Author	Yan Jin-hai Zhong Ji-xiang
Copyright Year	2011
Description	Author affiliation: School of Public Affairs, Xiamen University, P.R. China, 361005 (Yan Jin-hai) \|\| China Land Surveying and Planning Institute, P.R. China, 100035 (Zhong Ji-xiang)
Abstract	To study the relation between land supply, land speculation and housing price in China, this paper establish a stock adjustment model by incorporating land supply into housing demand and supply function. The model is estimated using quarterly panel data in Beijing, Tianjin, Shanghai and Chongqing from 1999 to 2010. The conclusions are as follows. (1) Compared to the traditional fundamental factors, land supply is playing a vital role in housing price movements from both demand-side by affecting expectation formation and supply-side by influencing land banking and factor cost in China. (2)In transition economy, the regime shift of land supply in the end of 2004 has promoted the maturing of property market and improved market efficiency due to less irrational land speculations by homebuyers and real estate developers resulting from market-oriented transformation of land supply regime, releasing of land supply plans and strengthening on development regulations.
Starting Page	1123
Ending Page	1130
File Size	137661
Page Count	8
File Format	PDF
ISBN	9781457718854
ISSN	21551855
e-ISBN	9781457718885
DOI	10.1109/ICMSE.2011.6070097
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2011-09-13
Publisher Place	Italy
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Economics housing price land supply Government Cities and towns Educational institutions Data models Mathematical model Equations land speculation stock adjustment model
Content Type	Text
Resource Type	Article

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