A Study of Cross-city Housing Supply in China

Xinhua Liang and Sau Kim Lum

ERES from European Real Estate Society (ERES)

Abstract: Housing supply plays an important role in the volatility of macroeconomic cycles and in the response speed of house prices to changes in demand. However, it is understudied relative to many other aspects of market behavior. To date, few works have been done on the China housing marketópotentially the biggest housing market in the future. This paper aims to explore the cross-city housing supply conditions of China's main cities. The determinants of housing supply such as housing price, material cost, financial cost and labor cost will be examined under the institutional set-up of China's mixed economy. In addition, this study will focus on identifying government regulations which may impede supply-side response. It will test for how these supply restrictions such as the degree of regulatory stringency of the local planning authority decreases the response of producers to demand.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2005-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2005_241

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