An Examination of the Chinese Housing Market through the Lens of the DiPasquale- Wheaton Model: a Graphical Attempt

Charles Leung and Wei Wang
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Wei Wang: Penghua Fund Management Co., Ltd. 43/F, International Chamber of Commerce Tower, Yitian RD, CBD, Futian Dist., Shenzhen 518048, China

International Real Estate Review, 2007, vol. 10, issue 2, 131-165

Abstract: 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.

Keywords: real estate; policy; determination of price and quantity; submarket (search for similar items in EconPapers)
JEL-codes: L85 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (18)

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