This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

The Dynamic Behavior of Chinese Housing Prices

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Changrong Deng () (University of Electronic Science and Technology of China)
Yongkai Ma () (University of Electronic Science and Technology of China)
Yao-Min Chiang () (National Chengchi University)
Abstract

The objective of this paper is to investigate the dynamic effects of fundamental factors on housing prices in China. We examine how quickly and strongly housing prices react to changes in these factors. We especially want to test whether these reactions change after China adopted a new system for granting land use rights in 2002. We find that the main fundamental explanatory factors explaining Chinese housing price variations are household disposable income, new-build supply, housing units sold, unemployment, and land prices. Among these factors, the most important one is land price. The effect of land prices on housing prices is especially enhanced after adoption of the new system for granting land use rights in 2002.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.umac.mo/fba/irer/papers/current/vol12n2_pdf/02.pdf
File Format: application/pdf
File Function: Full text
Download Restriction: no

Publisher Info
Article provided by Asian Real Estate Society in its journal International Real Estate Review.

Volume (Year): 12 (2009)
Issue (Month): 2 ()
Pages: 121-134
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ire:issued:v:12:n:02:2009:p:121-134

Contact details of provider:
Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
Email:
Web page: http://www.asres.org/

Order Information:
Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
Email:
Web: http://www.asres.org/

For technical questions regarding this item, or to correct its listing, contact: (IRER Graduate Assistant/Webmaster).

Related research
Keywords: Housing price; Fundamental factors; Land price; Land policy;

Other versions of this item:

Find related papers by JEL classification:
L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. G. Donald Jud & Dan T. Winkler, 2002. "The Dynamics of Metropolitan Housing Prices," Journal of Real Estate Research, American Real Estate Society, vol. 23(1/2), pages 29-46. [Downloadable!]
  2. Alan G. Ahearne & John Ammer & Brian M. Doyle & Linda S. Kole & Robert F. Martin, 2005. "Monetary policy and house prices: a cross-country study," International Finance Discussion Papers 841, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
    Other versions:
  3. Michael J. Potepan, 1996. "Explaining Intermetropolitan Variation in Housing Prices, Rents and Land Prices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 24(2), pages 219-245. [Downloadable!] (restricted)
  4. Clapp John M. & Giaccotto Carmelo, 1994. "The Influence of Economic Variables on Local House Price Dynamics," Journal of Urban Economics, Elsevier, vol. 36(2), pages 161-183, September. [Downloadable!] (restricted)
  5. John M. Quigley, 1999. "Real Estate Prices and Economic Cycles," International Real Estate Review, Asian Real Estate Society, vol. 2(1), pages 1-20. [Downloadable!]
  6. Norman Miller & Liang Peng, 2006. "Exploring Metropolitan Housing Price Volatility," The Journal of Real Estate Finance and Economics, Springer, vol. 33(1), pages 5-18, August. [Downloadable!] (restricted)
Full references

Statistics
Access and download statistics

Did you know? A few items listed on IDEAS are over 2000 years old!

This page was last updated on 2009-12-3.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.