IDEAS home Printed from https://ideas.repec.org/a/eee/regeco/v43y2013i2p187-196.html
   My bibliography  Save this article

Institutional and demographic influences on the presence, scale and geographic scope of individual Chinese real estate investment

Author

Listed:
  • Coulson, N. Edward
  • Tang, Mingzhe

Abstract

We use the results of a survey taken in ten large Chinese cities to investigate several aspects of Chinese real estate investment. The survey provides significant (though not comprehensive) information on the personal and family characteristics and real estate holdings of the survey respondents. In this paper we ask three inter-related questions: 1. What factors are associated with individuals who own property in China? 2. What factors are associated with the extent of such ownership—i.e. what determines the number of properties owned? 3. What factors determine the geographical extent of this ownership; in particular, who owns local property and who owns geographically dispersed?

Suggested Citation

  • Coulson, N. Edward & Tang, Mingzhe, 2013. "Institutional and demographic influences on the presence, scale and geographic scope of individual Chinese real estate investment," Regional Science and Urban Economics, Elsevier, vol. 43(2), pages 187-196.
    • Handle: RePEc:eee:regeco:v:43:y:2013:i:2:p:187-196
    DOI: 10.1016/j.regsciurbeco.2012.12.001
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S016604621200107X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.regsciurbeco.2012.12.001?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Meng, Xin & Gregory, Robert & Wang, Youjuan, 2005. "Poverty, inequality, and growth in urban China, 1986-2000," Journal of Comparative Economics, Elsevier, vol. 33(4), pages 710-729, December.
    2. Deng, Yongheng & Morck, Randall & Wu, Jing & Yeung, Bernard, 2011. "Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market," Ratio Working Papers 173, The Ratio Institute.
    3. Leong H. Liew, 1995. "Gradualism in China’s Economic Reform and the Role for a Strong Central State," Journal of Economic Issues, Taylor & Francis Journals, vol. 29(3), pages 883-895, September.
    4. John R. Logan & Yiping Fang & Zhanxin Zhang, 2009. "Access to Housing in Urban China," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(4), pages 914-935, December.
    5. Fu, Yuming & Tse, David K. & Zhou, Nan, 2000. "Housing Choice Behavior of Urban Workers in China's Transition to a Housing Market," Journal of Urban Economics, Elsevier, vol. 47(1), pages 61-87, January.
    6. Wu, Jing & Gyourko, Joseph & Deng, Yongheng, 2012. "Evaluating conditions in major Chinese housing markets," Regional Science and Urban Economics, Elsevier, vol. 42(3), pages 531-543.
    7. Zhou, Jingkui, 2011. "Uncertainty and housing tenure choice by household types: Evidence from China," China Economic Review, Elsevier, vol. 22(3), pages 408-427, September.
    8. Andrew Feltenstein & Saleh M. Nsouli, 2003. ""Big Bang" Versus Gradualism in Economic Reforms: An Intertemporal Analysis with an Application to China," IMF Staff Papers, Palgrave Macmillan, vol. 50(3), pages 1-6.
    9. Kam Wing Chan, 2010. "The Household Registration System and Migrant Labor in China: Notes on a Debate," Population and Development Review, The Population Council, Inc., vol. 36(2), pages 357-364, June.
    10. Youqin Huang & Chengdong Yi, 2010. "Consumption and Tenure Choice of Multiple Homes in Transitional Urban China," International Journal of Housing Policy, Taylor & Francis Journals, vol. 10(2), pages 105-131.
    11. Henderson, J Vernon & Ioannides, Yannis M, 1983. "A Model of Housing Tenure Choice," American Economic Review, American Economic Association, vol. 73(1), pages 98-113, March.
    12. Wendy Dobson & Anil K. Kashyap, 2006. "The Contradiction in China's Gradualist Banking Reforms," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 37(2), pages 103-162.
    13. Youqin Huang & William A. V. Clark, 2002. "Housing Tenure Choice in Transitional Urban China: A Multilevel Analysis," Urban Studies, Urban Studies Journal Limited, vol. 39(1), pages 7-32, January.
    14. John R. Logan & Yanjie Bian & Fuqin Bian, 1999. "Housing inequality in urban China in the 1990s," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 23(1), pages 7-25, March.
    15. Zheng, Siqi & Fu, Yuming & Liu, Hongyu, 2006. "Housing-choice hindrances and urban spatial structure: Evidence from matched location and location-preference data in Chinese cities," Journal of Urban Economics, Elsevier, vol. 60(3), pages 535-557, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. David Howden & Jason XingBin Li, 2015. "An Austrian Analysis of China's Unsustainable Boom," Economic Affairs, Wiley Blackwell, vol. 35(3), pages 443-452, October.
    2. Yang, Jian & Yu, Ziliang & Deng, Yongheng, 2018. "Housing price spillovers in China: A high-dimensional generalized VAR approach," Regional Science and Urban Economics, Elsevier, vol. 68(C), pages 98-114.
    3. Yang, Jian & Tong, Meng & Yu, Ziliang, 2021. "Housing market spillovers through the lens of transaction volume: A new spillover index approach," Journal of Empirical Finance, Elsevier, vol. 64(C), pages 351-378.
    4. Tang, Mingzhe & Coulson, N. Edward, 2017. "The impact of China's housing provident fund on homeownership, housing consumption and housing investment," Regional Science and Urban Economics, Elsevier, vol. 63(C), pages 25-37.
    5. Liao, Yu & Zhang, Junfu, 2021. "Hukou status, housing tenure choice and wealth accumulation in urban China," China Economic Review, Elsevier, vol. 68(C).
    6. Jie Chen & Zan Yang, 2017. "What do young adults on the edges of homeownership look like in big cities in an emerging economy: Evidence from Shanghai," Urban Studies, Urban Studies Journal Limited, vol. 54(10), pages 2322-2341, August.
    7. Iris Claus & Les Oxley & Jie Chen & Xuehui Han, 2014. "The Evolution Of The Housing Market And Its Socioeconomic Impacts In The Post-Reform People'S Republic Of China: A Survey Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 28(4), pages 652-670, September.
    8. Shengfu Yang & Shougeng Hu & Weidong Li & Chuanrong Zhang & José A. Torres, 2017. "Spatiotemporal Effects of Main Impact Factors on Residential Land Price in Major Cities of China," Sustainability, MDPI, vol. 9(11), pages 1-16, November.
    9. Cao, Yujin & Chen, Jidong & Zhang, Qinghua, 2018. "Housing investment in urban China," Journal of Comparative Economics, Elsevier, vol. 46(1), pages 212-247.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Iris Claus & Les Oxley & Jie Chen & Xuehui Han, 2014. "The Evolution Of The Housing Market And Its Socioeconomic Impacts In The Post-Reform People'S Republic Of China: A Survey Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 28(4), pages 652-670, September.
    2. Tang, Mingzhe & Coulson, N. Edward, 2017. "The impact of China's housing provident fund on homeownership, housing consumption and housing investment," Regional Science and Urban Economics, Elsevier, vol. 63(C), pages 25-37.
    3. Wu, Guiying Laura & Feng, Qu & Li, Pei, 2015. "Does local governments’ budget deficit push up housing prices in China?," China Economic Review, Elsevier, vol. 35(C), pages 183-196.
    4. Li, Yaoyao & Qi, Yuan & Liu, Licheng & Hou, Yuchen & Fu, Shuya & Yao, Jingtao & Zhu, Daolin, 2022. "Effect of increasing the rental housing supply on house prices: Evidence from China’s large and medium-sized cities," Land Use Policy, Elsevier, vol. 123(C).
    5. Zhou, Xiaoqing, 2020. "A quantitative evaluation of the Housing Provident Fund program in China," China Economic Review, Elsevier, vol. 61(C).
    6. Junhua Chen & Ying Wu & Huijia Li, 2018. "Vocational Status, Hukou and Housing Migrants in the New Century: Evidence from a Multi-city Study of Housing Inequality," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 139(1), pages 309-325, August.
    7. Guo Chen, 2016. "The heterogeneity of housing-tenure choice in urban China: A case study based in Guangzhou," Urban Studies, Urban Studies Journal Limited, vol. 53(5), pages 957-977, April.
    8. Li, Keyang & Qin, Yu & Wu, Jing, 2020. "Recent housing affordability in urban China: A comprehensive overview," China Economic Review, Elsevier, vol. 59(C).
    9. Chao Li & John Gibson, 2014. "Spatial Price Differences and Inequality in the People's Republic of China: Housing Market Evidence," Asian Development Review, MIT Press, vol. 31(1), pages 92-120, March.
    10. Carlos Garriga & Aaron Hedlund & Yang Tang & Ping Wang, 2023. "Rural-Urban Migration, Structural Transformation, and Housing Markets in China," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(2), pages 413-440, April.
    11. Chu-Chia Lin & Po-Sheng Lai, 2018. "An Empirical Study on the Impact of Tenure Choice on Saving for Chinese Households," International Real Estate Review, Global Social Science Institute, vol. 21(2), pages 275-294.
    12. Yongxiao Du & Hao Dong, 2023. "Homeownership pathways and fertility in urban China," Journal of Population Research, Springer, vol. 40(3), pages 1-15, September.
    13. Qianwei Ying & Danglun Luo & Jie Chen, 2013. "The Determinants of Homeownership Affordability among the ‘Sandwich Class’: Empirical Findings from Guangzhou, China," Urban Studies, Urban Studies Journal Limited, vol. 50(9), pages 1870-1888, July.
    14. Fulong Wu, 2009. "Land Development, Inequality and Urban Villages in China," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(4), pages 885-889, December.
    15. Ali Cheshmehzangi, 2018. "The Changing Urban Landscape of Chinese Cities: Positive and Negative Impacts of Urban Design Controls on Contemporary Urban Housing," Sustainability, MDPI, vol. 10(8), pages 1-21, August.
    16. Guo, Xiaoyang & Zheng, Siqi & Geltner, David & Liu, Hongyu, 2014. "A new approach for constructing home price indices: The pseudo repeat sales model and its application in China," Journal of Housing Economics, Elsevier, vol. 25(C), pages 20-38.
    17. Huang, Daisy J. & Leung, Charles K. & Qu, Baozhi, 2015. "Do bank loans and local amenities explain Chinese urban house prices?," China Economic Review, Elsevier, vol. 34(C), pages 19-38.
    18. Fox ZY Hu, 2015. "Industrial capitalisation and spatial transformation in Chinese cities: Strategic repositioning, state-owned enterprise capitalisation, and the reproduction of urban space in Beijing," Urban Studies, Urban Studies Journal Limited, vol. 52(15), pages 2799-2821, November.
    19. Shijun Jia & Yourong Wang & Gang-Zhi Fan, 2018. "Home-Purchase Limits and Housing Prices: Evidence from China," The Journal of Real Estate Finance and Economics, Springer, vol. 56(3), pages 386-409, April.
    20. Wang, Zhi & Zhang, Qinghua, 2014. "Fundamental factors in the housing markets of China," Journal of Housing Economics, Elsevier, vol. 25(C), pages 53-61.

    More about this item

    Keywords

    China; Real estate investment; Hukou;
    All these keywords.

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:regeco:v:43:y:2013:i:2:p:187-196. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/regec .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.