Transaction Costs and Housing Affordability in Asia
Asia is home to some of the fastest growing cities in the world. As urbanization increases, demand for housing also increases. Well functioning housing markets can minimize problems associated with rapid urbanization such as unaffordable housing and urban slums. This paper explores the different aspects of the residential property sales markets in Asian countries. Using data gathered by the Global Property Guide, transaction costs associated with residential property purchases are analyzed. Housing markets are also examined in terms of tenure, protection of property rights, and openness and transparency. Roundtrip transaction costs for buying properties are high, above 10% in several countries in Asia. High transaction costs and unaffordable housing combined with weak protection of property rights are seen to be conducive to the creation of urban slums.
Volume (Year): 11 (2008)
Issue (Month): 1 ()
|Contact details of provider:|| Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA|
Web page: http://www.asres.org/
|Order Information:|| Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA|
Web: http://www.asres.org/ Email:
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.:
- Edward L. Glaeser & Joseph Gyourko & Raven E. Saks, 2005.
"Urban Growth and Housing Supply,"
NBER Working Papers
11097, National Bureau of Economic Research, Inc.
- Edward L. Glaeser & Joseph Gyourko & Raven E. Saks, 2005. "Urban Growth and Housing Supply," Harvard Institute of Economic Research Working Papers 2062, Harvard - Institute of Economic Research.
- James A. Robinson & Daron Acemoglu, 2000. "Political Losers as a Barrier to Economic Development," American Economic Review, American Economic Association, vol. 90(2), pages 126-130, May.
- Edward L. Glaeser & Matthew E. Kahn, 2003.
"Sprawl and Urban Growth,"
Harvard Institute of Economic Research Working Papers
2004, Harvard - Institute of Economic Research.
- Pablo Casas-Arce & Albert Saiz, 2006. "Owning versus leasing: do courts matter?," Working Papers 06-21, Federal Reserve Bank of Philadelphia.
- Acemoglu,Daron & Robinson,James A., 2009.
"Economic Origins of Dictatorship and Democracy,"
Cambridge University Press, number 9780521671422, 1.
- Ballesteros, Marife M., 2002. "The Dynamics of Housing Demand in the Philippines: Income and Lifecycle Effects," Research Paper Series RPS 2002-01, Philippine Institute for Development Studies.
- DiPasquale, Denise, 1999. "Why Don't We Know More about Housing Supply?," The Journal of Real Estate Finance and Economics, Springer, vol. 18(1), pages 9-23, January.
- Natalya Delcoure & Norm G. Miller, 2002. "International Residential Real Estate Brokerage Fees and Implications for the US Brokerage Industry," International Real Estate Review, Asian Real Estate Society, vol. 5(1), pages 12-39.
When requesting a correction, please mention this item's handle: RePEc:ire:issued:v:11:n:01:2008:p:128-150. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (IRER Secretary Office/Webmaster)
If references are entirely missing, you can add them using this form.