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Housing Policies in Hong Kong, China and the People’s Republic of China

Author

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  • Jing Li, Victor

    (Asian Development Bank Institute)

Abstract

This paper analyzes the housing markets and housing policies in Hong Kong, China and the People’s Republic of China (PRC). Both markets face housing affordability problems due to limited land supply, for which the solutions vary considerably. Hong Kong, China has adopted a railway and property development model, which involves close collaboration between the government and property developers in compact urban areas, while leaving most greenbelts and surrounding islands underdeveloped. Although the PRC has pledged to maintain a minimum level of basic farmland to feed its large population, this target has often been compromised due to local governments’ fiscal constraints and growth concerns.

Suggested Citation

  • Jing Li, Victor, 2016. "Housing Policies in Hong Kong, China and the People’s Republic of China," ADBI Working Papers 566, Asian Development Bank Institute.
  • Handle: RePEc:ris:adbiwp:0566
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    More about this item

    Keywords

    PRC housing market; Hong Kong; China; housing affordability; housing subsidies;

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • P25 - Economic Systems - - Socialist Systems and Transition Economies - - - Urban, Rural, and Regional Economics
    • P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R28 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Government Policy
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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