A Study of Cross-city Housing Supply in China
||Liang, Xinhua and Sau Kim Lum
||A Study of Cross-city Housing Supply in China
||Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society
||Housing supply plays an important role in the volatility of macroeconomic cycles and in the response speed of house prices to changes in demand. However, it is understudied relative to many other aspects of market behavior. To date, few works have been done on the China housing market—potentially the biggest housing market in the future. This paper aims to explore the cross-city housing supply conditions of China's main cities. The determinants of housing supply such as housing price, material cost, financial cost and labor cost will be examined under the institutional set-up of China's mixed economy. In addition, this study will focus on identifying government regulations which may impede supply-side response. It will test for how these supply restrictions such as the degree of regulatory stringency of the local planning authority decreases the response of producers to demand.
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