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Paper eres2013_18:
Sale of Public Housings to Sitting-Tenants: What Determines the Success or Failure of Such Privatization Programs around the World since 1980's ?

id eres2013_18
authors Zheng, Linzi; Kwok Chun Wong
year 2013
title Sale of Public Housings to Sitting-Tenants: What Determines the Success or Failure of Such Privatization Programs around the World since 1980's ?
source 20th Annual European Real Estate Society Conference in Vienna, Austria
summary Selling public rented housing to its sitting tenants, a major method of housing privatization which become prosperous since 1980s, has been adopted by many different political systems and spread all over the world. However, outcomes of different programs are of large divergences, while the 'Right-to-Buy' policy in UK increases obviously homeownership level, other countries such as France, Netherlands and etc. did not achieve satisfied results; similar gap also happed in Asia like areas between Hong Kong and Mainland China. Hence the purpose of this paper is twofold: First, based on international data comparison analyses within wealth-maximization modes, to empirically identify major determinants out of both economic variables and demographic factors in tenure choice when facing the opportunity to buy their current living public rented houses and second a general pattern housing privatization proceeds for different countries can be drawn.
keywords Wealth maximization mode, Housing privatisation, Tenure choice of sitting tenants, Transaction cost, Agent theory
series ERES:conference
type paper session
email h1099026@hku.hk
more http://library.eres.org/cgi-bin/rsa98.pl?conf=ERES2013&type=session&theme=L&slot=5712
discussion No discussions. Post discussion ...
ratings
session L-7: Real Estate & Urban Economics
last changed 2014/10/21 21:51
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