Sale of Public Housings to Sitting-Tenants: What Determines the Success or Failure of Such Privatization Programs around the World since 1980's ?
||Zheng, Linzi; Kwok Chun Wong
||Sale of Public Housings to Sitting-Tenants: What Determines the Success or Failure of Such Privatization Programs around the World since 1980's ?
||20th Annual European Real Estate Society Conference in Vienna, Austria
||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.
||Wealth maximization mode, Housing privatisation, Tenure choice of sitting tenants, Transaction cost, Agent theory
Post discussion ...
||L-7: Real Estate & Urban Economics
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