A market without the ‘right’ property rights

Kim, Annette M.

doi:10.1111/j.0967-0750.2004.00179.x

Cited by 96 publications

(77 citation statements)

References 45 publications

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“…To facilitate the provision of residential land and thereby housing by the provision of legal titles, a new land law was enacted in 1993, creating a legal platform as a foundation for a real estate market where assets could be transacted, rented, transferred, inherited, and mortgaged. Local authorities required those who had been involved in various illegal transactions to submit to a notarization process and issued LURCs (Land Use Rights Certificates) to certify land and BOLURCs (Building Ownership and Land Use Rights Certificates) to certify both the building and land [30]. Thus, the process of creating legal titles resulted in a more transparent land and housing market with huge potential.…”

Section: Predominantly Self-built Housing Production and Urban Challementioning

confidence: 99%

In-Migration and Housing Choice in Ho Chi Minh City: Toward Sustainable Housing Development in Vietnam

Seo

Kwon

2017

Sustainability

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Since the initiation of Vietnam's Doi Moi policy in 1986, the rate of urbanization has rapidly increased with a great influx of immigrants from rural areas. With such migration becoming a large acceleration factor for urban growth, the shortage of housing has become a critical problem in the cities. The Vietnamese government encouraged self-built housing and public-private partnerships to produce different types of housing stock. There are few available academic studies about housing choice in Vietnam to help understand movement dynamics and to foster sustainable housing development. The purpose of this study is to analyze housing choice and moving determinants in Ho Chi Minh City, and thereby establish recommendations for sustainable housing development in Vietnam. For an empirical study, a citizen questionnaire survey was conducted in HCMC and an in-depth analysis was carried out. The results indicate that the row house type for single-family housing is strongly preferred, but a preference for apartments is also observed for future planning. The factors influencing housing choice and movement are family income, housing ownership, housing typology, and commuting environment. These phenomena suggest that the government should prudently consider affordable housing development in many districts. The results of this study will help to establish policies for sustainable housing development in Ho Chi Minh City, Vietnam.

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Section: Predominantly Self-built Housing Production and Urban Challementioning

confidence: 99%

In-Migration and Housing Choice in Ho Chi Minh City: Toward Sustainable Housing Development in Vietnam

Seo

Kwon

2017

Sustainability

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“…As a result of the 1993 Land Law, provinces were obligated to grant longterm leases on land in the province to current holders. The leases called LURCs were for periods as long as ninety years and could be exchanged, sublet, and used as collateral on bank loans (Do and (Haare 2008) and, as a result, titled land is significantly more valuable than land without a LURC (Kim 2004).…”

Section: Disaggregating Institutions That Influence Formalizationmentioning

confidence: 99%

Out of the Gray: The Impact of Provincial Institutions on Business Formalization in Vietnam

Malesky¹,

Taussig²

2009

Journal of East Asian Studies

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Scholars have long argued that institutional context significantly influences business strategy and economic performance. Research on the relationship between institutions and business strategy, however, has overwhelmingly focused on the decisions of larger, established corporations, mostly neglecting the strategic thinking of smaller, more entrepreneurial ventures. This article seeks to correct this bias by focusing the analysis directly on the critical decision of small-scale entrepreneurs to move from the informal and largely unregulated sector into operation as formal companies. Using a unique dataset and ranking of provincial governance institutions from Vietnam, the authors show that improvements in institutions make firms more likely to choose the formal sector from the start and, for those who do not, to spend less time in the informal sector. The study also finds that property rights have a more salient impact on formalization than other types of institutions.

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“…Property rights over land for real estate development now clearer defined (Zhu, 2011 Non-existent formal real estate market (Kim, 2004) Many failed foreign projects due to the Asian financial crisis (Dapice et al, 2009). …”

Section: Property Rights Evolutionmentioning

confidence: 99%

Collaborative development: Capturing the public value in private real estate development projects in Ho Chi Minh City, Vietnam

Nguyen

Krabben

Spencer

2017

Cities

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A B S T R A C TThis article addresses a relative gap in the literature on real estate development and property rights in transitional economies, particularly on the "shadow" role of private developers in urban management at the local level. The paper argues that the development of high-rise buildings in Vietnam resulted from the national privatization policy shift known as Doi Moi that gave landowners greater rights. These changes in land rights policy are important constitutive elements for institutional functionality of value capture via privatization of land, to become viable and effective. Further, the paper describes how private developers (foreign and domestic) take advantage of vague and indistinct city governance regarding privatization of land, while the property rights of the original users of the land are insufficiently protected. These issues are illuminated and analyzed through the use of three case studies of commercial projects in Ho Chi Minh City. We suggest a further institutionalization of privatization of land and value capture in Vietnam.

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A market without the ‘right’ property rights

Cited by 96 publications

References 45 publications

In-Migration and Housing Choice in Ho Chi Minh City: Toward Sustainable Housing Development in Vietnam

In-Migration and Housing Choice in Ho Chi Minh City: Toward Sustainable Housing Development in Vietnam

Out of the Gray: The Impact of Provincial Institutions on Business Formalization in Vietnam

Collaborative development: Capturing the public value in private real estate development projects in Ho Chi Minh City, Vietnam

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