The impact of a home purchase restrictions (HPR) policy on the distressed property market in Beijing

Shi, Song; Zhang, Hong; Zhang, Jun

doi:10.1016/j.jhe.2022.101877

Cited by 4 publications

(1 citation statement)

References 34 publications

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“…Secondly, the Chinese housing market has been the object of various policy interventions (Du and Zhang, 2015;Li et al, 2017;Shi et al, 2022;Sun et al, 2021). The government regulation measures including controls on land supply, restrictions on home purchases and mortgage lending, and implementation of price controls have played a crucial role in shaping the housing supply, demand, and price in China.…”

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Integration and Risk Transmission across Supply, Demand, and Prices in China's Housing Market

Nong

2023

Preprint

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This study explores the dynamic integration and risk transmission in the Chinese (residential) housing market using variance decompositions from the vector autoregression model. Our study covers the period from January 2000 to September 2022. The study’s results indicate that total connectedness changes over time, suggesting that it is sensitive to time-specific developments and short-run events. The new construction area is more likely to lead, while the construction area, especially the completed area, acts as a follower in the supply side of China’s housing market. Directional connectedness indicates that supply-side shocks generally lead demand-side shocks. Moreover, shocks usually run from housing prices to the supply side, and from the demand side to housing prices. This study also supports the predictive ability of connectedness measures for macroeconomic conditions, suggesting meaningful implications for investors, real estate developers, and policymakers. JEL Classifications: R21, R31

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confidence: 99%

Integration and Risk Transmission across Supply, Demand, and Prices in China's Housing Market

Nong

2023

Preprint

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show abstract

Integration and risk transmission across supply, demand, and prices in China’s housing market

Nong

2024

Econ Change Restruct

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The impacts of housing purchase restriction policy on residential land supply in China

Wang,

Zhou,

Chen

et al. 2024

Habitat International

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The impact of a home purchase restrictions (HPR) policy on the distressed property market in Beijing

Cited by 4 publications

References 34 publications

Integration and Risk Transmission across Supply, Demand, and Prices in China's Housing Market

Integration and Risk Transmission across Supply, Demand, and Prices in China's Housing Market

Integration and risk transmission across supply, demand, and prices in China’s housing market

The impacts of housing purchase restriction policy on residential land supply in China

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