Wandering in the gray: The pricing of housing restricted by land use regulation in Beijing, China

Li, Ling; Xia, Fangzhou

doi:10.1016/j.landusepol.2022.106045

Cited by 6 publications

(5 citation statements)

References 31 publications

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“…This study uses listing prices to make SPRH and FPRH comparable. Listing prices have been used to conduct housing pricing studies in China (Li and Xia, 2022; Yang et al, 2020), with findings indicating their better reliability (Wang et al, 2020). In addition, listing price can avoid the pitfalls of transaction prices, which arise from the potential tendency of buyers and sellers of formal housing to report lower transaction prices to avoid taxes (Li and Xia, 2022).…”

Section: Data Collection and Methodsmentioning

confidence: 99%

“…As a major part of informal housing in China, SPRH prices have attracted widespread scholarly attention through the lens of tenure type or property rights. Significant discount on SPRH prices compared to FPRH is observed and considered to be the uncertainty and risk borne by the SPRH buyers (Lai et al, 2017; Li and Xia, 2022). To decipher why SPRH prices are lower than FPRH, scholars began to explore the origins of such uncertainties and risks (He et al, 2019; Qiao, 2015).…”

Section: Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

Tenure inequality, public facilities and housing prices: Evidence from Shenzhen, China

Tong,

Shen,

Tian

et al. 2024

Transactions in Planning and Urban Research

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Public facilities capitalization of formal housing has been widely discussed. However, how residents of informal housing value facilities and how they differ from formal housing remain unclear. We employ hedonic model and the gradient boosting decision trees approach to address the gap by identifying the differences between small property rights housing (SPRH) and commercial housing in Shenzhen, China. Empirical modeling results reveal that the capitalization effects of public facilities in SPRH are significantly lower than in commercial housing. SPRH buyers are significantly less willing than those commercial housing buyers to pay for public facilities, and the gap in willingness to pay between these two types of housing buyers is greater for public middle schools with access related to housing tenure than for metro stations and hospitals. After accounting for how the poor public facility provision of SPRH affects capitalization effects, we further find that informal tenure weakens SPRH capitalization effects. These findings help planners and policymakers better understand the housing market so they can take reasonable initiatives to make urban public facilities more accessible and urban housing systems more affordable, further improving the sustainability of urban areas.

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Section: Data Collection and Methodsmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Tenure inequality, public facilities and housing prices: Evidence from Shenzhen, China

Tong,

Shen,

Tian

et al. 2024

Transactions in Planning and Urban Research

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“…Even though the development of the sub‐center has only just begun, people are eager to take advantage of early movers by purchasing a home in Tongzhou, fueling the price rise with a fast‐growing demand. This phenomenon is not new in China where the property market is extremely sensitive to policy changes (Li & Xia, 2022; Sun et al, 2017; Yu & Hou, 2021).…”

Section: Background Of the Subcenter Programmentioning

confidence: 99%

City subcenter as a regional development policy: Impact on the property market

Xia

2023

Journal of Regional Science

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The aim of this study is to perform a locally specific investigation of a polycentric development policy through the lens of the property market. The capital city of China, Beijing, adopted a subcenter program for the purpose of developing a new economic growth pole in the suburbs through the redistribution of administrative and economic resources. Herein, we exploit spatial and temporal differencing in microproperty transaction data to address the issue of nonrandom selection of the site for developing the subcenter. The results show that in the first year after announcing the subcenter program, property prices in the subcenter rose by 10.5%, stabilizing at approximately 20% after 2 years of continuous increase. Moreover, property price growth decreases sharply with increased distance from the new administrative center in the subcenter, which will host tens of thousands of civil servants under the subcenter program. In response to the subcenter-induced demand shock, locations with elastically supplied housing have experienced greater population growth and weaker appreciation in property prices. Although strict purchase restrictions have helped stabilize the subcenter's property market to some extent, the fever has spread to adjacent markets. The specific geography of property market dynamics provides an important channel to evaluate the impact of the subcenter program and offers insight regarding the development of tactics to optimize subcenter outcomes.

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“…Yancheng City has implemented several policies to promote the development of affordable housing, there is a lack of reliable data on the city's housing market, which has hindered the effectiveness of these policies. The authors suggest that regular housing surveys could provide valuable insights into the city's housing market and help policymakers make informed decisions (Li & Wu, 2017).…”

Section: Problems Of Low Income and Low Rent Housing In Yancheng Citymentioning

confidence: 99%

Implementation of the socialized housing system in a second tier coastal city of the People's Republic of China

Wang,

Tamayo

2023

IJRSM

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This study aimed to enhance the socialized housing system in Yancheng City, Jiangsu Province, China. Its key objectives were to describe respondent profiles (program implementors and community members), evaluate the implementation of the socialized housing system, identify implementation challenges, analyze differences and relationships based on respondent categories, and propose an action plan for improvement. Quantitative methods were employed, and the participants included Yancheng City officials, Yueda Real Estate employees, department heads, and local community members. The findings revealed that the socialized housing system was perceived as well-implemented, primarily by community members who acknowledged facing implementation issues. Notably, significant implementation differences were observed among respondent categories, while issues encountered did not significantly vary. Furthermore, no significant relationship was found between implementation and problems. The study recommended that the government introduces new management strategies, prioritizes public housing for enterprises and institutions, enhances public housing management, increases low-cost housing square meter requirements, and establishes policies for household occupant allocation. The proposed action plan should be discussed and evaluated by higher authorities, and researchers are encouraged to conduct similar studies, specifically evaluating the system's effectiveness in different Chinese provinces. This research contributes to ongoing efforts to improve social housing and urban development in the region.

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Wandering in the gray: The pricing of housing restricted by land use regulation in Beijing, China

Cited by 6 publications

References 31 publications

Tenure inequality, public facilities and housing prices: Evidence from Shenzhen, China

Tenure inequality, public facilities and housing prices: Evidence from Shenzhen, China

City subcenter as a regional development policy: Impact on the property market

Implementation of the socialized housing system in a second tier coastal city of the People's Republic of China

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