We estimate quarterly dynamic housing demand and investment supply models for Sweden and UK for the sample period 1970-1998 using an Error Correction Method (ECM). This method requires as a preliminary step that we test for the order of integration and cointegration. The ECM models seem...

Since 2004, two auction mechanisms – listing auctions and tender auctions – have played a dominant role in land lease arrangements for real estate development in Beijing. Listing auctions in land markets are similar to general English auctions, where bidders offer the highest price...

In the traditional model, an increase of interest rate will lead to a decreasing investment level because of decreasing net present values of investment projects. However, when the impact of uncertainty in the presence of irreversibility is considered, the value of waiting is introduced to the...

ERES:conference

After three decades of housing reform, Chinese government embarked on a large-scale expansion of public housing provision over the last few years. This very ambitious plan of public housing construction aims at reducing the negative impacts from global economic slowdown since 2008; at the same time,...

We estimate quarterly dynamic housing demand and investment supply models for Sweden and the UK for the sample period 1970-1998, using an Error Correction Method (ECM). To facilitate comparisons of results between Sweden and the UK we model both countries identically with approximately almost...

Significant fluctuations in house prices have received considerable attention in recent years. An understanding of the forces underlying the departure from fundamental values is important in explaining the mechanisms underlying housing market performance and predicting potential house price...

The aim of this paper is to analyse security aspects on home ownership in a European perspective. The conventional view is that homeowners' security is achieved through equity formation in their homes. This opens up possibilities to withdraw equity in order to supplement a faulting social...

Housing affordability has long been on the agenda of China’s policy makers. Imperfections in the housing system and growing disparities in income and wealth have been central to the problem of affordable housing. Housing reforms in China led to the creation of a market-oriented housing...