Purpose – This study investigates whether there was a housing price bubble in Beijing and Shanghai in 2003. The existence of a bubble can be interpreted from (abnormal) interactions between housing prices and market fundamentals. Design/methodology/approach – With monthly data from the two...

The aim of this research is to investigate the effects of land supply (LS) and lease conditions on the housing market. It tests whether there exists a relationship: between LS and housing price, between development conditions in government land leases and housing supply, and to what extent these...