In this study, we exploit a policy shock that differentially increased capital gains taxes for housing units with holding period less than 5 years, and document tax avoidance and tax evasion in the residential resale market in China. We show suggestive evidence that after the capital gains tax...

In this study, we provide a comprehensive overview of housing affordability in China from both the macro and micro perspectives. We extend the scope of housing affordability analysis to all Chinese cities based on a unique panel dataset in 275 Chinese prefecture cities from 2014 to 2018. We also...

The topic of air pollution has drawn considerable attention globally. In this paper, we examine the immediate effect of air pollution on a substantial decision, that is, a housing purchase. By linking housing purchasing behavior with the air quality in Beijing, we document market participants'...

The governments of Malaysia and Singapore reached a landmark agreement in May 2010 to end the leases for the nearly 80-year-old railway lines and stations in Singapore, which were operated by Keretapi Tanah Malaya (KTM), a firm owned by the Malaysian government, with effect from July 1, 2011....