An Examination of the Chinese Housing Market through the Lens of the DiPasquale-Wheaton Model: a Graphical Attempt
Author
Start Page / End Page
Volume
Issue Number
Year
Publication
Charles Ka Yui Leung and Wei Wang
131 / 165
10
2
2007
International Real Estate Review
Abstract
Many existing studies on the China real estate industry are empirical, or policyoriented. This paper complements the literature by adopting the DiPasquale and Wheaton model (1996) to study the China housing market, and trace the impact of different policies. Surprisingly, the model is capable of accounting for several developments in the market. We also extend the model to a dual-class
housing situation, not only for the analysis of a recent policy change in China, but also for the potentially independent interest of other countries. A summary of the evolution of recent China housing policies is provided.