The impacts of anti-speculation policies on house price movements: The case of Guangzhou, China

Ge, J

The impacts of anti-speculation policies on house price movements: The case of Guangzhou, China

Ge, J

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Publisher:: PRRES
Publication Type:: Conference Proceeding
Citation:: Proceedings of 17th Pacific Rim Real Estate Society Conference, 2011, pp. 1 - 16
Issue Date:: 2011-01

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Field	Value	Language
dc.contributor.author	Ge, J https://orcid.org/0000-0002-2252-7829	en_US
dc.contributor.editor	-	en_US
dc.date	2011-01-16	en_US
dc.date.issued	2011-01	en_US
dc.identifier.citation	Proceedings of 17th Pacific Rim Real Estate Society Conference, 2011, pp. 1 - 16	en_US
dc.identifier.uri	http://hdl.handle.net/10453/19351
dc.description.abstract	The Chinese government implemented a new regulation in April 2010 for the purpose of regulating and suppressing real estate speculation and maintaining a healthy and sustainable housing market in the long term. This policy proposes to increase the minimum down payment for purchasing second homes. First-home buyers must deposit a minimum of 30 percent down payment for purchasing properties of over 90 square meters. Buyers of second homes with areas less than 90 square meters must make a minimum of 50 percent down payment, and loans for the purchase of third homes have been temporarily suspended. The impacts and effectiveness of the policy were challenged and argued about by various groups associated with the housing market. This paper studies the results of a survey on the impact of the new regulation. The market performance is then analysed using the case of Guangzhou. Finally, elements that effect house prices and the future direction of house prices will be estimated from the demand for and supply of housing in the marketplace. The study suggests that the new regulation is effective in preventing speculative activities and that house prices in Guangzhou will decrease in the short term.	en_US
dc.publisher	PRRES	en_US
dc.relation.ispartof	Proceedings of 17th Pacific Rim Real Estate Society Conference	en_US
dc.relation.ispartof	Pacific Rim Real Estate Conference	en_US
dc.title	The impacts of anti-speculation policies on house price movements: The case of Guangzhou, China	en_US
dc.type	Conference Proceeding
utslib.location	Sydney	en_US
utslib.location.activity	Gold Coast, Australia	en_US
utslib.for	1202 Building	en_US
dc.location.activity	Gold Coast, Australia	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	open_access
pubs.consider-herdc	true	en_US
pubs.finish-date	2011-01-19	en_US
pubs.place-of-publication	Sydney	en_US
pubs.start-date	2011-01-16	en_US

Abstract:

The Chinese government implemented a new regulation in April 2010 for the purpose of regulating and suppressing real estate speculation and maintaining a healthy and sustainable housing market in the long term. This policy proposes to increase the minimum down payment for purchasing second homes. First-home buyers must deposit a minimum of 30 percent down payment for purchasing properties of over 90 square meters. Buyers of second homes with areas less than 90 square meters must make a minimum of 50 percent down payment, and loans for the purchase of third homes have been temporarily suspended. The impacts and effectiveness of the policy were challenged and argued about by various groups associated with the housing market. This paper studies the results of a survey on the impact of the new regulation. The market performance is then analysed using the case of Guangzhou. Finally, elements that effect house prices and the future direction of house prices will be estimated from the demand for and supply of housing in the marketplace. The study suggests that the new regulation is effective in preventing speculative activities and that house prices in Guangzhou will decrease in the short term.

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http://hdl.handle.net/10453/19351