Research on Domestic and International Housing Market Experiences

Compiled by Zhao Lixia, Liu Zhi, and [USA] Bertrand Renaud

Peking University Press, 2023

Zhao Lixia

Zhao Lixia is an Honorary Professor at the University of Hong Kong and University College London, a Fellow of the British Academy of Social Sciences, and the founder and former Chair of the Asia-Pacific Housing Research Network. He has served as Head of the Department of Urban Planning and Design, Director of the Centre for Urban Research and Urban Planning at the University of Hong Kong, and Director of the Belt and Road Urban Research Office. He has also been appointed as a member of government committees on housing, urban planning, land development, urban renewal, country park conservation, and cultural heritage in Hong Kong and other regions.

Liu Zhi is the Director of the China Program at the Lincoln Land Policy Institute, a Senior Researcher, and the Director of the Center for Urban Development and Land Policy at Peking University-Lincoln Institute, serving on multiple expert committees or advisory groups of central and local governments in China. Former Chief Infrastructure Specialist at the World Bank, with research areas including infrastructure financing, urban finance, land policy, and housing policy.

Liu Zhi

Bertrand Renaud

Bertrand Reynard, International Consultant in Urban Development and Financial Market Development. He previously served as an advisor to the World Bank's Financial Development Department and as the first head of the OECD's Paris Urban Affairs Department. He has taught and conducted research at MIT, Seoul National University, The University of Hong Kong, and the Korea Development Institute (KDI) School of Public Policy, and is also a researcher at the Weimer School of the Homer Hoyt Advanced Studies Institute.

Part One: General Theory

Chapter 1: Global and Local Housing Challenges

1. Housing challenges after 2009

2. Housing experience and lessons accumulated both domestically and internationally

Part Two: International Housing Market Experience

Chapter 2: Using Technology to Tame the Real Estate Bubble

1. Introduction

2. Real estate booms in the US and China

3. Theory and techniques of property valuation

4. Moving toward a more complete land acquisition system

5. Moving toward a more comprehensive property tax system

6. Moving toward more comprehensive financial regulation

7. Conclusion

Chapter 3: Reflections on the Development of Housing Policy

1. Introduction

2. The four stages of housing policy

3. The various stages of Finnish housing policy

4. Review the staggered models of housing policy development

5. Conclusion

Chapter 4: Housing Prices, Rent, and Agglomeration Benefits in the Netherlands

1. Introduction

2. A simplified policy evaluation framework

3. Land rent and building value

4. Differences in land rent and the social value of aggregation

5. When should urban expansion take place?

Chapter 5: Green Belts, Marginal Areas, and Urban Sprawl

1. Introduction

2. Urban fringes

3. Green Belts: The UK Case

4. Green belts around the world

5. China's Greenbelts

6. Conclusion

Chapter 6: Land and Housing Market Dynamics and Housing Policies in Major Japanese Cities

1. Introduction: Overview of Japan's Post-Bubble Economy

2. Deregulation of land policy and urban planning

3. Stock housing and housing market dynamics

4. Housing issues and housing policies

5. Conclusion: Lessons from Japan's housing experience

Chapter 7: Dynamics of the Korean Housing Market and the Role of the Government

1. Introduction

2. Current housing status and housing market dynamics

3. The role of government and intervention in the housing market

4. Policy issues and impacts

5. Conclusion

Chapter 8: Evolution, Evaluation, and Experience of Korea's Land and Housing Supply System

1. Introduction

2. Development of land and housing supply systems

3. Performance of the supply system and its achievements in housing

4. The current housing supply system and its prominent features

5. Summary and lessons for other countries

Chapter 9: Building Equal and Inclusive Cities through Housing Policies

1. Introduction

2. Income inequality and segregation parameters

3. Develop inclusive land and housing policies in Singapore

4. Whether to build a more inclusive society

Part Three: Research on the Domestic Housing Market

Chapter 10: Housing Prices, Housing Mobility, and Housing Policies in Taiwan

1. Introduction

2. Housing market issues and their causes

3. Changes in housing prices and residential liquidity

4. Housing policy reform and affordable housing strategies

5. Challenges faced and future development

6. Conclusion

Chapter 11: Challenges Facing the Dual Housing System in the Hong Kong Special Administrative Region

1. Introduction

2. Explicit challenges

3. Hidden challenges

4. Lessons from Hong Kong's housing challenges for mainland cities

Chapter 12: Challenges in the Urban Housing Market in China mainland (inland) cities

1. Introduction

2. The Golden Age and Its Consequences

3. The impact of land finance on the housing market

4. Factors influencing housing demand

5. Housing rental market

6. Affordable housing policies and their implementation

7. Small property rights housing

8. Conclusion

Chapter 13: Population Migration and Urban Housing Market Dynamics in Chinese mainland (inland).

1. Introduction

2. Control and support policies

3. Housing development and market in the county town

4. Population migration and its impact on the urban housing market

5. Conclusion

Chapter 14: Housing Land Supply and Housing Prices in China mainland (Mainland).

1. Introduction

2. Literature Review

3. The evolution of urban residential land supply

4. Analytical framework

5. Model description and data

6. Empirical results

7. Conclusion and Policy Implications

Part Four: Blueprint for Housing Reform

Chapter 15: Suggestions for China's Housing Reform

1. Introduction: The motivation behind the reform blueprint

2. Principles and standards for designing housing policies

3. China Policy Action

4. Conclusion

Available in Dangdang and Jingdong