China and international housing price growth

Chang, Yuk Ying; Anderson, Hamish D.; Shi, Song

doi:10.1016/j.chieco.2018.04.013

Cited by 14 publications

(9 citation statements)

References 46 publications

(1 reference statement)

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“…This paper also supports the finding of Lin et al (2018) that population growth has a promoting effect on urban house prices, as well as that of Liu (2023) that the size of loans has a promoting effect on house price growth. Additionally, this paper finds that FDI promotes house price growth, which is consistent with the works of Chang et al (2018) and Ahmed and Jawaid (2023), further validating that FDI is one of the factors affecting house prices. Moreover, the coefficients for Pgdp and Population were 0.1398 and 0.1681, respectively, suggesting that urban economic development and population size have a greater impact on housing prices compared to FDI, loans, and industrial structure.…”

Section: Baseline Regression Resultssupporting

confidence: 86%

The Impact of the Digital Economy on Urban House Prices: Comprehensive Explorations

Cong,

Chin,

Muhamad Senan

et al. 2024

International Journal of Strategic Property Management

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Internet technology and data-driven innovations are changing the way people live and work, which could have an impact on real estate supply and demand. Therefore, this study focuses on the relationship between urban digital economy growth and urban house prices. First, the empirical model shows that the digital economy has an inverted U-shaped impact on urban housing prices. The mechanisms underlying this relationship were then examined. The results indicated that fixed asset investment, government expenditure, and the urban environment influence the relationship between digital economy growth and urban house prices. Finally, a heterogeneity analysis revealed that the digital economy does not affect house prices in Tier 1, New Tier 1, and Tier 2 Chinese cities, but increases house prices in Tier 3 cities. In Tier 4 and Tier 5 cities, this relationship was found to be inverted U-shaped. These findings offer valuable insights to policymakers in China in balancing the growth of the digital economy and the stability of house prices.

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Section: Baseline Regression Resultssupporting

confidence: 86%

The Impact of the Digital Economy on Urban House Prices: Comprehensive Explorations

Cong,

Chin,

Muhamad Senan

et al. 2024

International Journal of Strategic Property Management

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“…Finally, we likely provide preliminary evidence for an alternative explanation of the surge in Chinese OFDI (or, by and large, OFDI from emerging markets): Chinese firms took advantage of the rare opportunity provided by the government to transfer assets overseas through CBAs (Buckley et al , 2018; Chang et al , 2018; Gunter, 2017). The rapid surge in OFDI from emerging markets has prompted scholars to find new theories on internationalization.…”

Section: Introductionmentioning

confidence: 86%

“…Buckley et al (2018) identified this topic as a critical area for future research and emphasized that “the use of FDI as a cover for capital flight is growing” (p8), e.g. investment in tax havens (Buckley et al , 2015) and foreign real estate (Chang et al , 2018).…”

Section: Literature Methods and Hypothesesmentioning

confidence: 99%

Fleeing from systemic risk at home through cross-border acquisitions

Shao¹,

Wang²,

Xie³

et al. 2023

MBR

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Purpose Viewing the domestic downside risk as a “pushing” factor for outward foreign direct investment (OFDI), this study aims to examine the surge in Chinese cross-border acquisitions (CBAs) between 2008 and 2017, a unique window when private firms in China were allowed to conduct CBAs. Design/methodology/approach This study examines the effect of down-side risk on cross-border acquisition performance by using the sample of Chinese A-share listed companies from 2008 to 2017. Specifically, this study considers three kinds of systemic risk, systematic risk and idiosyncratic risk, and respectively examines their impact on CBAs activities; this study also investigates their subsequent results after CBAs activities. The contingency effect of state ownership on the above relationship is also discussed. Findings The findings reveal that pre-CBA systemic risk explains the volume of CBA activities; CBAs are followed by a reduction in systemic risk; the interactions between systemic risk and CBAs decrease with the level of state ownership; and the above results do not hold for traditional risk measures (i.e. systematic risk and idiosyncratic risk). Originality/value This study contributes to the literature by revealing the role of systemic risk as a “pushing” factor in the context of OFDI and suggesting an alternative explanation for CBAs from China: Chinese firms (especially private firms) took advantage of the rare opportunity between 2008 and 2017 given by the government to transfer assets overseas through CBA.

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“…Low interest rates, the risk of rising inflation, and the globalisation of real estate markets also sparked a heightened interest in the housing market among both lay and professional investors (e.g. Rogers & Koh 2017 ; Chang et al, 2018 ; McKenzie & Atkinson, 2020 ; Hamnet & Reades 2019 ; Wijburg & Aalbers 2017 ). The result–the increasing financialisation of housing (e.g.…”

Section: Introductionmentioning

confidence: 99%

Why so moderate? Understanding millennials’ views on the urban housing affordability crisis in the post-socialist context of the Czech Republic

Lux

Kubala

Sunega

2023

J Hous and the Built Environ

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The housing affordability crisis is one of the most pressing issues in urban centres around the globe, affecting especially young adults. Some theorists have in response begun calling for the provision of more public housing or less housing financialisation (free market). The goal of our article is to demonstrate the housing attitudes of Czech millennials towards state interventions that are designed to address the decline in housing affordability, using a quantitative attitude survey and a series of qualitative interviews. The results of our study reveal that young Czechs are sceptical about increased public housing provision as a solution, and on the whole their views align more with the neoliberal ideas, the very ideas that are criticised by critical theorists. We show that there are contextual reasons that explain why young Czechs are not calling for radical policy change - reasons such as familialism, which facilitates the intergenerational transmission of norms, habitus, and resources within families; the legacy of socialism and society transformation; a belief that more redistribution of resources could be unfair; and stronger support for competition, individualism and right-wing politics. There is also, however, some inconsistency and uncertainty in their attitudes, especially between their general worldview and their suggestions for concrete action. This study contributes to the research in the field of youth studies that looks at young people’s strategies for dealing with the problem of decreasing housing affordability, and to the discussions surrounding diverse housing policy responses to a common global challenge.

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China and international housing price growth

Cited by 14 publications

References 46 publications

The Impact of the Digital Economy on Urban House Prices: Comprehensive Explorations

The Impact of the Digital Economy on Urban House Prices: Comprehensive Explorations

Fleeing from systemic risk at home through cross-border acquisitions

Why so moderate? Understanding millennials’ views on the urban housing affordability crisis in the post-socialist context of the Czech Republic

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