“…On the demand side, because government intervention in land market can help preserve environmental amenities, enhance accessibilities and promote more efficient provision of public service and infrastructure, it can increase the demand for housing through an amenity effect (Cheshire & Sheppard, 2002;Dawkins & Nelson, 2002;Ihlanfeldt, 2007). On the supply side, government intervention in land market can lead to a decline in the amount of land available for housing development, which in turn will put downward pressure on new housing supply (Cheshire & Sheppard, 2004Dawkins & Nelson, 2002;Gerald, 1992;Hui & Ho, 2003;Ihlanfeldt, 2007;Kim, 1993;Kim & Cho, 2010;Monk & Whitehead, 1999;Saiz, 2010;Vermeulen & van Ommeren, 2009). Because governments around the world are faced with the task of ensuring an adequate supply of housing to meet demand, improving housing affordability and maintaining stability in the property market (Chen, Hao, & Stephens, 2010;Chiu, 2007;Kim & Cho, 2010;Ooi, Sirmans, & Turnbull, 2011;Rosen & Ross, 2000), examining the impacts that government intervention in land market has on real estate market outcomes is an area that deserves research attention.…”