Multiple Homeownership and Housing Affordability in Urban China
In recent years, it has been a controversial debate that the development of multiple home ownership impacts the housing affordability of the middle and low income households when more and more rich own second homes. The type of multiple residences can be divided as but-to-let, buy-to leave, and non commercial self used purposes. The housing price in the high and middle quality markets will rise rapidly when the higher income households buy more high and middle quality nouses because the supply can not increase in the short term. If their purposes are non-commercial self used purposes and buy-to leave and keeping the housing vacancy before transaction, their actions will decrease the housing affordability of middle and low income households. The rent will keep steady when the purpose is buy- to-let so that there will be nearly no impact on the housing affordability of low and middle income households. The impact will vary in the long-run and depends on the supply and demand side. If the supply is limited, the impact will be the same as that in the short run. The suggestions of the second home(s) policy are discussed finally.
Second property Housing affordability Urban China
XIAZu-yang ZHANG Ya-juan CHEN Xiao-feng LEE Ling-jie
Department of Urban and Real Estate Management, Central University of Finance and Economics,Beijing, PR. China, 100081
国际会议
2010 International Conference on Public Administration(6th)(2010 第六届公共管理国际会议)
澳大利亚堪培拉
英文
39-44
2010-10-22（万方平台首次上网日期，不代表论文的发表时间）