An Examination of the Chinese Housing Market through the Lens of the DiPasquale-Wheaton Model: a Graphical Attempt

Authors: Charles Ka Yui Leung and Wei Wang

Start Page: 131
End Page: 165
Volume: 10
Issue Number: 2
Year: 2007
Publication: International Real Estate Review

Abstract:

Many existing studies on the China real estate industry are empirical, or policyoriented. This paper complements the literature by adopting the DiPasquale and Wheaton model (1996) to study the China housing market, and trace the impact of different policies. Surprisingly, the model is capable of accounting for several developments in the market. We also extend the model to a dual-class
housing situation, not only for the analysis of a recent policy change in China, but also for the potentially independent interest of other countries. A summary of the evolution of recent China housing policies is provided.

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