Housing Provision under Globalisation: A Case Study of Shanghai

2001 ◽  
Vol 33 (10) ◽  
pp. 1741-1764 ◽  
Author(s):  
Fulong Wu
Keyword(s):  
Real Estate ◽  
Foreign Investment ◽  
Local Governments ◽  
Early Stage ◽  
Market Price ◽  
Housing Development ◽  
Real Estate Development ◽  
Socialist Economy ◽  
Housing Provision ◽  
Housing Investment

Housing provision in China has undergone significant changes since economic reform. In the early stage of reform the objective was to solve the problems that are internal to the socialist economy, namely unrecoverable housing investment and housing shortages. The state adopted policies to ‘commodify’ and ‘decentralise’ housing provision. The mode of provision was transformed from a centrally allocated budget to shared investment contributed by state work-units, local governments, and individual households. Since the 1990s Chinese cities have seen increased foreign investment in real estate development and consequently experienced an unprecedented building boom. Little is know about the impacts of globalisation on housing development. The purpose of this paper is to examine the changes in housing investment and to highlight the dilemma of housing ‘commodification’ in the process of globalisation. Specifically, foreign investment contributed to initial capital formation in real estate development and more importantly helped to create a marketised housing segment. The buoyant market price demonstrated the profitability of real estate, thus attracting more capital into housing development. The combined effect of marketisation and globalisation has led to increasing social spatial differentiation and inadequate housing provision to marginal social groups.

Foreign investment in Australian residential properties

2019 ◽  
Vol 12 (2) ◽  
pp. 166-180 ◽  
Author(s):  
Hassan F. Gholipour ◽  
Hooi Hooi Lean ◽  
Reza Tajaddini ◽  
Anh Khoi Pham
Keyword(s):  
Real Estate ◽  
Foreign Investment ◽  
House Prices ◽  
Real Estate Market ◽  
Housing Development ◽  
Housing Construction ◽  
Annual Data ◽  
Content Type ◽  
Residential Properties ◽  
The Impact

Purpose The purpose of this study is to examine the impact that foreign investment in existing houses and new housing development has on residential house prices and the growth of the housing construction sector. Design/methodology/approach The analysis is based on a panel cointegration method, estimated using annual data for all Australian states and territories spanning the period of 1990-2013. Findings The results indicate that increases in foreign investment in existing houses do not significantly lead to increases in house prices. On the other hand, a 10 per cent increase in foreign investment for housing development decreases house prices by 1.95 per cent. We also find that foreign real estate investments have a positive impact on housing construction activities in the long run. Originality/value Existing studies used aggregate foreign real estate investment in their analyses. As foreign investment in existing houses and foreign investment for housing development have different impacts on the demand and supply sides of housing market, it is crucial that the analysis of the effects of foreign investment in residential properties on real estate market is conducted for each type differently.

scholarly journals QUALITATIVE ANALYSIS OF VIEW CHARACTERISTICS OF RESIDENTIAL PROPERTY

2019 ◽  
Vol 4 (3) ◽  
pp. 44-51
Author(s):  
Марина Оберемок ◽  
Marina Oberemok ◽  
Андрей Наумов ◽  
Andrey Naumov ◽  
Марина Щенятская ◽  
...  
Keyword(s):  
Real Estate ◽  
Qualitative Analysis ◽  
Functional Dependence ◽  
Market Price ◽  
Real Estate Development ◽  
Residential Property ◽  
Residential Real Estate ◽  
High Demand ◽  
The Cost

Some kinds of residential real estate are characterized by a special view from the windows. Apartments with unique characteristics are in high demand among the population, therefore the cost of these objects exceeds the average market price. As a rule, developers try to make the best use of the visual prospects of residential real estate. The paper provides a qualimetric analysis of estimation the view characteristics of apartments in Belgorod based on the demand factors. There is the classification of view components of residential real estate on the basis of urban planning, aesthetic, emotional and other functions. Conclusions on the cost of the view are formed taking into account the criteria of its attractiveness. Functional dependence is obtaine. It allows to determine the surcharge to the cost of residential real estate based on differences in the view. The practical aim of determining the specifics of apartments pricing with a view is the ability to manage demand and to improve the efficiency of residential real estate development.

Features of property taxes and their role in the formation of local budget revenues

2019 ◽  
pp. 66-70
Author(s):  
Vasyl Prots
Keyword(s):  
Real Estate ◽  
Local Governments ◽  
Early Stage ◽  
Current System ◽  
Property Tax ◽  
Property Taxes ◽  
Local Taxes ◽  
Property Taxation ◽  
Real Estate Tax ◽  
Property Inheritance

The extension of powers and functions of local self-government bodies in the context of financial decentralization should be accompanied by an appropriate increase of local taxes and fees to local budgets. Currently, property tax is a new element of the local taxation system and a financial tool for local governments. Since the property tax system is at an early stage in its development, there are a number of debatable issues, in particular, it is really necessary to assess the current system of property taxation in Ukraine, to investigate the fiscal role of property taxes and to outline directions for its improvement. The paper argues that in contrast to Ukraine, property taxes in many countries include the taxes on certain types of property, on net assets, on transfer of property ownership. The author proves that the taxation of property is based on the following principles: equivalence; solvency and equity; fiscal efficiency and financial capacity; security; performance. The analysis shows that since 2015, due to increased tax revenues, local taxes and fees have become the second largest source of local budgets. In 2015-2017 the largest share in the structure of property tax was paid for land 90-93%, the tax on real estate, other than land plot 4,6-8,3%, transport tax 0,8-2,7%. However, the greatest increase of revenues to local budgets accounted for the tax on real estate. The main factors of the growth of property tax since 2015 are due to the inclusion of land and transport taxes to property tax and the introduction of new ratios of indexation of normative monetary estimates for calculating land payments. The shortcomings of the system of property taxation are identified, namely: the level of urbanization of the territory where the object of taxation is located is not taken into account; the existing approach to taxing the area of immovable property, different from the land, does not take into account the degree of its physical depreciation; non-compliance with the principle of social equality and the imperfect mechanism of taxation of non-residential real estate of economic entities and individuals. The paper suggests to include irregular taxes into property taxes, that is, taxes on transfer of property: inheritance tax; gift tax. To determine the amount of real estate tax and land tax, the rates should be set as a percentage of the market value of the tax object, in order to simplify the process of taxes administering.

The Changing Landscape of Asian Entrepreneurship, Minority Banks, and Community Development

2011 ◽  
Vol 9 (1-2) ◽  
pp. 78-90
Author(s):  
Tarry Hum
Keyword(s):  
New York ◽  
New York City ◽  
Data Collection ◽  
Community Development ◽  
Real Estate ◽  
York City ◽  
Commercial Real Estate ◽  
Data Sources ◽  
Real Estate Development ◽  
Public Data

This policy brief examines minority banks and their lending practices in New York City. By synthesizing various public data sources, this policy brief finds that Asian banks now make up a majority of minority banks, and their loans are concentrated in commercial real estate development. This brief underscores the need for improved data collection and access to research minority banks and the need to improve their contributions to equitable community development and sustainability.

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