scholarly journals International Real Estate Review

2002 ◽  
Vol 5 (1) ◽  
pp. 115-132 ◽  
Author(s):  
Yong Tu ◽  
◽  
Grace K. M. Wong ◽  
Keyword(s):  
Housing Market ◽  
Public Housing ◽  
Public Policies ◽  
Housing Price ◽  
Market Prices ◽  
The Public ◽  
New Public ◽  
Private Housing ◽  
Price Determinants ◽  
Housing Units

In Singapore, the public resale housing market is an active second-hand housing market, whereby previously subsidised new public housing units were being transacted at market prices. In contrast to the private housing price determinants that have been identified in the international literature, the prices of public resale housing in Singapore are largely determined by public policies rather than by economic variables. This paper provides some empirical evidence on how and to what degree public housing policies affected the price dynamics of public resale housing in Singapore during the 1990s. The findings have additional implications of the wider consequences of public policies on the prices of private housing units.

scholarly journals Hedonic indexes for public and private housing in Costa Rica

2017 ◽  
Vol 10 (1) ◽  
pp. 140-155
Author(s):  
Porfirio Guevara ◽  
Robert Hill ◽  
Michael Scholz
Keyword(s):  
Costa Rica ◽  
Public Sector ◽  
Private Sector ◽  
Public Housing ◽  
Public And Private ◽  
Content Type ◽  
The Public ◽  
Private Housing ◽  
Public And Private Sector

Purpose This study aims to show how hedonic methods can be used to compare the performance of the public and private sector housing markets in Costa Rica. Design/methodology/approach Hedonic price indexes are computed using the adjacent-period method. Average housing quality is measured by comparing hedonic and median price indexes. The relative performance of the public and private sector residential construction is compared by estimating separate hedonic models for each sector. A private sector price is then imputed for each house built in the public sector, and a public sector price is imputed for each house built in the private sector. Findings The real quality-adjusted price of private housing rose by 12 per cent between 2000 and 2013, whereas the price of private housing rose by 9 per cent. The average quality of private housing rose by 45 per cent, whereas that of public housing fell by 18 per cent. Nevertheless, the hedonic imputation analysis reveals that public housing could not be produced more cheaply in the private sector. Social implications The quality of public housing has declined over time. The hedonic analysis shows that the decline is not because of a lack of competition between construction firms in the public sector. An alternative demand side explanation is provided. Originality/value This study applies hedonic methods in novel ways to compare the relative performance of the public and private housing sectors in Costa Rica. The results shed new light on the effectiveness of public sector housing programs.

Spatial Aspects of Intraurban Migration Behaviour in a Mixed Housing Market

1981 ◽  
Vol 13 (3) ◽  
pp. 355-371 ◽  
Author(s):  
R G Ford ◽  
G C Smith
Keyword(s):  
Housing Market ◽  
Public Housing ◽  
Housing Sector ◽  
Tenure Security ◽  
Migration Patterns ◽  
The Public ◽  
Spatial Properties ◽  
Migration Behaviour ◽  
Vacancy Model ◽  
Housing Submarkets

This paper examines the validity of J S Adams's propositions concerning the spatial properties of overt migration behaviour in the context of a British city (that is, Birmingham) with a significant public housing sector. Samples of migration moves associated with separate housing submarkets, identified on the basis of tenure/dwelling type criteria, are tested for sectoral, directional, and distance biases. Mean movement distances are computed to measure distance bias, and sectoral and directional biases are assessed by two move-angle models: (1) a uniform vacancy model, and (2) a weighted vacancy model which controls for the effects of a vacancy surface on migration patterns. In general, the results suggest that support for Adams's propositions is limited to moves associated with submarkets either in the private or in the public housing sectors characterized by relatively high levels of tenure security. It is concluded that locational preferences usually assume a low priority in migration decisionmaking when households are only temporarily committed to their current dwellings.

scholarly journals The Private Housing Market Cyclical Price Dynamics

2020 ◽  
Vol 6 (2) ◽  
pp. p173
Author(s):  
SUN, Jingbo ◽  
HO, Kim Hin / David
Keyword(s):  
Housing Market ◽  
Housing Price ◽  
Market Mechanism ◽  
Price Dynamics ◽  
Herd Behavior ◽  
Momentum Strategy ◽  
For Profit ◽  
Long Run ◽  
Private Housing ◽  
Housing Price Dynamics

Two types of heterogeneous investors (momentum and disposition) form a unique difference model to interpret housing price dynamics. Three parameters are crucial: auto-correlation, the rate of mean reversion and the contemporaneous adjustment towards long-term equilibrium price. For Singapore, we examine the dynamic structures that oscillate and/or diverge from equilibrium. Disposition investors predominate although the interaction between momentum and disposition investors acts as a key determinant of private housing price dynamics for a given time in a specific market. Key implication is that Singapore’s private housing market is low risk, offering stable returns owing to virtually no divergence even in the speculative 1990s. The best way to invest is to consider the momentum strategy and avoid the herd behavior for profit sustainability. For policy-makers, the Singapore private housing market is over-damped in the long run. Predominating disposition investors contribute to the market mechanism, which automatically adjusts private housing market prices. It is imperative to relax government intervention in Singapore’s private housing market to enhance its efficiency.

scholarly journals Price Determinants and GIS Analysis of the Housing Market in Vietnam: The Cases of Ho Chi Minh City and Hanoi

2018 ◽  
Vol 10 (12) ◽  
pp. 4720
Author(s):  
You Chung ◽  
Ducksu Seo ◽  
Jaehwan Kim
Keyword(s):  
Housing Market ◽  
Central Government ◽  
Housing Price ◽  
Real Estate Market ◽  
Hedonic Model ◽  
Ho Chi Minh City ◽  
Infrastructure Development ◽  
Related Factors ◽  
Price Determinants ◽  
The Impact

Since the introduction of the Doi Moi economic reform in 1986, the real estate market in Vietnam has witnessed a sharp increase in foreign investment inflows and a remarkable growth in the housing market, particularly for high-rise apartments in large cities. This study investigates the determinants of apartment prices in Ho Chi Minh City (HCMC) and Hanoi, the two most representative cities in Vietnam. The spatial distribution of apartments and their price determinants were addressed by the spatial analysis of Geographic Information System (GIS) and the hedonic model. The price determinants of both cities were closely associated with downtown-related factors; moreover, the externalities of urbanization affected each city. While HCMC was more related to the locational attributes of urban amenities and community density as well as programs because of unmanaged urbanization, Hanoi was more related to housing attributes, since the majority of apartment projects were developed under urban infrastructure development supported by the central government. Apartment cluster maps of each city clearly show the contrast of housing distribution. Our findings clarify the impact of government policies on housing price determinants and can be a reference for private- and public-sector stakeholders seeking to undertake economically and socially sustainable housing development projects in Vietnam.

The Fall of Connie Chambers and the Rise of Posadas Sentinel

2018 ◽  
pp. 256-289
Author(s):  
Lawrence J. Vale
Keyword(s):  
Housing Market ◽  
Public Housing ◽  
Urban Renewal ◽  
Low Income ◽  
Community Services ◽  
Hope Vi ◽  
Revitalization Effort ◽  
The City ◽  
Housing Units ◽  
Low Income Households

Chapter 9 chronicles the demise of Tucson’s Connie Chambers project during the 1980s and its replacement by Posadas Sentinel. The city’s Community Services Department (CSD) used HOPE VI to redevelop the property as Posadas Sentinel, part of a wider revitalization effort in the surrounding barrio. Acutely conscious of neighborhood critics who feared further insensitive urban renewal, the city assiduously worked to maximize housing opportunities for residents of Connie Chambers. As with Orchard Gardens but unlike River Garden, Tucson’s city leaders premised the redevelopment on occupancy by very low-income households, while seeking other ways to diversify range of incomes. The CSD replaced all two hundred public housing units but, rather than put these all back into the original barrio site, took advantage of the city’s peculiar housing market and scattered much of the housing across the city by purchasing homes in a variety of new or vacant subdivisions.

Design as an Agent for Public Policy Innovation

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Federico VAZ ◽  
Sharon PRENDEVILLE
Keyword(s):  
Public Policy ◽  
Process Model ◽  
Public Policies ◽  
Policy Innovation ◽  
Design Methods ◽  
Policy Effectiveness ◽  
The Public ◽  
Dependent Activity ◽  
Effectiveness And Efficiency ◽  
Context Dependent

Described as units developing public policies in a design-oriented manner, Policy Labs are tasked to innovate to gain in policy effectiveness and efficiency. However, as public policymaking is a context-dependent activity, the way in which these novel organisations operate significantly differs. This study discusses the emergence of design approaches for policy innovation. The purpose is to map how Policy Labs in Europe introduce design approaches at distinct stages of the policymaking cycle. For this study, 30 organisations in Europe operating at various levels of government were surveyed. Based on the public policymaking process model, it investigates which design methods are Policy Labs deploying to innovate public policies. The study exposed a gap in the awareness of the utilised methods' nature. It also showed that the use of design methods is of less importance than the introduction of design mindsets for public policy innovation, namely ‘user-centredness’, ‘co-creation’, and ‘exploration’.

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