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作者

K.M. Leung;Lennon H.T. Choy;K.W. Chau

来源

CITIES,Vol.126,Issue1,Article 103666

语言

英文

关键字

Informal housing supply;Sub-divided units;Rent gap;Supply analysis;Property disinvestment

作者单位

Ronald Coase Centre for Property Rights Research and Department of Real Estate and Construction, The University of Hong Kong, Pokfulam, Hong Kong;Ronald Coase Centre for Property Rights Research and Department of Real Estate and Construction, The University of Hong Kong, Pokfulam, Hong Kong

摘要

This study examines informal housing supply factors through rent gap analysis. Gentrification brings displacement implication, especially for households in the lower end of the housing market. Serious affordability problem excludes households from formal housing sector. Informal housing often emerges when formal market cannot fully respond to affordable housing demand. Incentive for property owners to supply lower-cost units by informal means e.g. apartment subdivision for higher rental return is created with the rent gap between informality and formality. It is largely attributed to quasi-rent which is temporary in nature. Meanwhile, renters' housing needs are met by forgoing living space and housing facilities. Informal housing supply leads to displacement of original incumbents and inflow of lower-income class. With assistance of local non-governmental organizations, this study examines informal housing supply determinant based on a case study of sub-divided units (SDUs), which are Hong Kong's key informal housing component. Rent gap size, disinvestment conditions and accessibility of the apartments are found to be key SDU supply factors. The results could be generalized to other cities with serious housing unaffordability and informal housing arrangements. Implications are also drawn from the results for future affordable housing supply and social welfare policy implementation.