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作者

Yina Zhang;Shengjun Zhu;Zihan Yin;Xiaoming Yao;Zhengyu Wang

来源

CITIES,Vol.97,Issue1,Article 102491

语言

英文

关键字

Inter-city house purchasing;Yangtze River Delta;geographical factors;socio-economic factors;institutional factors

作者单位

School of Social Development and Public Policy, Fudan University, Shanghai, 200433, China;College of Urban and Environmental Sciences, Peking University, Beijing, 100871, China;Laboratory for Earth Surface Processes of the Ministry of Education, Peking University, Beijing, 100871, China;School of Social Development and Public Policy, Fudan University, Shanghai, 200433, China;College of Urban and Environmental Sciences, Peking University, Beijing, 100871, China;Laboratory for Earth Surface Processes of the Ministry of Education, Peking University, Beijing, 100871, China

摘要

As regions are becoming more integrated, it is increasingly problematic to treat real estate markets in different cities as isolated entities. However, the links between them, especially via inter-city housing purchase, have remained very much unknown, due largely to the lack of fine-grained data. Armed with one unique dataset, this paper is among the first to examine the pattern, geography and decision making of inter-city housing purchase in the network of cities, using China’s Yangtze River Delta (YRD) region as an example. Another of this paper’s contributions is to formulate a tentative analytical framework that is sensitive not only to traditional socio-economic factors (e.g. relative prices) and geographical factors (e.g. geographical distance), as suggested by traditional literature based largely on advanced economies, but also to institutional factors, such as government policies, especially in the context of emerging economies. Here, we focus on one specific type of government policy—the quota system in China’s housing market. Empirical studies indicate that those three types of factor have co-shaped the geographical dynamics of inter-city housing purchase in China. Furthermore, the quota system, which is designed to control the number of housing purchases, might not function as expected.