International Housing Market Experience and Implications for China

Rebecca L. H. Chiu is a Professor and Head of the Department of Urban Planning and Design, and Director of the Centre of Urban Studies and Urban Planning and One Belt One Road Urban Observatory at the University of Hong Kong. She is an elected Fellow of the Academy of Social Sciences in the UK. Her current research interests include housing and urban sustainability in high-density Asian cities, housing in Hong Kong and China, comparative housing and planning studies, liveability in high-density cities and in ageing communities, and urban governance and urban management in China and the Belt and Road Region. She is the Founder Chairman of the Asia Pacific Network for Housing Research. She has been appointed to government boards and committees on housing, urban planning, land, urban renewal, and natural and heritage conservation in Hong Kong and elsewhere. She is co-author of Politics, Planning and Housing Supply in Australia, England and Hong Kong and chief editor of Housing Policy and Social Development in Asia, both published by Routledge. Zhi Liu is a Senior Fellow and Director of the China Program at the Lincoln Institute of Land Policy, and Director of Peking University-Lincoln Institute Center for Urban Development and Land Policy in Beijing. Previously, he was a lead infrastructure specialist at the World Bank, where he gained many years of operational experience in the infrastructure and urban sectors. His research interests are infrastructure finance, municipal finance, land policy, and housing policy. He serves on several expert committees or advisory groups to the central and local governments in China on national social and economic planning, affordable housing policy, and fiscal policy reform. Bertrand Renaud is an international consultant on urban development and financial markets development. Formerly, he was Adviser in the Financial Development Department of the World Bank, an institution where he has held various positions in finance and in urban affairs. He was the first Head of the Urban Affairs Division of the OECD in Paris. Previously, he was Professor of Economics at the University of Hawaii, where he specialized in Asian urban development. He has taught and done research in US and Asian universities, including MIT, Seoul National University, the University of Hong Kong, and the KDI School of Public Policy in Seoul, Korea. He has published extensively. His latest book, The Dynamics of Housing in East Asia, was co-authored with Kyung-hwan Kim and Man Cho, and published by Wiley-Blackwell of Oxford in 2016. He holds MS and PhD degrees from the University of California at Berkeley, and an engineering degree from the Paris Institute of Technology for Life Sciences and the Environment, France. He is a Fellow of the Weimer School of the Homer Hoyt Advanced Studies Institute.

PART 1: Housing challenges, policies, and reforms

1 Global and local housing challenges

BERTRAND RENAUD, REBECCA L. H. CHIU, AND ZHI LIU

PART 2: Housing challenges of developed economies

2 Taming real estate bubbles with technology

EDWARD GLAESER

3 Thinking of the development of housing policy

HANNU RUONAVAARA

4 House prices, land rents, and agglomeration benefits in the Netherlands

COEN N. TEULINGS

5 Green Belts, edgelands, and urban sprawl: Reconsiderations of Green Belt concepts

GUY M. ROBINSON

6 Land and housing market dynamics and housing policy in Japanese metropolitan cities

EIJI OIZUMI

7 The role of government and housing market dynamics in Korea

SEONG- KYU HA

8 The land and housing delivery system in Korea: Evolution, assessment, and lessons

MAN CHO, KYUNG- HWAN KIM, SOOJIN PARK, AND SEUNG DONG YOU

9 Housing price, housing mobility, and housing policy in Taiwan

CHIEN- WEN PENG, BOR- MING HSIEH, AND CHIN- OH CHANG

10 Housing challenges in Hong Kong’s dualistic housing system: Implications for Chinese cities

REBECCA L. H. CHIU

11 Building an equitable and inclusive city through housing policies: Singapore’s experience

SOCK- YONG PHANG

PART 3 :Urban housing development and outcomes in China

12 The long- term dynamics of housing in China

BERTRAND RENAUD

13 Urban housing challenges in mainland China

ZHI LIU AND YAN LIU

14 Migration and urban housing market dynamics in China

YA PING WANG

15 Residential land supply and housing prices in China: An empirical analysis of large cities

HUINA GAO, ZHI LIU, AND YUE LONG

PART 4: Implications for China

16 A roadmap for housing policy: Lessons of international experience

EDWARD GLAESER, REBECCA L. H. CHIU, ZHI LIU, AND BERTRAND RENAUD