A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
The Study on the Stationarity of Housing Price-to-Rent and Housing Price-to-Income Ratios in China
This paper aims to examine whether a bubble is present in the housing market of China. Thus, we use the housing price-to-income ratios and housing price-to-rent ratios of 35 cities from 1998 to 2010. The methods of the panel KSS unit root test with a Fourier function and the SPSM process are likewise used. The panel KSS unit root test with a Fourier function considers the problem of non-linearity and structural changes, and the SPSM process can avoid the stationary time series from dominating the result-generated bias. Through a rigorous empirical study, we determine that the housing price-to-income ratios are stationary in 34 of the 35 cities in China. Only Xining is non-stationary. The housing price-to-rent ratios are stationary in 32 of the 35 cities in China. Chengdu, Fuzhou, and Zhengzhou are non-stationary. Overall, the housing bubbles are not a serious problem in China at the time.
The Study on the Stationarity of Housing Price-to-Rent and Housing Price-to-Income Ratios in China
This paper aims to examine whether a bubble is present in the housing market of China. Thus, we use the housing price-to-income ratios and housing price-to-rent ratios of 35 cities from 1998 to 2010. The methods of the panel KSS unit root test with a Fourier function and the SPSM process are likewise used. The panel KSS unit root test with a Fourier function considers the problem of non-linearity and structural changes, and the SPSM process can avoid the stationary time series from dominating the result-generated bias. Through a rigorous empirical study, we determine that the housing price-to-income ratios are stationary in 34 of the 35 cities in China. Only Xining is non-stationary. The housing price-to-rent ratios are stationary in 32 of the 35 cities in China. Chengdu, Fuzhou, and Zhengzhou are non-stationary. Overall, the housing bubbles are not a serious problem in China at the time.
The Study on the Stationarity of Housing Price-to-Rent and Housing Price-to-Income Ratios in China
Wen-Chi Liu (author)
2014-01-03
oai:zenodo.org:1090510
Article (Journal)
Electronic Resource
English
DDC:
720
Housing Price, Housing Rent, and Rent-Price Ratio: Evidence from 30 Cities in China
| British Library Online Contents | 2018
Immigration and regional housing markets: prices, rents, price-to-rent ratios and disequilibrium
| Taylor & Francis Verlag | 2022
Hedonic price–rent ratios, user cost, and departures from equilibrium in the housing market
| Online Contents | 2016
China's Urban Housing Reform: Price-Rent Ratio and Market Equilibrium
| Online Contents | 1996