From upstart city to ‘ghost’ city: informal housing finance in Ordos, China

2020 ◽  
Vol ahead-of-print (0) ◽  
pp. 1-25
Author(s):  
Zhu Qian
Keyword(s):  
Housing Markets ◽  
Local Property ◽  
Housing Finance ◽  
Social Classes ◽  
Special Consideration ◽  
Property Market ◽  
Informal Housing ◽  
Ghost City ◽  
Wealth Building

This paper applies the perspective of informality to examine the nexus between informal housing finance and housing markets in China. The study explores the causes, formation, influences and consequences of informal housing financing mechanisms in Ordos. It argues that informal housing finance contributes to the local property market boom and becomes an instrument of wealth building through homeownership, but classifies and reinforces social classes based on their gains from the property market. The study discusses the possibilities of institutionalizing informal housing finance and diversifying economic structures, with special consideration of resource-based frontier cities.

A new model for Auckland commercial property yields

2019 ◽  
Vol 37 (1) ◽  
pp. 42-57 ◽  
Author(s):  
Moshe Szweizer
Keyword(s):  
Local Property ◽  
International Investment ◽  
Field Application ◽  
Property Market ◽  
Investment Activity ◽  
Content Type ◽  
Commercial Property ◽  
High Data ◽  
Investment Volume ◽  
Current Cycle

PurposeThe purpose of this paper is to extend the studies of commercial property yields by providing a cross-field approach through the implementation of methods used in physics.Design/methodology/approachBased on the equations used to describe real gases in physics, the commercial property yields are expressed through a model, as a product of two terms. The first term estimates the influence of the income change and investment on yields. The second estimates the yield variation as a function of property size. Additionally, the model combines the macroeconomic and microeconomic components influencing yield adjustment. Calculation of each component involves procedures developed in physics, with the investment volume being linked to the amount of gas and the microeconomic yield being linked to the gas compressibility.FindingsThe model was applied to the Auckland office and industrial markets, both to the historic and current cycle. At the macro-level, it was found that the use of accumulation of investment over a relevant cycle, results in a high data to model correlation. When modelling the yields at the micro-level, a relationship between the outlying properties and the yield softening was observed.Practical implicationsThe paper provides an enhanced modelling power through association of the cyclic and investment activity with the yield change. Moreover, the model may be used to decouple the local and the international investment components and the extent of their influence on the local property market. Furthermore, it may be used to estimate the influence of the property size on the yield.Originality/valueThis research provides a new cross-field application of modelling techniques and enhances the understanding of factors influencing yield adjustments.

Urban Second Homes: Temporal-Dwelling in London

2009 ◽  
Vol 34 (3) ◽  
pp. 8-15 ◽  
Author(s):  
Karen Lee Bar-Sinai
Keyword(s):  
Rural Areas ◽  
Housing Markets ◽  
Built Environments ◽  
Property Market ◽  
Urban Restructuring ◽  
Second Homes ◽  
The Face ◽  
Part Time ◽  
Policy Bank ◽  
Global Data

Despite the extensive attention given to second and recreation homes in rural areas, their urban appearance has had only limited examination. This paper focuses on the trend as it is manifested in London and suggests urban second homes are an emerging phenomenon in contemporary cities. Drawing links between recreation homes and other aspects of mobility and dwelling in the global metropolis, the phenomenon is situated beyond local housing markets and placed in the context of globalization and urban restructuring. The part-time dwelling patterns it introduces are shown to challenge attempts to define and evaluate its spread. Additionally, the cross-spatial nature of urban second homes turns their owners into temporal occupants of several built environments simultaneously. They are thus defined both as a product and an emerging force in global cities, and as such beg unique attention. The phenomenon calls for the development of effective monitoring and tracking systems for addressing its development in cities. Lessons from the rural experience are used to propose policy approaches and the challenges posed by property market environment are emphasized. It is concluded that the transnational nature of urban second homes, and the inter-city connections they form and represent, call for cooperation between cities in addressing them. This may allow the creation of a global data-base and policy-bank as part of the challenge to maintain sustainable cities in the face of disappearing national borders.

Corporate Strategies in Food Retailing and Their Local Impacts: A Case Study of Cardiff

1996 ◽  
Vol 28 (9) ◽  
pp. 1575-1602 ◽  
Author(s):  
C M Guy
Keyword(s):  
Land Use Planning ◽  
Urban Areas ◽  
Local Level ◽  
Local Property ◽  
Grocery Stores ◽  
Food Retailing ◽  
Property Market ◽  
Corporate Strategies ◽  
Local Case

The development programmes of major grocery retailers in Britain have transformed the retail systems of many urban areas. Impacts upon patterns of consumer behaviour and shopping provision have been substantial. Although many writers have discussed retailers' changing corporate strategies and their implications for new store development, there is still a need for local case studies. In this paper, therefore, processes of change in grocery provision in Cardiff, a city of almost 300000 population, are examined, mainly over a recent twelve-year period. An initial burst of superstore development was accompanied by closures of many small grocery stores owned by multiple and cooperative organisations. Since about 1986, rates of new store development and of store closure have diminished. These changes were superimposed upon a longer term decline in independent food retailing. The question of trading impact is then investigated through associations over time and space of store openings and closures. Although some of the closures in this analysis appear to be explained, it is clear also that certain characteristics of the stores themselves (particularly size and location) were strongly related to the likelihood of closure. This in turn reflected corporate strategies for growth, repositioning, or retrenchment amongst the multiples concerned, mediated through the local property market and land-use planning policies. The conclusion is that the case study clearly exemplifies the impacts of recent events in British retailing, but that further studies are needed to build a comprehensive understanding of retail change at the local level.

scholarly journals Differentiation of Local Housing Markets in the Poznań Suburban Area

2013 ◽  
Vol 21 (3) ◽  
pp. 88-98 ◽  
Author(s):  
Justyna Tanaś
Keyword(s):  
Real Estate ◽  
Housing Markets ◽  
Regression Function ◽  
Single Family ◽  
Property Market ◽  
The Real Estate ◽  
Basic Source ◽  
Family Housing ◽  
Real Estate Prices ◽  
Source Of Information

Abstract In recent years, there has been a strong interest in land intended for single-family housing in the suburban zones of big cities. This is strongly related to the suburbanization process. In the present study, the author endeavored to present the differentiation of local markets of undeveloped real estate intended for single-family housing in the suburban zones of Poznań. Notary deeds related to sales transactions in the segment of undeveloped land plots were the basic source of information used in the article. The article shortly discusses the specifics of the land market in the suburban zone, presents the research method (the nature of the real estate prices index) and then, creates a regression function of plot prices and indicates hedonic prices for undeveloped plots intended for single-family housing in particular communes. Finally, it seeks to define the similarities and differences within the local undeveloped property market in the Poznań agglomeration.

Real and fake data in Shanghai’s informal rental housing market: Groundtruthing data scraped from the internet

Urban Studies ◽  
2020 ◽  
pp. 004209802091819 ◽  
Author(s):  
Julia Gabriele Harten ◽  
Annette M Kim ◽  
J Cressica Brazier
Keyword(s):  
Rental Housing ◽  
Housing Markets ◽  
Preference Order ◽  
Online Data ◽  
Informal Housing ◽  
Rental Market ◽  
Residential Units ◽  
Real Market ◽  
Rental Housing Market ◽  
Mega Cities

China’s planned mega-cities contain hidden, informal housing markets. We analyse Shanghai’s ‘group rental’ market in which formal commercial and residential units have been illegally converted into extremely crowded dormitories. In 2016, we collected more than 33,000 online classified advertisements for beds in group rental apartments and find that this market serves a specific demographic with robust preference order patterns. Furthermore, groundtruthing fieldwork revealed that the scraped online data misrepresented the market. Therefore, we also collected a second set of ‘real’ market data for comparative analysis. The study highlights both the exciting possibilities and the limitations of using online content to study informality.

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