Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/70292
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dc.contributorDepartment of Building and Real Estateen_US
dc.creatorYang, XDen_US
dc.creatorWu, YXen_US
dc.creatorShen, QPen_US
dc.creatorDang, Hen_US
dc.date.accessioned2017-11-13T08:44:13Z-
dc.date.available2017-11-13T08:44:13Z-
dc.identifier.issn0197-3975en_US
dc.identifier.urihttp://hdl.handle.net/10397/70292-
dc.language.isoenen_US
dc.publisherPergamon Pressen_US
dc.rights© 2017 Elsevier Ltd. All rights reserved.en_US
dc.rights© 2017 This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/en_US
dc.rightsNOTICE: this is the author’s version of a work that was accepted for publication in International Journal of Project Management. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. The definitive version Yang, X., Wu, Y., Shen, Q., & Dang, H. (2017). Measuring the degree of speculation in the residential housing market: A spatial econometric model and its application in China. Habitat International, 67, 96-104 is available at https://doi.org/10.1016/j.ijproman.2017.04.004en_US
dc.subjectCommercial residential housing marketen_US
dc.subjectHousing pricesen_US
dc.subjectSpeculation degreeen_US
dc.subjectMoran's I indexen_US
dc.subjectSpatial econometricsen_US
dc.subjectSAR modelen_US
dc.titleMeasuring the degree of speculation in the residential housing market : a spatial econometric model and its application in Chinaen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.spage96en_US
dc.identifier.epage104en_US
dc.identifier.volume67en_US
dc.identifier.doi10.1016/j.habitatint.2017.06.005en_US
dcterms.abstractSince the housing marketization reform, China's real estate industry has rapidly developed and commercial housing prices have risen sharply. The main reason for this is the speculative demand for housing, which breaks the equilibrium of supply and demand, leading to housing prices deviating from their basic value. The housing market in China is not isolated by province, since speculative behavior in one part of the country can affect other regions. This paper analyzes the spatial relevance in housing prices among different provinces in China by calculating Moran's I index and by measuring the speculation degree through spatial autoregressive model (SAR), a spatial economic model combined with a spatial weight matrix. For commercial housing speculation degree measurement and comparison, 31 provinces in China were chosen along with the following variables: housing prices, personal disposable income, one-year personal housing mortgage rates, housing prices growing rates, the rent, amount of residential investment, and the construction areas of houses. The results show that China's housing prices have a clear interaction among the selected cities, and that housing speculation behavior also influences each other in space. Although there are speculation activities in China, from a global perspective the degree of speculation, which varies from region to region, is still just within internationally acceptable limits. Although there are some regions with high degrees of housing speculation, the speculation is not yet China-wide.en_US
dcterms.accessRightsopen accessen_US
dcterms.bibliographicCitationHabitat international, Sept. 2017, v. 67, p. 96-104en_US
dcterms.isPartOfHabitat internationalen_US
dcterms.issued2017-09-
dc.identifier.isiWOS:000410016400009-
dc.identifier.scopus2-s2.0-85024378071-
dc.source.typeArticleen
dc.identifier.eissn1873-5428en_US
dc.identifier.rosgroupid2017003101-
dc.description.ros2017-2018 > Academic research: refereed > Publication in refereed journalen_US
dc.description.oaAccepted Manuscripten_US
dc.identifier.FolderNumbera0136-n15en_US
dc.description.pubStatusPublisheden_US
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