Author:
Bourassa Steven C.,Peng Chien-Wen
Abstract
With an annual growth rate of 0.62 per cent since 1980, Taiwan’s homeownership rate reached 88 per cent in 2007. This study explores possible causes of Taiwan’s high homeownership rates. The institutional and economic context for tenure choice in Taiwan is reviewed, paying particular attention to the taxation and financing of owner-occupied housing, house prices relative to rents, housing subsidies and housing demand. A model of tenure choice is estimated and then used to simulate policy and other changes. It is concluded that Taiwan’s high rate of homeownership is due primarily to the low user cost of owner-occupied housing, which is due in part to house price inflation. Government mortgage subsidy policies designed to support ownership appear to have little effect.
Subject
Urban Studies,Environmental Science (miscellaneous)
Cited by
17 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献