Dynamics of Housing in East Asia [Hardcover]

This book is the first to evaluate the organisation, behaviour and performance of six major East Asian real estate markets. It offers a unique analysis of the growth and transformation of the real estate sector across East Asia.  The authors examine the interactions between volatility in the sector and the overall stability of the economy, in particular during the Asia financial crisis of 1997-98, and the global financial crisis of 2008-09.

• draws on the best available theoretical and empirical
  literature

 

• applies analytic tools in the context of East Asian
  institutions and policies

 

• helps understand factors affecting resilience and
  stability in East Asian real estate markets.

Preface xi

Part I: Foundations and Emergence of Modern East Asian Housing Systems 1

1 Introduction: Motivations of the Study 3

1.1 The first comparative study of housing dynamics across East Asian countries 3

1.2 Distinguishing features of East Asian economies 6

1.3 Organization of the book 12

2 Growth Take-Offs and Emerging EA Housing Systems 21

2.1 East Asia and the global experience with growth and development 22

2.2 East Asian growth policies from an urbanization and housing perspective 27

2.3 East Asia has had the highest tempos of urbanization in the world 35

2.4 The 50% urban population marker signaled the arrival of the growth transition 36

2.5 Exceptionally powerful land price increases during East Asian grló¤