Government Supply of Land in a Dual Market

A dual land market is one in which the government owns a significant portion of developable land while real estate development is done primarily by the private sector. This article examines Singapore's experience with its system of government land supply in a dual market, focusing on its respon...

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Veröffentlicht in:Real estate economics 2011-03, Vol.39 (1), p.167-184
Hauptverfasser: Ooi, Joseph T.L., Sirmans, C.F., Turnbull, Geoffrey K.
Format: Artikel
Sprache:eng
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Zusammenfassung:A dual land market is one in which the government owns a significant portion of developable land while real estate development is done primarily by the private sector. This article examines Singapore's experience with its system of government land supply in a dual market, focusing on its response to market signals as well as the interaction with the significant private supply of land. The example is relevant to the general problem of government sales of valuable assets. The private supply of developable land behaves in line with expectations. The government response to price signals differs only modestly from that of private landowners.
ISSN:1080-8620
1540-6229
DOI:10.1111/j.1540-6229.2010.00290.x