Non-mortgage loans in the Chinese residential real estate market
International Journal of Housing Markets and Analysis
ISSN: 1753-8270
Article publication date: 12 November 2021
Issue publication date: 1 December 2022
Abstract
Purpose
From January 2021, the potential flow of Chinese household non-mortgage loans, including business loans and short-term consumption loans to the residential real estate market, has attracted the attention of the regulatory authorities. This study aims to examine the effects of household non-mortgage loans on the Chinese residential real estate market.
Design/methodology/approach
Based on a monthly data set between July 2011 and December 2019, this study adopts a cointegration analysis.
Findings
This study finds that household non-mortgage loans do play a significant role in driving residential real estate prices in China.
Originality/value
While many studies have examined the Chinese real estate market and its linkage with the financial system and the economy, this study is the first of its kind in the academic literature that exclusively focusses on the role of non-mortgage loans in real estate prices, and makes an original contribution.
Keywords
Acknowledgements
The author would like to thank anonymous referees for valuable comments on an earlier version of this article. All errors are the author’s sole responsibility.
Funding: This research did not receive any specific grants from funding agencies in the public, commercial or not-for-profit sectors.
Availability of data and material: The data sets used and/or analysed during the current study are available from the corresponding author on reasonable request.
Citation
Liu, K. (2022), "Non-mortgage loans in the Chinese residential real estate market", International Journal of Housing Markets and Analysis, Vol. 15 No. 5, pp. 1275-1295. https://doi.org/10.1108/IJHMA-09-2021-0102
Publisher
:Emerald Publishing Limited
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