Volume 1, Number 1 (2016)
Year Launched: 2016
Journal Menu
Previous Issues
Why Us
-  Open Access
-  Peer-reviewed
-  Rapid publication
-  Lifetime hosting
-  Free indexing service
-  Free promotion service
-  More citations
-  Search engine friendly
Contact Us
Email:   service@scirea.org
Home > Journals > SCIREA Journal of Civil Engineering and Building Construction > Archive > Paper Information

Risk allocation in housing development: A cross-national comparison between Sweden and China

Volume 1, Issue 1, October 2016    |    PP. 1-17    |PDF (214 K)|    Pub. Date: October 1, 2016
   449 Downloads     3268 Views  

Yongzhou Hou, Central University of Finance and Ecoomics
Hans Lind, Central University of Finance and Ecoomics

The recent global financial crisis points to the importance of the allocation of risks among different housing market actors. The purpose of the paper is to provide taxonomy for identifying and comparing the allocation of risks typically in China and Sweden during housing development and ownership. The risk assessments are based on a number of research reports and our direct knowledge concerning the typical situations in Sweden and China. The main findings are as follows. The banks and governments appear to take more risks in China, especially as the Chinese developers have a weaker financial situation than in Sweden. Political risks are higher in Sweden as the planning process gives the citizens a number of opportunities to appeal against government decisions. It is argued that these differences can be related to the higher priority given to housing construction in China.

Risk, Housing Development, China, Sweden.

Cite this paper
Yongzhou Hou, Hans Lind, Risk allocation in housing development: A cross-national comparison between Sweden and China, SCIREA Journal of Civil Engineering and Building Construction. Vol. 1 , No. 1 , 2016 , pp. 1 - 17 .


[ 1 ] Boverket (2005), Housing Statistics in the European Union 2004. Karlskrona.
[ 2 ] Cao, J.A. (2009), Developmental state, property-led growth and property investment risks in China, Journal of Property Investment & Finance, Vol. 27, No.2, pp. 162-179.
[ 3 ] Caplin, A, Chan S, Freeman C & Tracy J (1997), Housing partnerships: a new approach to a market at a crossroads. The MIT Press, Boston.
[ 4 ] Chen, D. (2005), Introduction to Taxation on Real Estate.Chinese Market Press
[ 5 ] Daniel, V, Florax R & Rietvald P (2007) Flooding risk and housing values: An economic assessment of environmental hazard.  Working Paper 07-02, Purdue University.
[ 6 ] DeJong, F, Driessen, J & von Hemert, O (2008) Hedging House Price Risk: Portfolio Choice with Housing Futures. Working Paper, Stern School of Business, New York.
[ 7 ] Deng, P (2009) A Comparative Study of the Rental Housing Markets in Five EU Countries and Lessons for the Chinese Case. Master Thesis, Division of Building and Real Estate Economics, KTH, Stockholm.
[ 8 ] Englund P, Hwang M and Quigley J (2002), Hedging Housing Risk, Journal of Real Estate Finance and Economics, vol 24, p 166-200.
[ 9 ] Ho, K H & Su, H (2006) Structural prepayment risk behavior of the underlying mortgages for residential mortgage life insurance in a developing market, Journal of Housing Economics, 15, 257-278.
[ 10 ] Hou, Y. & Lind, H. (2009), Risk allocation on the housing market: A comparison between Sweden and China. In Hou Y, Urban housing markets in China. Royal Institute of Technology. Stockholm, Sweden,
[ 11 ] Kalbro, T. (2007),  Markexploatering; juridik, ekonomi, teknik och organisation. Norstedts Juridik (tredje reviderade upplagan). Stockholm.
[ 12 ] Kalbro, T. & Lind, H. (2000). Plan- och byggprocessen. Tidsåtgång och kostnader. Bilaga 1 i Plan- och byggprocessens längd, Riksdagens Revisorers förslag till riksdagen, 2001/02;RR8.
[ 13 ] Kalbro, T. & Lindgren, E. (2008). Plan- och byggprocessen, privata planinitiativ och tidsfrister. Report 4:106 Division of Real Estate Studies, KTH, Stockholm.
[ 14 ] Kalbro, T. & Smith, P. (2008). Exploateringsavtal. Lagstöd, tillämpning och förslag till nya principer. Report 4:104. Division of Real Estate Studies, KTH, Stockholm.
[ 15 ] Leicester, R, Wang, C-H, & Cookson, L (2008) A reliability model for assessing the risk of termite attack on housing in Australia, Reliability Engineering and System Safety 93 (2008) 468–475
[ 16 ] Lind, H (2002), Market-Oriented Land-Use Planning: A conceptual analysis. Planning and Markets  , Vol. 5. 2002.
[ 17 ] Lind, H. (2003). Bostadsbyggandets hinderbana. Rapport till ESO (Expertgruppen för studier i offentlig ekonomi).
[ 18 ] Mandel, S. (2001), Ground Leases & Local Property Taxes, Division of Building and Real Estate Economics, KTH, Stockholm.
[ 19 ] Nakagawa, M, Saito, M & Yamaga, H, (2007) Earthquake risk and housing rents: Evidence from the Tokyo Metropolitan Area, Regional Science and Urban Economics. 37. pp. 87-99.
[ 20 ] Niu, F. and Li, J. (2009) China Real Estate Development Report, Social Science Literature Press, Beijing.
[ 21 ] Nordvik, V. (2001), A Housing Career Perspective on Risk, Journal of Housing Economics, 10, pp. 456-471.
[ 22 ] Quek, M.C.H. and Ong, S.E. (2007), Securitising China real estate: a tale of two China-centric REITs, Journal of Property Investment & Finance, Vol. 26, No.3 pp. 247-274,
[ 23 ] Quigley, J (2006), Real estate portfolio allocation:The European consumers’ perspective, Journal of Housing Economics 15 , p 169–188.
[ 24 ] Rönnberg, M., (2002), Staten fick Svarte-Petter. ESO, Stockholm.
[ 25 ] Scanlon, K, Lunde, J & Whitehead, C. (2008), Mortgage Product Innovation in Advanced Economies: More Choice, More Risk, European Journal of Housing Policy, 2008, Vol. 8, Issue 2, pp. 109-131.
[ 26 ] Sinai, T & Souleles, N (2005), Owner-Occupied Housing As A Hedge Against Rent Risk, Quarterly Journal of Economics, 2005, v120 (2,May), pp.763-789.
[ 27 ] Wang, F. & Yin, Y. (2006), Property developers in Sweden and China (mainland): A comparison of Besqab AB and SUPERSHINE CO., LTD, Div of Building and Real Estate Economics, KTH, Stockholm.
[ 28 ] Warsame, A (2009) Organizational modes in the residential building sector in Sweden, Construction Management and Economics, Vol. 22, issue 2, 153-163.
[ 29 ] Zhou, C. (1996), China Real estate market Yearbook, Chinese Planning Press, Beijing.

Submit A Manuscript
Review Manuscripts
Join As An Editorial Member
Most Views
by Sergey M. Afonin
3057 Downloads 61980 Views
by Jian-Qiang Wang, Chen-Xi Wang, Jian-Guo Wang, HRSCNP Research Team
15 Downloads 51278 Views
by Syed Adil Hussain, Taha Hasan Associate Professor
2418 Downloads 25002 Views
by Omprakash Sikhwal, Yashwant Vyas
2486 Downloads 21039 Views
by Munmun Nath, Bijan Nath, Santanu Roy
2364 Downloads 20643 Views
Upcoming Conferences