Research On Sale Pricing Of Public Rental Housing Based On Housing Affordability Of Low-and Middle-income Tenants

In the face of rapid urbanization,building public housing at large scale is an essential government tool to ease housing difficulties of low-and middle-income families in China.In 2014,State department document named “Urban Housing Security Regulations”(a draft of discussion)introduced public housing purchase scheme,which gives Chinese tenants who have rented public housing for at least 5 years the right to purchase the houses they live in.Till 2016,there is no public purchase scheme that has carried out in any district in China because it is still a new policy orientation.Meanwhile,Many foreign countries have already implemented the policy that encourage secure tenants to purchase the public housing they live in,which can serve as examples in Literature Review chapter.The dissertation takes Chongqing as an example.Chongqing district government has proposed that tenants can purchase the public rental housing they live in as long as they rented 5 years in 2011.So far,the earliest public rental housing tenants in Chongqing have already met the requirement,which is worth to research their participation.The dissertation has four research aims.Firstly,it critically examines the development of social housing purchase schemes.Then it analyses likelihood of the tenants' participation in Chinese context based on the questionnaire.In the research sample,around 67% public rental housing renters would like to purchase public rental housing.The findings of renters' purchase intention indicate that price is the one of the significant influencing factors when renters make purchase decisions.Then residual income model is used to calculate reasonable sale price range based on the low-and meddle-income households affordable ability.Finally,a game between the municipal government and the real estate business will establish,which analyze how the government choose appropriate quality and price strategy to ensure the ratio of public rental housing prices and housing prices maintain a desired value in the final stable real estate market.This ratio is derived from the previous chapter findings.The game between government and real estate developers can better understand Chongqing real estate market and interests of different stakeholders,so as to provide a theoretical basis for the government to make reasonable decisions.