Notice of RetractionLand supply, developer strategy and housing price: Evidence from Beijing

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

Recently housing price in Beijing has gone up fast and the restrictive Land supply policy has been blamed for this. To analyze effects of government´s land-supply and developers´ land-bank on housing price, this article extends the traditional stock-flow model by incorporating land-supply and land-banking. Using Beijing data from 1992 to 2009, the empirical results show that land supply has a significant negative effect on housing price which is larger when tight land policy was undertaken after 2005. We also find that more land in developers´ land banks, faster housing price rises.