Is there a Bubble in the Chinese Housing Market?

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House Price Index Construction in the Nascent Housing Market: The Case of China (2014, background): “1 Among others, see Hui and Shen (2006), Yang and Shen (2008), Chen, Hao and Stephens (2010), Ahuja et al (2010), Dreger and Zhang (2010), and Wu, Gyourko and Deng (2012) for example.”
The Housing Market Effects of Local Home Purchase Restrictions: Evidence from Beijing (2016, methodology): “Beijing was the first city to implement the HPR. Employing the regression discontinuity design technique, we find that Beijing’s HPR policy triggered a 17-24% decrease in resale price, a drop in the price-to-rent ratio of about a quarter of its mean value, and a deep (1/2 to 3/4) reduction in the…”