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Forward pricing and the housing market: the pre-sales housing system in Taiwan

Chang, C.-O. and Ward, C. W. R., (1993) Forward pricing and the housing market: the pre-sales housing system in Taiwan. Working Papers in Land Management & Development. 06/93. Working Paper. University of Reading, Reading. pp15.

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In countries that have experienced rapid economic development, the need to establish more efficient markets in which private property can be constructed has induced some innovative solutions. One such solution is the phenomenon of a pre-sales market of the kind that can be observed in Taiwan, Korea, and more recently in China. Developers sell their property before building is started in order to acquire financing for the development companies. This paper discusses the process and, by recognising the analogy between the pre-sales market and forwards markets, analyses the implications for developers

Item Type:Report (Working Paper)
Divisions:Henley Business School > Real Estate and Planning
ID Code:27251
Publisher:University of Reading
Publisher Statement:The copyright of each working paper remains with the author. If you wish to quote from or cite any paper please contact the appropriate author; in some cases a more recent version of the paper may have been published elsewhere.

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