Articles:
Housing Demand in Tokyo
Authors: Piyush
Tiwari
Start Page: 65
End Page: 92
Volume: 3
Issue Number: 1
Year: 2000
Publication: International Real Estate Review
Abstract:
This paper analyzes the demand for housing in Tokyo using a
discrete choice model. Three dimensions of choice, tenure, dwelling size
(as number of rooms) and structure type (as type of unit) determine demand
for housing which are modeled simultaneously. The income elasticity of
market share of ownership house is positive and ranges between 0.16 to
0.34. However, income elasticity for rental houses is negative ranging
between -0.17 to -0.57. The own price elasticities vary over a large range
from -0.03 to -5.1 with smaller in magnitude for ownership houses and
larger for rental houses.
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