G04 - Wilkinson Building
The University of Sydney
The increasing integration of the globalized financial market and real estate has resulted in growing levels of international investment in property markets. Housing, as a non-tradable social good in the past, is becoming a kind of investment asset, which can be supplied locally and demanded internationally. Consequently, the changes of one country’s domestic housing policy will not only create impacts on its domestic housing market, but may also produce direct and indirect repercussions on international real estate arenas.
Under this context, Sha’s research focuses on analysing the growing interactions between domestic housing policies and international housing markets. In her current research, China, a housing market that has been intervened in excessively in recent years by Chinese Central Government, has been utilised as an example.
Through analyzing China’s recent interventional policies and Chinese increasing outward investment in global real estate markets, Australia in particular, her research attempts to answer how individual investors and developers responded to the policy changes distinctively; how housing measures pushed investors out to seek alternative opportunities overseas; what the underlying drivers of foreign investment in real estate or the motivations of individual investors and development firms can be concluded, and what kind of observable impacts and policy implications on investment influx countries can be drawn. In the current research, Sha is using interdisciplinary methods, incorporating insights from behavioral economics to examine investors’ behavior, and recent econometric applications to model potential market impacts.
Liu, S., Gurran, N. (forthcoming)
Foreign Investment in Australian Housing: Effects of China’s Domestic Housing Policy Changes on International Investment Demand, International Journal of Housing Policy (special issue).
Liu, S., Gurran, N.
Chinese Domestic Housing Policies: Understanding Investor Responses and Implications for International Housing Markets, Presented on The Asia-Pacific Network for Housing Research (APNHR) 2015, Gwangju, Korea. 2015 APNHR Conference Book, p. 176.
Liu, S., Gurran, N.
Chinese Foreign Investment in Australian Housing Markets: Understanding Investor and Developer Motivations, Presented on Australasian Housing Researchers Conference (AHRC) 2015, Hobart, Australia. 2015 AHRC Handbook, p. 48-49.