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- Title
Government Supply of Land in a Dual Market.
- Authors
Ooi, Joseph T.L.; Sirmans, C.F.; Turnbull, Geoffrey K.
- Abstract
A dual land market is one in which the government owns a significant portion of developable land while real estate development is done primarily by the private sector. This article examines Singapore's experience with its system of government land supply in a dual market, focusing on its response to market signals as well as the interaction with the significant private supply of land. The example is relevant to the general problem of government sales of valuable assets. The private supply of developable land behaves in line with expectations. The government response to price signals differs only modestly from that of private landowners.
- Subjects
SINGAPORE; LAND use; RESIDENTIAL real estate; FEDERAL government; REAL property auctions; PRIVATE sector; CAPITALISM; INTERSTATE land sales; BUSINESS cycles
- Publication
Real Estate Economics, 2011, Vol 39, Issue 1, p167
- ISSN
1080-8620
- Publication type
Article
- DOI
10.1111/j.1540-6229.2010.00290.x