Government Supply of Land in a Dual Market

Posted: 23 Aug 2010 Last revised: 30 Sep 2010

See all articles by Joseph T. L. Ooi

Joseph T. L. Ooi

National University of Singapore (NUS) - Department of Real Estate

C. F. Sirmans

Florida State University - Department of Risk Management, Insurance, Real Estate & Business Law

Geoffrey K. Turnbull

Georgia State University - Department of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: August 20, 2010

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 paper 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.

Keywords: government land, land auction, government land sales

Suggested Citation

Ooi, Joseph T. L. and Sirmans, C. F. and Turnbull, Geoffrey K., Government Supply of Land in a Dual Market (August 20, 2010). Real Estate Economics, Vol. 39, 2010, Available at SSRN: https://ssrn.com/abstract=1662744

Joseph T. L. Ooi (Contact Author)

National University of Singapore (NUS) - Department of Real Estate ( email )

4 Architecture Drive
Singapore 117566
Singapore

C. F. Sirmans

Florida State University - Department of Risk Management, Insurance, Real Estate & Business Law ( email )

Tallahasse, FL 32306
United States
850 644-4076 (Phone)

HOME PAGE: http://www.cob.fsu.edu/rmi

Geoffrey K. Turnbull

Georgia State University - Department of Economics ( email )

P.O. Box 3992
Atlanta, GA 30302-3992
United States
404-651-0419 (Phone)
404-651-2737 (Fax)

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