Government Supply of Land in a Dual Market

18 Pages Posted: 14 Mar 2011

See all articles by Joseph T. L. Ooi

Joseph T. L. Ooi

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

C.F. Sirmans

affiliation not provided to SSRN

Geoffrey K. Turnbull

Georgia State University - Department of Economics

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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.

Suggested Citation

Ooi, Joseph T. L. and Sirmans, C.F. and Turnbull, Geoffrey K., Government Supply of Land in a Dual Market. Real Estate Economics, Vol. 39, No. 1, pp. 167-184, 2011, Available at SSRN: https://ssrn.com/abstract=1784098 or http://dx.doi.org/10.1111/j.1540-6229.2010.00290.x

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

affiliation not provided to SSRN

No Address Available

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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