2016 Fiscal Year Final Research Report
Restructuring of the policy to promote the real estate markets
| Project/Area Number |
25285083
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Partial Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Economic policy
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| Research Institution | Nihon University |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
瀬下 博之 専修大学, 商学部, 教授 (20265937)
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| Project Period (FY) |
2013-04-01 – 2017-03-31
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| Keywords | 既存住宅 / 情報の非対称性 / MLS / 仲介人 / サーチ |
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| Outline of Final Research Achievements |
The Japanese government is quickly advancing initiatives aimed at invigorating Japan's existing home market. It is using subsidies, tax breaks, and financial measures to support the development of housing with long useful lives, based on the Act Concerning the Promotion of Long-Life Quality Housing. But our research implies that simply promoting the supply of high-quality housing is not sufficient for creating the “win-win” conditions under which all players would benefit. On the other hand, invigoration of the existing home market, which would lead to formation of a flexible real estate market, would be self-fulfilling. It would, in other words, give rise to a highly price-elastic consumer response, lead to increases in housing prices, housing assets, and housing investment, and, therefore, increase the incentives for players to change their behavior and strategies in ways that invigorate the existing home market.
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| Free Research Field |
経済政策
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