Housing Demand in Tokyo

Authors: Piyush Tiwari

Start Page: 65
End Page: 92
Volume: 3
Issue Number: 1
Year: 2000
Publication: International Real Estate Review

Abstract: This paper analyzes the demand for housing in Tokyo using a discrete choice model. Three dimensions of choice, tenure, dwelling size (as number of rooms) and structure type (as type of unit) determine demand for housing which are modeled simultaneously. The income elasticity of market share of ownership house is positive and ranges between 0.16 to 0.34. However, income elasticity for rental houses is negative ranging between -0.17 to -0.57. The own price elasticities vary over a large range from -0.03 to -5.1 with smaller in magnitude for ownership houses and larger for rental houses.

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