Evaluation of house rent prices and their affordability in Port Moresby, Papua New Guinea

Buildings

Volumn 7, Issue 4, 2017, Pages

  Ezebilo, Eugene E ^a  

^a National Research Institute   (Papua New Guinea)

Author keywords

House rent price; Housing affordability; Housing policy; Location; Urban development

Indexed keywords

EID: 85036574052     PISSN: None     EISSN: 20755309     Source Type: Journal    
DOI: 10.3390/buildings7040114     Document Type: Article

References (48)

1. Bajari, P.; Kahn, M.E. Estimating housing demand with an application to explaining racial segregation in cities. J. Bus. Econ. Stat. 2005, 23, 20-33
2. Yang, Z.; Yi, C.; Zhang, W.; Zhang, C. Affordability of housing and accessibility public services: Evaluation of housing programs in Beijing. J. Hous. Built Environ. 2014, 29, 521-540
3. Chen, J.; Hao, Q.; Stephens, M. Assessing housing affordability in post-reform China: A case study of Shanghai. Hous. Stud. 2010, 25, 877-901
4. Haffner, M.E.A.; Boumeester, H.J.F.M. The affordability of housing in the Netherlands: An increasing income gap between renting and owning? Hous. Stud. 2010, 25, 799-820
5. Makinde, O.O. Housing delivery system, need and demand. Environ. Dev. Sustain. 2014, 16, 49-69
6. Bramley, G. Affordability, poverty and housing need: Triangulating measures and standards. J. Hous. Built Environ. 2012, 27, 133-151
7. Crook, A.D.H.; Monk, S.; Rowley, S.; Whitehead, C.M.E. Planning gain and the supply of new affordable housing in England: Understanding the numbers. Town Plan. Rev. 2006, 77, 353-373
8. Gurran, N.; Phibbs, P. Housing supply and urban planning reform: The recent Australian experience, 2003-2012. Int. J. Hous. Policy 2013, 13, 381-407
9. Kutty, N.K. A new measure of housing affordability: Estimates and analytical results. Hous. Policy Debate 2005, 16, 113-142
10. Can, A. The measurement of neighbourhood dynamics in urban house prices. Econ. Geogr. 1990, 66, 254-272
11. Kearney, A.R. Residential development patterns and neighbourhood satisfaction: Impacts of density and nearby nature. Environ. Behav. 2006, 38, 112-139
12. Gravelle, H.; Rees, R. Microeconomics; Pearson Education: Harlow, UK, 2004
13. Anglin, P.M.; Rutherford, R.; Springer, T.M. The trade-offbetween selling price of residential properties and time-on-the market: The impact of price setting. J. Real Estate Financ. Econ. 2003, 26, 95-111
14. Hashim, Z.A. House price and affordability in housing in Malaysia. Akademika 2010, 78, 37-46
15. Mulliner, E.; Smallbone, K.; Maliene, V. An assessment of sustainable housing affordability using a multiple criteria decision making method. Omega 2013, 41, 270-279
16. Kamal, E.M.; Hassan, H.; Osmadi, A. Factors influencing the housing price: Developers' perspective. Int. J. Soc. Behav. Educ. Econ. Bus. Ind. Eng. 2016, 10, 1594-1600
17. Haffner, M.; Heylen, K. User costs and housing expenses. Towards a more comprehensive approach to affordability. Hous. Stud. 2011, 26, 593-614
18. Nubi, O.T. Affordable housing delivery in Nigeria. In Proceedings of the South African Foundation International Conference and Exhibition, Cape Town, South Africa, 12-15 October 2008; pp. 1-8
19. Glaeser, E.L.; Gyourko, J.; Saks, R. Why is Manhattan so expensive? Regulation and the rise in house prices. J. Law Econ. 2005, 48, 331-369
20. Tse, R.Y.C. Estimating neighbourhood effects in house prices: Towards a new hedonic model approach. Urban Stud. 2002, 39, 1165-1180
21. Agnello, L.; Schuknecht, L. Booms and busts in housing markets: Determinants and implications. J. Hous. Econ. 2011, 20, 171-190
22. Hwang, M.; Quigley, J. Economic fundamentals in local housing markets: Evidence from US metropolitan regions. J. Reg. Sci. 2006, 46, 425-453
23. Ceron, J.A.; Suarez, J. Hot and Cold Housing Markets: International Evidence; Centre for Economic Policy Research Discussion Paper 2006, No. 5411; Centre for Economic Policy Research: London, UK, 2006
24. Zietz, J.; Zietz, E.N.; Sirmans, G.S. Determinants of house price: A quantile regression approach. J. Real Estate Financ. Econ. 2008, 37, 317-333
25. Adams, Z.; Fuss, R. Macroeconomic determinants of international housing markets. J. Hous. Econ. 2010, 19, 38-50
26. Jud, D.;Winkler, D. The dynamics of metropolitan housing prices. J. Real Estate Res. 2002, 23, 29-45
27. Salim, S. Determinants of house prices in Turkey: A hedonic regression model. Dogus Univ. Derg. 2008, 9, 65-76
28. Balazs, E.; Dubravko, M. Determinants of house prices in Central and Eastern Europe. Comp. Econ. Stud. 2007, 49, 367-388
29. Gerdesmeter, D.; Reimers, H.E.; Roffia, B. Asset Price Misalignments and the Role of Money and Credit; European Central Bank Working Paper No. 1068; European Central Bank: Frankfurt, Germany, 2009
30. ICCC (Independent Consumer, and Competition Commission). Final Report of Independent Consumer, and Competition Commission on PNG Housing, and Real Estate Industry Review; Independent Consumer, and Competition Commission: Port Moresby, Papua New Guinea, 2012
31. Chand, S.; Yala, C. Institution for improving access to land for settler-housing: Evidence from Papua New Guinea. Land Use Policy 2012, 29, 143-153
32. Global Cities Research Institute. Port Moresby-Papua New Guinea. Available online: http://global-cities. info/placemarks/port-moresby-papua-new-guinea (accessed on 15 July 2017)
33. Papua New Guinea National Statistical Office. Results of 2011 National Census; National Statistical Office: Port Moresby, Papua New Guinea, 2015
34. NEC (National Executive Council). NEC Decision No: 33/2016; Port Moresby National Executive Council: Port Moresby, Papua New Guinea, 2016
35. Yala, C. Study Tour of Land Development in the Australian Capital Territory: Lessons and Policy Options for the National Land Development Programs; The National Research Institute, Special Publication No. 63; National Research Institute: Port Moresby, Papua New Guinea, 2010
36. Ezebilo, E.; Hamago, L. Prospects and Challenges in Private Sector Provision of Housing in Papua New Guinea: Lessons from Edai Town Development; National Research Institute Discussion Paper: Port Moresby, Papua New Guinea, 2017; in press
37. Webster, T.; Chand, S.; Kutan, L. Property and Housing Policy Development; National Research Institute Discussion Paper No. 149; National Research Institute: Port Moresby, Papua New Guinea, 2016
38. Endekra, B.; Kwapena, F.; Yala, C. Understanding Property Movements in Port Moresby: Lessons from a Price Tracking Experiment; National Research Institute Issues Paper: Port Moresby, Papua New Guinea, 2015
39. Verbeek, M. A Guide to Modern Econometrics; John Wiley and Sons: Chichester, UK, 2007
40. Greene, W.H. Econometric Analysis, 5th ed.; Prentice Hall: Upper Saddle River, NJ, USA, 2003
41. Econometric Software Inc. NLOGIT Version 4.0; Econometric Software Inc.: New York, NY, USA, 2007
42. Chatterjee, S.; Hadi, A.S. Regression Analysis by Example; Wiley: New York, NY, USA, 1991
43. Wangi, T.; Howes, S. Public Sector Pay Scales in PNG: Are Academics Underpaid? Development Policy Centre Discussion Paper No. 35; The Australian National University: Canberra, Australia, 2014
44. Leung, C.; Sarpca, S.; Yilmaz, K. Public housing units vs. housing vouchers: Accessibility, local public goods, and welfare. J. Hous. Econ. 2012, 21, 310-321
45. Hanushek, E.; Yilmaz, K. Schools and location: Tiebout, Alonso and government Policy. J. Public Econ. Theory 2013, 15, 829-855
46. Nao, L.; Ezebilo, E. Trunk Infrastructure Must be Developed before Building Houses in Papua New Guinea: Lessons from Duran Farm; National Research Institute Spotlight: Port Moresby, Papua New Guinea, 2017; Volume 10
47. Ezebilo, E.E. Evaluation of Affordable Housing Program in Papua New Guinea: A case of Port Moresby. Buildings 2017, 7, 73
48. Wangi, T.; Ezebilo, E. Accessibility of Customary Land for Property Development in Papua New Guinea: Challenges and Prospects; National Research Institute: Port Moresby, Papua New Guinea, 2017