Multiple home ownership during market transition in China: longitudinal analysis of institutional factors

Abstract

Housing reform in China has changed its housing market as the rate of multiple home ownership has increased, causing concerns about housing inequality. Existing studies analysed the influence of institutional and market factors on multiple home ownership, but few examined the changes in institutional factors. The present study aimed to address this research gap and found that households with local hukou, better occupational status or working in units of the party, government or state institutions are more likely to own multiple homes. Furthermore, the study investigated the impacts of institutional factors on multiple home ownership. Changing influences of institutional factors due to progressive reform were noted. Market reform reduced the influence of household registration and work units, whereas the effect of occupational status persists owing to incomplete reform. Progressive reform can lead to asymmetric changes in the role of institutional factors, supporting the coexistence of competing market transition theory and power persistence theory. Policy recommendations and implications are provided finally.