Tightened real estate policies in Beijing more effective than loose ones.
The article analyzes real estate regulation policies in Beijing from 2008 to 2017. It categorizes the policies, tests their effectiveness using a model, and finds that stricter policies are more likely to work than lenient ones. Purchase-type policies are most effective, followed by payment-type policies, with interest-rate policies being the least effective. The success of these policies is not linked to housing prices or volume. The study offers insights into the effects of different real estate regulations and suggests improvements for future policies.