Housing in East Asia : socioeconomic and demographic challenges

Housing And Home Ownership Has Been Strongly Embedded In East Asian Socioeconomic And Policy Models. Based On The Primacy Of National Economic Growth Objectives, It Was Promoted As A Means Of, On The One Hand, Contributing Directly To Economic Growth Through The Motor Of The Construction Industry, And, On The Other, Supporting A Low-taxation, Low-public-expenditure Economy With Minimal Social Protection Measures Based On The Support Of The Family. In Recent Years, However, This Housing Pillar Is Facing New Social, Economic, Political And Demographic Challenges, Including A Decline In The Political Authority Of Authoritarian States, The Undermining Of Traditional Developmental Logic, Fragmentation Of Families And Household Types And The Growing Volatility Of Housing Markets. Most Of These Have Been Generated Or Exacerbated By Intensified Globalization And Economic Crises In Recent Years. Through Contextual, Conceptual And Empirically Focused Chapters, Nine Of Which Deal With A Different Country - China, Hong Kong, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan And Thailand - This Book Explores The Development Of Housing Policies And Practices That Have Responded To Dynamic Socioeconomic And Demographic Restructuring. 1. The Changing Shape Of The East Asian Housing Model / Richard Ronald And John Doling -- 2. Urban Housing Policy Changes And Challenges In China / Ya Ping Wang And Lei Shao -- 3. Housing, Crises And Interventions In Hong Kong / Ngai Ming Yip -- 4. Indonesian Housing Development Amidst Socio-economic Transformations / Devisari Tunas And Laksmi Darmoyono -- 5. Housing And The Rise And Fall Of Japan's Social Mainstream / Yosuke Hirayama -- 6. Towards A Housing Policy In Malaysia / Kuppusamy Singaravelloo, Wan Nor Azriyati Wan Abd Aziz, John Doling And Noor Rosly Hanif -- 7. Integrating Economic And Social Policy Through The Singapore Housing System / James Lee -- 8. Housing Transformations And Changing Social Landscapes In South Korea / Hyunjeong Lee -- 9. The Pro-market Housing System And Demographic Change In Taiwan / Yi-ling Chen And Herng-dar Bih -- 10. Housing As A Social Welfare Issue In Thailand / Yap Kioe Sheng. Edited By John Doling, Richard Ronald. Includes Bibliographical References And Index. Housing East Asia: Socioeconomic and Demographic Challenges 4 Contents 6 List of Figures and Tables 9 Preface 13 Notes on Contributors 15 John Doling and Richard Ronald: Introduction 20 The East Asian context 20 Context of this book 21 Structure and content 23 1 Richard Ronald and John Doling: The Changing Shape of the East Asian Housing Model 28 Introduction 28 Housing and the East Asian model 30 The economic context 30 Welfare regimes 33 Housing systems and approaches 35 Housing and the family 39 The seeds of change 43 Economic crises 45 Demographic developments 48 Erosion of the family model 50 Democratization 53 Policy, developmentalism and neoliberalization 55 Conclusion 58 Acknowledgments 59 Notes 59 References 59 2 Ya Ping Wang and Lei Shao: Urban Housing Policy Changes and Challenges in China 63 Introduction 63 Housing reform in the 1980s and the 1990s 65 Social and economic changes since 1998 69 Housing market 1998– 2008 74 Recent changes 81 Challenges in the future 84 Conclusions 85 References 87 3 Ngai Ming Yip: Housing, Crises and Interventions in Hong Kong 90 Introduction 90 Historical context 91 Recent changes 94 Current conditions 97 The future 102 Conclusions 105 References 107 4 Devisari Tunas and Laksmi Darmoyono: Indonesian Housing Development Amidst Socioeconomic Transformation 110 Introduction 110 The Indonesian housing system 111 Public and private housing sectors 111 The public housing sector 111 The private housing sector 113 Housing policies and regulations 114 Housing policies under the old regime: State controlled development 115 Housing policies under the new regime: The coming of the private sector 116 Housing policies under decentralization era: Decentralizing responsibilities 118 Land provision mechanisms 119 Recent housing policies and programmes 120 Social and economic developments 120 The One Million Housing Programme: Housing for all? 123 Socially integrated housing policy: Mixing the rich and the poor? 124 The housing funds through liquidity facility: Getting money from the private sector 125 Emerging social and demographic trends and housing development 126 The rise of the middle class 126 The profile of a young nation: More housings needed 127 Change of lifestyle: High- rise and gardenless city living 128 Conclusion 132 Note 133 References 133 5 Yosuke Hirayama: Housing and the Rise and Fall of Japan’s Social Mainstream 135 Introduction 135 Shaping the post- war housing system 136 Key drivers of change 141 Housing market volatility 141 Labour market reorganization 143 Demographic transformations 144 Reorientation of housing policy 148 Generational fractures 149 The erosion of the housing safety-net 152 Conclusion 155 References 156 6 Wan Nor Azriyati Wan Abd Aziz, Kuppusamy Singaravelloo, John Doling and Noor Rosly Hanif: Towards a Housing Policy in Malaysia 159 Introduction 159 Housing in the early years 161 Housing policy in the 80s and 90s: Consolidating the approach 163 Population trends 163 Housing finance 165 Home ownership and retirement planning 166 Inflation 167 The Asian financial crisis 168 Housing policy in the twenty- first century 169 The Malaysia Plans 170 Extension of the employees provident fund support for housing demand 174 The global economic crisis 176 The National Housing Policy (NHP) 176 Conclusions 178 References 178 7 James Lee: Integrating Economic and Social Policy through the Singapore Housing System 181 Introduction 181 The institutional challenge of blending social and economic objectives 182 The context of housing and policy 182 The Housing Development Board (HDB) and the Central Provident Fund (CPF): Collective provision of individualized welfare 183 Integrating social and economic policy: Creating two circuits of capital 185 Blending individual responsibility and collective welfare 188 Recent developments: Asset- building and income security for old age 190 Regulating housing market and prices 190 Capitalizing the fruits of asset accumulation – the Lease Buyback Scheme 190 Demographical change and its likely impact on asset welfare 191 The possibility of a just housing policy 192 Conclusion – The future of Singapore’s asset- based welfare state 195 Note 197 References 197 8 Hyunjeong Lee: Housing and Socioeconomic Transformations in South Korea 199 Introduction 199 Institutionalization of the state housing system in the industrial era 200 Mass housing provision in the democratic transition era 205 Structural changes and housing policy in the neo- liberal era 208 Housing transformations and changing social landscapes in the late neo-liberal era 212 Housing policy in the late neo-liberal era 213 Changing social landscapes and housing careers 215 Housing policy: What lies ahead? 217 Conclusion 218 Notes 219 References 220 9 Yi-Ling Chen and Herng- Dar Bih: The Pro-market Housing System and Demographic Change in Taiwan 223 Introduction 223 Historical context 224 The laissez-faire housing system from 1949 to the mid- 1970s 224 The era of state promises: The mid-1970s to the mid-1980s 227 Liberalization from the mid-1980s 229 Socioeconomic, political and demographic changes since the 1990s 231 Economic restructuring and social inequality 231 Demographic transformations 233 Recent development 236 Housing affordability crises since 2005 236 The social rental housing movement since 2010 239 Conclusion 241 References 242 10 Yap Kioe Sheng: Housing as a Social Welfare Issue in Thailand 246 Introduction 246 Demographic and socioeconomic trends 247 Middle-income housing 249 Low-income housing 253 Government initiatives after 1997 257 Looking forward 261 Notes 263 References 263 Index 266 Housing policy has been central to the economic success stories of the major East Asian economies as well as a pillar of social and welfare provision. This book explores not only the development of their distinctive approach, but also the challenges posed in recent years, and currently, by rapid socio-economic and demographic change. Housing and home ownership has been strongly embedded in East Asian socioeconomic and policy models. Based on the primacy of national economic growth objectives, it was promoted as a means of, on the one hand, contributing directly to economic growth through the motor of the construction industry, and, on the other, supporting a low-taxation, low-public-expenditure economy with minimal social protection measures based on the support of the family. In recent years, however, this housing pillar is facing new social, economic, political and demographic challenges, including a decline in the political authority of authoritarian states, the undermining of traditional developmental logic, fragmentation of families and household types and the growing volatility of housing markets. Most of these have been generated or exacerbated by intensified globalization and economic crises in recent years. Through contextual, conceptual and empirically focused chapters, nine of which deal with a different country - China, Hong Kong, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan and Thailand - this book explores the development of housing policies and practices that have responded to dynamic socioeconomic and demographic restructuring