This paper provides a framework for analysing the implicit rents structure of different housing attributes, using a supply-of-characteristics approach. It first reviews the housing rents and rent-to-income ratios between the private and public sectors over the past thirty years or so. It then focuses on the trends and patterns of domestic rents of public housing units over the same period. Within the framework, the rents structure model uses the technique of multiple regression to illustrate the implicit rents for different housing attributes. The concluding part gives suggestions for policy change.
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