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Development of China's Real Estate Market

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  • Hung-Gay Fung
  • Jau-Lian Jeng
  • Qingfeng Wilson Liu

Abstract

Over the past two decades, real estate has evolved from government-controlled to a commercial product, emerging and developing into an important component of China's financial markets. Although the overall gross domestic product (GDP) and income levels have been growing rapidly, the even-faster rising housing costs have exacerbated the problem of housing affordability. Real estate development has become a key factor in China's economic growth, as real estate has become an essential part of the overall functioning of the economy. Recent signs following the global financial crisis suggest that China's real estate market has bottomed and may be on its way to a rebound. In the long run, this market offers lucrative investment opportunities for domestic and foreign investors.

Suggested Citation

  • Hung-Gay Fung & Jau-Lian Jeng & Qingfeng Wilson Liu, 2010. "Development of China's Real Estate Market," Chinese Economy, Taylor & Francis Journals, vol. 43(1), pages 71-92, January.
    • Handle: RePEc:mes:chinec:v:43:y:2010:i:1:p:71-92
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    Cited by:

    1. Hassan Fereidouni Gholipour & Usama Al-mulali & Abdul Hakim Mohammed, 2014. "Foreign investments in real estate, economic growth and property prices: evidence from OECD countries," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 17(1), pages 33-45, March.
    2. Su, Chi-Wei & Wang, Xiao-Qing & Tao, Ran & Chang, Hsu-Ling, 2019. "Does money supply drive housing prices in China?," International Review of Economics & Finance, Elsevier, vol. 60(C), pages 85-94.

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