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A Survey Analysis: The Current Real Estate Marketing Situation in the China Greater Bay Area in the Context of the COVID-19 Epidemic

Author

Listed:
  • Kong Juan

    (Universiti Sains Malaysia, 11800 Gelugor, Penang, Malaysia)

  • Kepili Ema Izati Binti Zull

    (Universiti Sains Malaysia, 11800 Gelugor, Penang, Malaysia)

Abstract

Real estate in the Guangdong-Hong Kong-Macao Greater Bay Area (also known as the Greater Bay Area, GBA) - a good representation of China’s advanced and developed urban agglomeration - has received considerable attention from the international community in recent years. However, the real estate market has been under extraordinary stress due to the expansion of COVID-19 in China, the strain on people’s livelihoods brought on by the coronavirus pandemic, and the Chinese government’s series of epidemic preventive initiatives. This study used a combination of qualitative and quantitative techniques, making use of interviews and questionnaires as instruments. It examined China’s GBA real estate market as the pandemic looms. The primary goals are to demonstrate the current state of the GBA’s real estate industry, pinpoint the factors holding back its growth, and estimate when the market might finally experience a breakthrough. Our findings suggested that the impact of COVID-19 on the GBA real estate sector in China is evident, but that it still has a bright future despite the negative externalities. This is because the city has a large population, high purchasing power, and is close to some of the most developed areas in southern China. This study establishes a baseline for studying the impact of China’s “One Belt, One Road” initiative on the GBA real estate market in the future. It also provides valuable resources for China’s GBA’s real estate industry.

Suggested Citation

  • Kong Juan & Kepili Ema Izati Binti Zull, 2023. "A Survey Analysis: The Current Real Estate Marketing Situation in the China Greater Bay Area in the Context of the COVID-19 Epidemic," Real Estate Management and Valuation, Sciendo, vol. 31(3), pages 1-19, September.
    • Handle: RePEc:vrs:remava:v:31:y:2023:i:3:p:1-19:n:7
    DOI: 10.2478/remav-2023-0017
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    References listed on IDEAS

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    1. Chang, Zheng & Diao, Mi & Jing, Kecen & Li, Weifeng, 2021. "High-speed rail and industrial movement: Evidence from China's Greater Bay Area," Transport Policy, Elsevier, vol. 112(C), pages 22-31.
    2. Rahmiye Figen Ceylan & Burhan Ozkan & Esra Mulazimogullari, 2020. "Historical evidence for economic effects of COVID-19," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 21(6), pages 817-823, August.
    3. Rob Eisinga & Manfred Grotenhuis & Ben Pelzer, 2013. "The reliability of a two-item scale: Pearson, Cronbach, or Spearman-Brown?," International Journal of Public Health, Springer;Swiss School of Public Health (SSPH+), vol. 58(4), pages 637-642, August.
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    More about this item

    Keywords

    real estate market; greater bay area economic; COVID-19;
    All these keywords.

    JEL classification:

    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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