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China's Real Estate Market

Author

Listed:
  • Chang Liu
  • Wei Xiong

Abstract

Since the 1990s, China's real estate market has experienced a dramatic and long-lasting boom across China. This boom has led to substantial concerns in both academic and policy circles that the rising housing prices might have developed into a gigantic housing bubble, which might eventually burst and damage China’s financial system and economy. Motivated by this concern, this paper reviews the historical development of China’s real estate market, describes the real estate boom, and discusses its links to households, local governments, firms and the financial system.

Suggested Citation

  • Chang Liu & Wei Xiong, 2018. "China's Real Estate Market," NBER Working Papers 25297, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:25297
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    References listed on IDEAS

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    Cited by:

    1. Wang, Xiaodan & Li, Keyang & Wu, Jing, 2020. "House price index based on online listing information: The case of China," Journal of Housing Economics, Elsevier, vol. 50(C).
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    3. Minetti, Raoul & Peng, Tao & Jiang, Tao, 2019. "Keeping up with the Zhangs and house price dynamics in China," Journal of Economic Dynamics and Control, Elsevier, vol. 109(C).
    4. Liu, Ding & Sun, Weihong & Xu, Liao & Zhang, Xuan, 2023. "Time-frequency relationship between economic policy uncertainty and financial cycle in China: Evidence from wavelet analysis," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).

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    More about this item

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R28 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Government Policy
    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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