Development of China's Real Estate Market

Hung-Gay Fung, Jau-Lian Jeng and Qingfeng "Wilson" Liu

Chinese Economy, 2010, vol. 43, issue 1, 71-92

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.

Date: 2010
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