The Development Tendency of the Real Estate Industry under China’s Economic “New Normal”

Yeqiang Wang ()
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Yeqiang Wang: Institute for Urban and Environmental Studies, Chinese Academy of Social Sciences, MCC Tower, 28 Shuguangxili, Chaoyang District, Beijing 100028, China

Chinese Journal of Urban and Environmental Studies (CJUES), 2016, vol. 04, issue 01, 1-12

Abstract: Under the economic “new normal”, the real estate industry experiences a transition from seller’s market to buyer’s market; the construction of indemnificatory housing becomes the main approach of macroeconomic control; the source of real estate funds turns from single credit to diverse financing; the mechanism of macro control gradually becomes market-oriented and the development mode gradually turns pluralistic. At the same time, the real estate industry is facing challenges from local debt crisis, tax reformation, online businesses and transformation of production mode. However, this paper proposes that there’s no fundamental alternation in the basic aspects of macroeconomy that supports China’s real estate development, and the “new normal” of China’s real estate market should be led by reformation and innovation.

Keywords: Economic “new normal”; real estate industry; local debt crisis; tax reformation (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1142/S2345748116500032

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