Research on Chinese Real Estate Development and the Future Trends

Research on Chinese Real Estate Development and the Future Trends

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Research on Chinese Real Estate Development and the Future Trends Liu, Zilei; Chen, Li. Asian Social Science7. 9 (Sep 2011): 207-211. Turn on hit highlighting for speaking browsers Abstract (summary) Translate Abstract After nearly 20 years' development, Chinese real estate industry shows the evidence of increasing both in scale and price. But resent years, China citizens began to complain more about the high price of housing, and government also pays more attention to the real estate industry. This article first analyzes the Chinese real estate development in recent years, and then based on the life cycle theory, the paper discusses Chinese real estate's stage in the life cycle as well as the problems in this stage, at the end of the paper, the future trends of Chinese real estate are predicted. [PUBLICATION ABSTRACT] Full Text Translate Full text Headnote Abstract After nearly 20 years' development, Chinese real estate industry shows the evidence of increasing both in scale and price. But resent years, China citizens began to complain more about the high price of housing, and government also pays more attention to the real estate industry. This article first analyzes the Chinese real estate development in recent years, and then based on the life cycle theory, the paper discusses Chinese real estate's stage in the life cycle as well as the problems in this stage, at the end of the paper, the future trends of Chinese real estate are predicted. Keywords: China, Real estate, Life cycle, Trend 1. Introduction Real estate industry includes the investment, development, operation, management, and service in the real estate and belong to the 3rd industry. Usually, real estate industry in China is looked as a basic, guiding, driving and risking industry. As a very fundamental industry, real estate industry plays a very important role not only in a country's economic life but also in people's daily life, thus attract many research interests. Kaklauskas (2011) gives comparative description of crisis management for real estate in developed countries, and makes general recommendations for improving crisis management efficiencies in these countries' real estate sector, also tries to give multiple criteria analysis of crisis management components and selection of the most efficient life cycle version of crisis management in real estate. Wang (2011) points out that China's major cities have experienced significant real estate price increase which has been fueled by the sustained growth of the economic fundamentals, the author examined the linkage between urban economic openness, the ratio of trade volume as a percentage of GDP, and urban real estate
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prices basing on the quality of life theory as well as Balassa-Samuelson (B-S) effects. Liow and Webb (2009) investigate the presence of common factors in the securitized real estate markets of the United States (US), United Kingdom (UK), Hong Kong (HK), and Singapore (SG). The authors found that the degree of linkage across the four securitized real estate markets is much
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This note was uploaded on 03/06/2012 for the course MCOM 320 taught by Professor Kawai during the Winter '11 term at BYU.

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Research on Chinese Real Estate Development and the Future Trends

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