What is Unique about Chinese Real Estate Markets?

Abstract

The political environment, legal system, and culture of China differ from that of most mature economies in the western world. Consequently, Chinese real estate markets should behave differently from the markets of the mature economies such as the United States and the United Kingdom. The rapid growth of the real estate markets (both in quantity and property appreciation rates) in Chinese communities during the past two decades provides us a great laboratory to examine some important issues that cannot be analyzed using data from mature economies.