Enter your email address below to receive our free bimonthly newsletter
Did we make a difference?
The Foundation for Law, Justice and Society (FLJS) is an independent not-for-profit institution that aims to promote an understanding of the role of law in society. We identify and analyse issues of contemporary interest and importance, disseminating the insights of decision-makers and experts to a global audience through our extensive online resource of free-to-download Policy Briefings, Opinion Pieces, and multimedia podcasts.
We want to keep our content free at the point of use to all. If you value our work and are able to support it, please make a contribution to enable us to fulfil our educational aims into the future.
Recent Policy Changes in China’s Real Estate Sector
Author:
Lou Jianbo
Publication date:
Thu, 30 Aug 2007
Publication:
The reform of the urban housing system, begun in the late 1980s, has resulted in a general improvement in accommodation for most of the urban population in China. In less than twenty years, the government managed to provide new and reasonable quality owner-occupied housing to as much as 80 per cent of the urban population. This achievement was made possible by the transition to a market economy and the rapid economic growth that followed.
However, unlike real estate markets in most Western countries, China’s was established and fostered by the government, which views it as a tool for the implementation of its housing policy. When the government feels the need to provide more housing to low- and medium-income urban families, it intervenes in the market without hesitation.
This policy brief investigates the recent changes in housing policy, the reasons for them, their effectiveness, and the implications for the future development of the real estate market. It provides a brief summary of the three-tier structure of the urban real estate market, assesses the major issues affecting the housing market, and explores the recent responses to these problems, including restrictions on foreign investors.
