A study on the evolution of urban housing market in China : a case study of Guangzhou

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A study on the evolution of urban housing market in China : a case study of Guangzhou

 

Author: Hung, Bo-lin Judy
Title: A study on the evolution of urban housing market in China : a case study of Guangzhou
Degree: M.Sc.
Year: 1999
Subject: Housing -- China -- Guangzhou
Housing policy -- China -- Guangzhou
Hong Kong Polytechnic University -- Dissertations
Department: Multi-disciplinary Studies
Dept. of Business Studies
Pages: xi, 100, [53] leaves : ill. ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1484302
URI: http://theses.lib.polyu.edu.hk/handle/200/2803
Abstract: China started its Housing Reform in 1978 as another steps towards its economic growth. Since then an increasing numbers of investors have been attracted to property development in China. Although there are many researches on the topic of urban housing development in China, most of them have focused only on the significance of policy changes. This study, therefore, attempts to complement previous studies by providing an update picture on urban housing demand, supply and structural framework. This study is written for those readers unfamiliar with the development of urban housing market and its related reform policies in China. Throughout the study Guangzhou would be taken as an example. The reasons for this is because Guangzhou have tremendously developed in its property market and is often considered to be one steps ahead of China in economic reform and development because of its proximity to Hong Kong. The research aims to identify the successes, failures and difficulties in each phase of urban housing reform in relations to the changes from the supply, demand and distribution of urban housing in China from 1979 to 1998. Furthermore, the research will evaluate whether the objective of establishing a commercial residential housing market is sustainable in China. The research ends with an overview on the success and difficulties of commercial residential housing market in Guangzhou. Overall speaking, given the legislative framework in property development, the urban housing market in Guangzhou is still non-sustainable to a great extend. It was because majorities of workers are employed by state-owned enterprises in which they are given low wage level and in return they enjoy low rental payment. Even with the intention to replace in-kind benefits with monetary subsidy, however, the shortcoming of financial tools in China has hindered the development of a highly commercialized property similar to Hong Kong.

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