中国房地产市场分析: 以中国重要城市为中心

After the reform of the real estate in 1998, the real estate sector played an important role during the rapid growth of the Chinese economy. Currently, the Chinese real estate market is overheated due to massive private investment spikes and speculative factors, and it is expected to have a major impact on the sluggish economy in China. At present, the Chinese economy is in the imbalance of the gap between the rich and the poor, and this imbalance is occurring not only in personal income but also in the urban real estate market. Due to high housing prices and excessive construction, housing overcrowding has occurred in many cities, and the Chinese government is implementing policies to conserve housing inventory to stabilize the real estate market. This uneven development of China's real estate market is closely related to the real estate policies implemented by the central government and domestic and overseas economic conditions. The characteristics of the Chinese real estate market are very unstable in that they are not only high in prices but also highly volatile. Chinese government will need to improve the overheating of the real estate market and the imbalanced development of the region, which are currently faced by appropriate policies. Therefore, this paper outlines the real estate policies of the Chinese government since 1998 and suggests policy implications to cope with the problems of the real estate market facing major cities investigating the influence of GDP, GDP per capita, investment to the real estate market and completed area of the real estate related to real estate price in several main cities.