China's Housing Market and Prospects for Foreign Investment

Prior to 1978, China's housing sector displayed typical characteristics of the country's planned economy, namely nationalization and resource allocation. Public housing, representing 90% of urban housing, was allocated to workers by the government and work units for minimal rent. The prohibition of public housing sales consequently stunted growth in the housing market.

The Chinese government attempted to reform the housing sector during its modernization drive in 1979 by encouraging construction of commercial housing and permitting sales of public housing.

However, commercial housing has failed to exceed 10% of the housing market due to an insufficient legal framework.
The Chinese government plans to revamp the housing industry in the 21st century, particularly by improving housing conditions. In 1996, the average urban resident lived in an area less than 9m2, and 23.7% of households in Beijing were constricted to confines of 4-6m2. The government intends to have 3.3 billion m2 of housing constructed by the year 2000, expanding the average living space per capita to 18m2.
Considering China's housing reform program and vast urban population, demand for housing in urban areas is expected to grow rapidly. This vast market potential will undoubtedly attract foreign investment. However, China's depressed real estate market should serve as a warning for foreign investors to approach the housing sector prudently with sufficient market research and cost-benefit analyses.

序 言
要 約

[I]硏究目的과 槪要

[II]中國의 住宅制度 改革
1. 改革의 意義와 改革 目標
2. 住宅市場 管理體制의 개혁
3. 住宅制度 개혁의 課題

[Ⅲ]中國의 住宅市場 現況과 住宅産業
1. 住宅市場 현황
2. 住宅産業 현황
3. 주택산업 成長 産業化의 諸 問題

[Ⅳ]主要地域 別 住宅市場 現況
1. 槪況
2. 北京 市 住宅市場 현황
3. 上海 市 住宅市場 현황

[Ⅴ]中國 住宅市場 進出與件과 進出方案
1. 進出與件
2. 進出 時의 留意事項
3. 具體的인 進出方案

[Ⅵ]結 語

參考文獻