Economic propserity China residential

China's Impact of Improved Economic Prosperity on the Residential Real Estate Sector in China

The economy of China has grown rapidly in recent years. The increased prosperity has brought higher personal income and an increased standard of living to many Chinese residents. It is widely believed that China’s entry to the World Trade Organization will further foster economic growth. One potential indicator of the increase in a standard of living is the market for residential property. The housing market in China has traditionally been very different from the market in economically developed countries. Housing has been provided by work units or government organizations at a nominal cost, with the result that it has not been considered a marketable commodity…..