W h a t i s U n i q u e a b o u t C h i n e s e R e a l E s t a t e M a r k e t s ?
A b s t r a c t The political environment, legal system, and culture of China
differ from that of most mature economies in the western world.
Consequently, Chinese real estate markets should behave
differently from the markets of the mature economies such as
the United States and the United Kingdom. The rapid growth
of the real estate markets (both in quantity and property
appreciation rates) in Chinese communities during the past two
decades provides us a great laboratory to examine some
important issues that cannot be analyzed using data from mature