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ON THE FACTORS OF DEVELOPMENT OF REAL ESTATE MARKET IN THE PEOPLE’S REPUBLIC OF CHINA



Zeng Chao
zengchao@yandex.ru
a postgraduate student, Saint-Petersburg State University of Architecture and Civil Engineering
St. Petersburg

Keywords:

  • residential real estate market
  • development factors
  • housing policy in China
  • the People’s Republic of China
  • Present-day China is facing one of the most crucial socio-economic challenges, that is a housing problem which resulted from the lack of affordable housing with the population size constantly increasing. The development of residential real estate market in China should contribute to the solution of the problem. However, this market is under the influence of various factors that need to be taken into account. In this regard, classifying real estate market development factors appears to be quite an urgent issue. The article has consistently examined five groups of factors that have impact on real estate market in China: political and legal, economic, social, natural and geographic, scientific and technical.
    The following research methods were used in the course of the study: a study of various sources of information; method of abstraction; analysis and synthesis; method of classification.
    The research has resulted in generalization of the main groups of factors that affect the development of residential real estate market in PRC, with the essence of each factor being revealed, and the analysis of their impact in the context of solving the given problem using the example of China being completed.
    The research results obtained by the author, were also presented in the form of diagrams and corresponding tables.

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