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Housing Development and Urbanisation in China

Author

Listed:
  • Shujie Yao
  • Dan Luo
  • Jianling Wang

Abstract

type="main" xml:id="twec12105-abs-0001"> Rapid urbanisation and rising income have led to a strong demand for housing in urban China. However, housing development has been distorted by speculation, income inequality and lack of government support for low-cost houses. In recent years, house prices become so high, making the vast majority of urban residents unable to afford, whereas rich families are able to buy many and leave them vacant. Income inequality is a major cause for rising house prices, which, in turn, exaggerates income inequality further. This vicious relationship has caused social tension between the rich and the poor and unhappiness among the middle- and low-income groups. This paper discusses the factors responsible for the housing bubble in China and recommends appropriate policies to resolve this problem.

Suggested Citation

  • Shujie Yao & Dan Luo & Jianling Wang, 2014. "Housing Development and Urbanisation in China," The World Economy, Wiley Blackwell, vol. 37(3), pages 481-500, March.
    • Handle: RePEc:bla:worlde:v:37:y:2014:i:3:p:481-500
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    File URL: http://hdl.handle.net/10.1111/twec.2014.37.issue-3
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    Cited by:

    1. Xuecun Zhao & Yanrong Liu, 2022. "Effects of housing demolition on labor supply: Evidence from China," Review of Development Economics, Wiley Blackwell, vol. 26(3), pages 1663-1692, August.
    2. Dezhi Li & Yanchao Chen & Hongxia Chen & Eddie Chi Man Hui & Kai Guo, 2016. "Evaluation and Optimization of the Financial Sustainability of Public Rental Housing Projects: A Case Study in Nanjing, China," Sustainability, MDPI, vol. 8(4), pages 1-13, April.
    3. Chi-Wei Su & Xiao-Cui Yin & Hsu-Ling Chang & Hai-Gang Zhou, 2019. "Are the stock and real estate markets integrated in China?," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(4), pages 741-760, December.
    4. Li, Feng & Xiao, Jing Jian, 2020. "Losing the future: Household wealth from urban housing demolition and children's human capital in China," China Economic Review, Elsevier, vol. 63(C).
    5. Evan Osborne, 2016. "China’s transitioning class identity," China Finance and Economic Review, Springer, vol. 4(1), pages 1-15, December.
    6. Zhen Wang & Mingzhi Hu & Yu Zhang & Zhuo Chen, 2022. "Housing Security and Settlement Intentions of Migrants in Urban China," IJERPH, MDPI, vol. 19(16), pages 1-16, August.
    7. Xunzhi Yin & Qi Dong & Siyuan Zhou & Jiaqi Yu & Lu Huang & Cheng Sun, 2020. "Energy-Saving Potential of Applying Prefabricated Straw Bale Construction (PSBC) in Domestic Buildings in Northern China," Sustainability, MDPI, vol. 12(8), pages 1-18, April.
    8. Bryan, Brett A. & Ye, Yanqiong & Zhang, Jia'en & Connor, Jeffery D., 2018. "Land-use change impacts on ecosystem services value: Incorporating the scarcity effects of supply and demand dynamics," Ecosystem Services, Elsevier, vol. 32(PA), pages 144-157.

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