Evaluating the Risk of Chinese Housing Markets : What We Know and What We Need to Know

Jing Wu, Joseph Gyourko, Yongheng Deng

(1)Real house price growth has been high, averaging 10% per annum since 2004. However, there is substantial heterogeneity across markets, ranging from 3% (Jinan) to 20% (Beijing). House price growth is driven by rising land values, not by construction costs. Real land values have risen by over 15% per annum on average. In Beijing, the increase has been by a remarkable 27.5% per year (or by 1,036%) since 2004

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Year of publication:	July 2015
Authors:	Wu, Jing
Other Persons:	Gyourko, Joseph (contributor) ; Deng, Yongheng (contributor)
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	China \| Immobilienpreis \| Real estate price \| Immobilienmarkt \| Real estate market \| Messung \| Measurement \| Wohnimmobilien \| Residential real estate

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