Hui, C M; Chiang, Y H and Tang, B S (1997) Asian real estate markets: Boom and oversupply? Journal of Financial Management of Property and Construction, 2(3), pp. 63-76. ISSN 1366-4387
Abstract
Frenzied building in the capitals of Asia has long been one of the most visible symbols of the region's spectacular economic boom. But now that the pace of growth has faltered, the sprouting skyscrapers seem a symptom less of success than of pain to come (the Economist, 1997). This research paper addresses the over-building and vacancy problems facing the real estate markets in Asia in recent years. It starts by reviewing the real estate markets of some fast-growing Asian economies, amid global economic and financial changes. This is followed by a theoretical framework within which to investigate the factors underlying the over-supply of properties in the region- namely, the interaction between the dynamism of real estate investment, internationalisation of capital financing and state policy initiatives. These Asian factors are then examined in contrast to western economies. The concluding part draws out research implications for the development of Asian real estate markets.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Asian capitals, oversupply of properties, global economic and financial changes, internationalisation, capital financing and state policy initiatives |
| Index terms: | pain, skyscraper, internationalization, real estate, interaction, markets, research paper, real estate investment, Asia, vacancy, financing |
| Subjects: | behavioral psychology, economic analysis, construction type, research dissemination and communication, health conditions and diseases, real estate economics, regions and continents |
| Topics: | Construction Technology, Business Strategy, Research Practice, Information Management, Urban Studies, International Construction, Procurement, Health and Safety, Geographical Context |
| Descriptive scope: | 2 PC |
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