Leung, M-K and Shing, G T-y (1999) The growing mortgage market in China. Journal of Financial Management of Property and Construction, 4(2), pp. 33-48. ISSN 1366-4387
Abstract
Mortgage finance has been actively promoted in the socialist market economy of China in recent years. Its development has originated from the government's commitment to the commercialisation of the bank and urban housing markets. The results of an empirical survey conducted amongst banks show that the government can facilitate the growth of the property and mortgage market by improving the conveyancing regulations, and by reducing both the various types of taxation applicable and also bureaucratic red-tape. The high price of housing, relative to the low level of household incomes, has posed a major obstacle to the growth of the property and mortgage market. The prospects for the mortgage market in China are, however, viewed as promising because government has promoted the private housing market, via mortgage finance, as a means to expand the economy since the 1997 financial crisis. The mortgage market will experience a more steady growth if incomes in China rise to a level sufficient to increase the home affordability of more households.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | China, housing market, mortgage market, rent |
| Index terms: | regulation, China, affordability, housing, commitment, survey, household, income, markets, taxation, low level, mortgage |
| Subjects: | measurement and scaling, political science, policy economics, data collection methods, demography, Geography, psychology, economic analysis, construction type |
| Topics: | Geographical Context, Regulations & Compliance, Research Practice, Business Strategy, Governance, Construction Technology, Urban Studies, Organizational Design |
| Descriptive scope: | 4 PCEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here