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Are House Prices Rising Too Fast in China? / Ashvin Ahuja, Lillian Cheung, Gaofeng Han, Nathan Porter, Wenlang Zhang.
- Format:
- Book
- Government document
- Author/Creator:
- Ahuja, Ashvin.
- International Monetary Fund, Corporate Author.
- Series:
- IMF Working Papers; Working Paper ; No. 2010/274
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Housing--Prices--China.
- Housing.
- Housing--Finance--China.
- Physical Description:
- 1 online resource (52 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2010.
- Language Note:
- English
- Summary:
- Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of house prices do not seem significantly higher than would be justified by underlying fundamentals. However, there are signs of overvaluation in some cities’ mass-market and luxury segments. Unlike advanced economies before 2007-8, prices have tended to correct frequently in China.Given persistently low real interest rates, lack of alternative investment and mortgage-to-GDP trend, rapid property price growth in China has, and will continue to have,a structural driver.
- Contents:
- Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Salient Features of the Chinese Property Market; III. How do we Assess Price Misalignment? Two Empirical Approaches; A. The panel regression approach; B. The asset pricing approach; IV. Impact on China's Real Economy and Banking Sector from Property Price Changes; A. How will property price changes affect china's domestic demand?; B. How will property price changes affect China's banking sector?; C. How will property price changes affect government revenue?; V. What are the Policy Implications?; VI. Conclusion
- Appendix: Selected Real Estate Measures in ChinaReferences; Footnotes
- Notes:
- "2010."
- Includes bibliographical references.
- Description based on print version record.
- ISBN:
- 9786613878052
- 9781462370863
- 1462370861
- 9781455299270
- 1455299278
- 9781283565608
- 1283565609
- 9781455211579
- 1455211575
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