Chapter
Aug 14, 2017
International Conference on Construction and Real Estate Management 2016
Real Estate Bubble Test Based on the West Model and Causality Analysis
Publication: ICCREM 2016: BIM Application and Off-Site Construction
ABSTRACT
China has entered a new period of high economic development. The housing demand has been increasing with the process of urbanization speeding up. The purpose of this paper is to examine whether there is bubble in the real estate market of China. This paper briefly reviewed the research of real estate bubble. Then set an empirical analysis of the real estate markets of the top three first-tier cities in China, Beijing, Shanghai, and Shenzhen by WEST model. The paper finds that there is a bubble phenomenon in the office markets in Beijing and Shenzhen, the housing market in Shanghai and Shenzhen. While there isn’t strong evidence that real estate market bubble phenomenon exists or not in the housing market in Beijing, office market in Shanghaiing. Then, we pointed the deficiency of the existing policy and put forward some suggestions.
Get full access to this chapter
View all available purchase options and get full access to this chapter.
REFERENCES
Kim, K.H. (1993). “Technical review.” Computers and the Humanities, (27), 1.
Li, G.Z. (2010). “Based on the analysis of the real estate market bubble analysis method study.” Economic Research Guide, (81), 137–139. (in Chinese).
Song, W.Y., Wang, X.G. and Qin, X.Z. (2008). “The real estate market herding behavior research: In Beijing market”, Building Economy, (S2), 1–5. (in Chinese).
West, K.D. (1987). “Specification test for speculative bubbles”. Quarterly Journal of Economics, 102, 580–663.
Yi, X.W. (2008). The Mechanism of Action of Our Country Housing Price Fluctuations and Welfare Effect Research. Xiamen University, Fujian, China, 55–59. (in Chinese).
Information & Authors
Information
Published In
ICCREM 2016: BIM Application and Off-Site Construction
Pages: 963 - 969
Editors: Yaowu Wang, Ph.D., Professor, Harbin Institute of Technology, Mohamed Al-Hussein, Ph.D., Professor, University of Alberta, Geoffrey Q. P. Shen, Ph.D., Professor, The Hong Kong Polytechnic University, and Yimin Zhu, Ph.D., Professor, Louisiana State University
ISBN (Online): 978-0-7844-8027-4
Copyright
© 2017 American Society of Civil Engineers.
History
Published online: Aug 14, 2017
Permissions
Request permissions for this article.
Authors
Affiliations
Postgraduate, Dept. of Applied Economics, Harbin Institute of Technology, Harbin, China, 150001. E-mail: [email protected]
Associate Professor, Dept. of Applied Economics, Harbin Institute of Technology, Harbin, China, 150001. E-mail: [email protected]
Metrics & Citations
Metrics
Citations
Download citation
If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. Simply select your manager software from the list below and click Download.
View Options
Get Access
Access content
Please select your options to get access
Log in/Register
Log in via your institution (Shibboleth)
ASCE Members:
Please log in to see member pricing
Purchase
Save for later Item saved, go to cart Information on ASCE Library Cards
ASCE Library Cards let you download journal articles, proceedings papers, and available book chapters across the entire ASCE Library platform. ASCE Library Cards remain active for 24 months or until all downloads are used. Note: This content will be debited as one download at time of checkout.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Get Access
Access content
Please select your options to get access
Log in/Register
Log in via your institution (Shibboleth)
ASCE Members:
Please log in to see member pricing
Purchase
Save for later Item saved, go to cart Information on ASCE Library Cards
ASCE Library Cards let you download journal articles, proceedings papers, and available book chapters across the entire ASCE Library platform. ASCE Library Cards remain active for 24 months or until all downloads are used. Note: This content will be debited as one download at time of checkout.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.