An Empirical Study of the Development Features of the Heilongjiang Real Estate Industry Based on the Cycle Theory of Real Estate Industry

摘要

This paper discusses the development rule of the Heilongjiang real estate in terms of the growth rates of value-added of real estate industry, floor space of commercialized buildings sold and amount of real estate investment and finds that Heilongjiang real estate industry has experienced two typical cyclical undulations since 1991. It is considered that Heilongjiang real estate cycle is a policy cycle, which springs mainly from the real estate system reform, the central authorities' land and the financial control, the tax distribution system reform, the policy of real estate industry and Heilongjiang macro-economy.