Abstract
Since the revival of the real estate market in China in early 1990s, real estate investment was focused on several Tier 1 cities such Beijing, Shanghai, Guangzhou and Shenzhen. By early 2000s, real estate investment in the Tier 1 cities began to saturate; both local and foreign real estate investors found it getting more difficult to make money due to fierce competition and changing investment environment. They began to look for opportunities in Tier 2 cities. At the same time, Tier 2 cities around the country were trying their best to attract investment capital, including real estate investment capital, to boost economic development. This paper attempts to study the strategy used by Tier 2 cities in attracting real estate investment capital. Wuhan is chosen as the case study city. The six drivers of city competitiveness" cost of doing business, dynamism of local economy, human resources and training, infrastructure, responsiveness of government departments to business needs and quality of life" are used as a framework to analyse the strategy adopted by this city. The performance of the Wuhan real estate market is then compared to Shanghai, the number one Tier 1 city. The study finds that the various strategies adopted by Wuhan do enable the city to attract substantial real estate investment capital.
| Original language | English |
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| Title of host publication | Proceedings of 2009 International Conference on Construction and Real Estate Management, Beijing, China, 5-6 November 1009 |
| Publisher | China Architecture and Building Press |
| Pages | 1202-1207 |
| Number of pages | 8 |
| Publication status | Published - 2009 |
| Event | International Conference on Construction and Real Estate Management - Duration: 19 Nov 2011 → … |
Conference
| Conference | International Conference on Construction and Real Estate Management |
|---|---|
| Period | 19/11/11 → … |