Risk and Uncertainty in the Chinese Housing Market

Abstract

The transition from plan to market has become a dominant theme in Chinese housing policy in the last two decades. A growing body of literature on the process of this transition has been produced. However, the issue of uncertainty in the Chinese housing market has been neglected. The uncertainty and risks are emerging at a number of levels and areas. This article looks at the uncertainty of the Chinese housing market and identifies its consequences for housing consumption, housing production and homeownership.