Research On The Evolution Of Real Estate Industry In Developed Countries And The Enlightenment Thereof

The real estate has grown up since it comes forth as an industry, andtoday become an international industry, which is the inevitable result of theevolution the socioeconomic form in line with the objective rules. Thedevelopment of the real estate provides means of life and production for thedevelopment of the national economy, being an indication reflecting the statusof the living level and the socioeconomic standard. It promotes the nationaleconomy growing quickly, harmoniously and steadily, and effects thefunctions of impetus and guarantee ultimately. The industry of real estatecovers wider and complex contents, which have a lot of subjects to be studiedand researched. The present dissertation is only directed to a preliminaryresearch involved in terms of the limited document length and knowledge ofthe author. The text of the dissertation consists of five parts.Part Ⅰ Definition and Essence of the Real Estate Industry and the RealEstate EconomicsIn this part, the concept of real estate industry is defined, and further theessences thereof are briefly described. Also, the author makes necessaryexplanation to the real estate economics. Real estate as an industry relates tothe economic activities such as investment, development, construction,operation, lease, mortgage, trust, maintenance and decoration concerning thereal estate, being an independent trade having the functions of production andoperation as well as service, more specifically, the two functions includingcirculation and service. Compared to other industries, the real estate industryis characterized in two features, i.e. having abundant contents in a wider areaon one hand, and possessing natural and social properties of the house and theimmanent correlations thereof on the other hand.Part Ⅱ Organizational Patterns and Developing Courses of the RealEstate Industry in the Developed CountriesThe evolution and practice of the real estate industry in the developedcountries makes clear that the development of the real estate complies thelaws and characteristics of its own. The real estate belongs to capitalmerchandise, but not consumptive merchandise, and from a view ofeconomics, the real estate market can obtain equilibrium on different pricelevels. The modernization and high-grade of the industrial structure arerealized step by step with the regulating process thereof. Accordingly, the realestate in the developed countries, which is regarded as the supporting industry,goes through tens to hundred of years, for example, the rapid economicdevelopment in America for one hundred years after its independenceestablishes a strong economic base for the development of the real estateindustry. The construction on a large scale in America began after the SecondWorld War, the real estate industry of America developed more fleetly alongwith the developed national economy and living level.Part Ⅲ Factors effecting on the Development of the Real EstateIndustry in the Developed CountriesThe real estate serves as a basic industry in the development of the wholeeconomy. As the supporting industry of the national economy, thedevelopment of the real estate results different affections on differentcountries. The politics, culture, history, law status of the economicdevelopment as well as the values in the corresponding country should betaken into account when enacting the policy relating to the development of thereal estate, since the factor effecting on the development of the real estate aregreatly different in different countries. There are positive or negative factorsand many occurrent affecting factors which may promote or counteract thedevelopment and growth of the real estate industry. In each country, the laws,regulations and policy should be separately established considering theconcrete national conditions so as to support and lead the real estatedevelopment by meads of the economic levers.Part Ⅳ Comprehensive Analysis of the Experiences and Lessons ofthe Real Estate Industry in the Developed CountriesThe development of the real estate substantively depends on thedeveloping level of the whole economy. The relation between the twodevelopments should be kept in a harmonious manner. That is to say, theinvestment of the real estate should be possessed of a proper proportionrelative to the gross domestic product. The real estate industry lies in aposition having objectivity, being an indicator of the social productivity andthe developing level of the national economy in a country. Furthermore, thereal estate industry is nearly correlative to the financial world. The marketfluctuations of the real estate will ultimately affect the stability of monetarymarket. In the developed countries, the policy concerning the real estate iscontinuously regulated along with the formation and growth of real estateindustry, so that the development of the real estate matches the status of theeconomy, avoiding a possible economic crisis due to the inconsistentdevelopment.Part Ⅴ Analysis of the Actuality and Deficiencies of the Real EstateIndustry in China and Proposal for its Development in the Future through theResearch on the Development of the Real Estate in the Developed CountriesThe real estate industry has become an important industrial group of thenational economy, playing a indispensable role as a basal, leading andsupporting industry. Studying the evolution and development of the real estatein China will greatly effect on the speedup of the industrialization, citificationand modernization, on the regulation of the industrial structure, on theoptimization of the allocation of the resources, on the improvement of theconsumptive structure and on the promotion of the continuous development ofthe real estate. It is necessary to know about the developing courses, theindustrial structure, the affecting factors, the experiences and lessonscompletely. Through the comprehensive research on the industry of real estate,it is possible to obtain a valuable reference for the modus and direction of thedevelopment of the real estate. The experiences and lessons deriving from thelong time development of the real estate of the developed countries can give auseful enlightenment by combining the actual conditions in China. Thus, it ishelpful for us to find deficiencies presented in the courses of the developmentof the real estate and therefore lead to a proper way to perform the reformationof the system concerning the real estate so as to develop the industry of realestate favorably. Upon the above research, the author makes relevantsuggestions on the development of the real estate industry in China.