| This thesis is to study the modern Shanghai's real estate industry from such aspects as the modern Shanghai's real estate business conditions, the management personnel, funding sources, its business scope and the operating characteristics as well as the influence of the real estate business activities exerted.China's real estate market in modern times was first started in Shanghai Concession. That Shanghai Concession provided the necessary political asylum, economic basis and population created the advantageous conditions for the flourish of the real estate industry at the time. In addition, the property lease– a voucher that guaranteed the property ownership of foreigners who lived in leased habitats and were engaged in the real estate industry. Among the numerous and mixed real estate personnel were western businessmen, rogues, clerics, traditional Chinese bureaucratic landowners, compradors and enterprisers. And the number of the personnel became increasingly large as the real estate industry developed. Whether there was an easy access to funds had a close relationship to the size of the real estate business and its success. For the purpose of gaining the most profits, Modern Shanghai real estate personnel not only invested a lot with their own capital into the real estate industry to speculate, but also collected funds through mortgage loans, the issuance of bonds and stocks, fraud and other illegal means, leading to the result that foreign speculators profited the most by using Chinese people's finance. Modern Shanghai real estate market was fast developing, its business types including the purchase of land and housing, housing rental services, land leased to build apartments,letting others'housing,mortgage loans,helping others to get land certificates,real estate brokerage. Some other real estate operators also expanded business scope to produce the scale effect in the real estate market, thus playing a paramount part in the industry.Modern Shanghai's real estate industry was closely allied with and backed by political powers like western imperialists and China's bureaucratic warlords, these two allies colluding in their mutual interests. In modern times the real estate industry was related closely with the financial sector, with the financial sector not only making loans to the real estate operators but also directly investing in the real estate industry. Modern Shanghai's real estate management style was very flexible; business strategies became more scientific. This was mainly reflected in the following aspects: real estate personnel attached greater importance to the role of information, trying to broaden access to information by various means; advertising a lot and striving to enhance business image; pursuing long-term investment returns and making good efforts to monopolize the real estate industry; having a stronger consciousness of service. In the course of scientific management, modern Shanghai's real estate business was also accompanied by severe looting. Western real estate businessmen strong purchased land by force, evicted tenants, bid up the price of real estate, designing every predatory means to satisfy their pursuit of money. Modern Shanghai's real estate market was also extremely chaotic with too much speculation and fluctuation of the market, often driving some operators to the edge of bankruptcy and harming the socio-economic development. Nevertheless, Modern Shanghai's real estate industry expanded the area of Shanghai, laid a foundation for Shanghai to build up regional function, and fostered the development of the municipal infrastructure and civil utilities. Another important point deserving attention is that the modern architecture developed rapidly and entered a new stage due to the stimulation from the real estate market. |
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