Yanji City Real Estate Market Development Trends, Problems And Solutions

Since 2008, the financial crisis triggered by the U.S. subprime mortgage crisis has gradually spread to many areas around the world, including Chinese real estate market. Because of the global financial crisis, the investment rate of Chinese real estate market decreased, the construction area, completed area, and new construction area also reduced compared to the previous years. As viewed from the nation, the direct contributions of the real estate industry to GDP growth were reducing. In a macroscopic view, Chinese real estate industry is experiencing big changes and developments.Recently, through the advancement of Yanji City real estate market, real estate industry has improved the urban landscape, urban infrastructure and the provision of residential housing, and increased revenue. But due to the recent global financial crisis, personal wealth was reducing, and the ability and willingness of investment and consumption was also weakening, as a result, real estate enterprises in Yanji City were difficult to finance, and there was a downturn in real estate transactions. Therefore, the real estate market got into adjustment period.In this paper, to promote the healthy development of Yanji City and pulling effect of real estate industry on the economy, we reviewed the background of the financial crisis, analyzed the current development trends and problems in Yanji City real estate market, and proposed relevant countermeasures.The first part is introduction. In the introduction, the background, the literature review, the purpose and significance of this research, involved methods and ideas are introduced. The second part is some of the basic theory. In this part we discussed the basic concepts and theories about real estate, real-estate sector, and real estate market, and highlighted real estate market supply and demand theory and real estate prices theory. In the third part, we introduced the financial crisis triggered by the sub-prime crisis, analyzed the real estate market development trends in china, specifically in Yanji City, and discussed the financial crisis impact on the real estate market of Yanji City. In the fourth part, problems on the Yanji City real estate development, real estate finance, real estate market, property management and shanty towns transformation were analyzed. In the fifth part, we proposed that through the standardization of real estate market and the improvement of the real estate development mechanism, and via the establishment of macroeconomic policies to promote the development of the real estate market in Yanji City according to the national policy guidance, the problems in the real estate market could be addressed.