Emerging Commercial Property Cycle

BOOK SUMMARY -- This book is dedicated to the process§of understanding one of the emerging and perhaps the §will-be largest property markets the Chinese §commercial property market, focusing on its §formation and its micro and macro-level behaviours. §It investigates commercial property markets by §examining behaviours and drivers with reference to §existing property cycle theory. The conclusions §discovered that structural change is a basic driver §of property cycles. This result has important global §implications for policy and investment decision-§making for property cycle research and emerging §market economies.§§§TESTIMONIAL -- Understanding the dynamics of the§commercial property markets in China has taken on§increased importance for institutional investors in§recent years. Hao Wu has done an excellent job in§enhancing our understanding of this important§property market from an institutional economics§perspective. This book is a welcome addition to the§growing body of knowledge regarding the development§of this important international property market.§-- Professor Graeme Newell, Professor of Property §Investment, University of Western Sydney