{
  "title": "Are House Prices Rising Too Fast in China?",
  "publication": "IMF Working Papers, December 1, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404",
  "overlayPath": "/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404/index.md",
  "summary": "Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble.",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble.\n- For China as a whole, the current levels of house prices do not seem significantly higher than would be justified by underlying fundamentals.\n- There are signs of overvaluation in some cities’ mass-market and luxury segments.\n- Unlike advanced economies before 2007-8, prices in China have tended to correct frequently.\n- Given persistently low real interest rates, lack of alternative investment and mortgage-to-GDP trend, rapid property price growth in China has, and will continue to have, a structural driver."
    },
    {
      "heading": "Authors, publication, and identifiers",
      "content": "- Authors: Ashvin Ahuja, Lillian Cheung, Gaofeng Han, Nathan Porter, Wenlang Zhang\n- Date: December 1, 2010\n- Series: Working Paper No. 2010/274\n- Issue: 274\n- Volume: 2010\n- Pages: 31\n- DOI: https://doi.org/10.5089/9781455210817.001\n- Stock No: WPIEA2010274\n- ISBN: 9781455210817\n- ISSN: 1018-5941"
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Asset prices, Housing prices, Land prices, Mortgages, Real interest rates\n- Keywords: benchmark price, house price, price misalignment, property price, WP\n\nSource: IMF Working Paper No. 2010/274, \"Are House Prices Rising Too Fast in China?\" by Ashvin Ahuja, Lillian Cheung, Gaofeng Han, Nathan Porter, and Wenlang Zhang (December 1, 2010); DOI: https://doi.org/10.5089/9781455210817.001\n\n---\n\n Content in this bundle\n\n- wp10274\n  - wp10274 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp10274 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404/bundle-manifest.json)",
    "Authors: Ashvin Ahuja, Lillian Cheung, Gaofeng Han, Nathan Porter, Wenlang Zhang",
    "Published: December 1, 2010",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781455210817.001",
    "Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble.",
    "For China as a whole, the current levels of house prices do not seem significantly higher than would be justified by underlying fundamentals.",
    "There are signs of overvaluation in some cities’ mass-market and luxury segments.",
    "Unlike advanced economies before 2007-8, prices in China have tended to correct frequently.",
    "Given persistently low real interest rates, lack of alternative investment and mortgage-to-GDP trend, rapid property price growth in China has, and will continue to have, a structural driver.",
    "Authors: Ashvin Ahuja, Lillian Cheung, Gaofeng Han, Nathan Porter, Wenlang Zhang",
    "Date: December 1, 2010",
    "Series: Working Paper No. 2010/274",
    "Issue: 274",
    "Volume: 2010",
    "Pages: 31",
    "DOI: https://doi.org/10.5089/9781455210817.001",
    "Stock No: WPIEA2010274",
    "ISBN: 9781455210817",
    "ISSN: 1018-5941",
    "Subject: Asset prices, Housing prices, Land prices, Mortgages, Real interest rates",
    "Keywords: benchmark price, house price, price misalignment, property price, WP",
    "**_wp10274**"
  ],
  "related": [
    {
      "title": "_wp10274",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2010/_wp10274.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2010/_wp10274.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2010/_wp10274.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404/index.md",
    "json": "/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404/index.json",
    "bundleManifest": "/en/publications/wp/issues/2016/12/31/are-house-prices-rising-too-fast-in-china-24404/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-17T09:15:41.591Z"
}