Emerging Commercial Property Cycle

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BOOK SUMMARY -- This book is dedicated to the processof 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 thecommercial property markets in China has taken onincreased importance for institutional investors inrecent years. Hao Wu has done an excellent job inenhancing our understanding of this importantproperty market from an institutional economicsperspective. This book is a welcome addition to thegrowing body of knowledge regarding the developmentof this important international property market.-- Professor Graeme Newell, Professor of Property Investment, University of Western Sydney