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居住是人的基本需要,从长期来看房地产市场的表现也基本上与整体经济同步。房地产行业也是一个周期性明显的行业,没有只升不跌的楼市,也没有只跌不升的楼市。中国的香港,房地产业是其经济支柱之一,市场化的程度极高。二次大战以后这50多年,香港楼市共经历了十大周期。考察香港楼市的周期性表现,当有助我们理清思路,对客观看待近来充满争议与变数的中国房地产市场颇有参考价值。
Living is a basic human need, and in the long run the performance of the real estate market is basically synchronized with the overall economy. The real estate industry is also a cyclical and obvious industry. There is no property market that has only risen or failed to decline, nor has there been any rise in the real estate market. China’s Hong Kong, the real estate industry is one of its economic pillars, a very high degree of market-oriented. After World War II for more than 50 years, the Hong Kong property market has experienced ten cycles. Examining the cyclical performance of the property market in Hong Kong will help us to understand our thinking and serve as a valuable reference for the real estate market in China, which is subject to controversy and uncertainty recently.