Without doubt, after several warm-up meetings at the Central Government level in 2012, the new urbanization strategy proposed by the “18th National Congress” will bring a new round of positives to the real estate industry that has been put under stringent control. China’s property market will usher in a period of economic recovery.

As a historical mission in China's modernization and the greatest potential for expanding domestic demand, the healthy development of the new urbanization strategy is closely related to the desire of the people for narrowing the urban-rural gap and achieving common prosperity. Following the emergence of more small-to-medium cities and the superimposed demands due to rapid urbanization and concentrated, explosive requirements for existing stock, the largest group of “need-to-have” buyers in real estate history is expected to be awakened. According to initial estimates, from 2012 to 2021, the process of urbanization will trigger an annual increase of approximately 592 million square meters of space, equivalent to 61% of total commercial housing sales in 2011.  

The new urbanization strategy will bring new market space to the real estate industry. But, we must also be aware that developers will unilaterally pursue high profits and aggressively engage in new urbanization initiatives. As far as small-to-medium cities, and even small towns, are concerned, there is a possibility of repeating the history of skyrocketing housing prices in first-and-second-tier cities. Obviously, this wasn’t the original intent of the Government in promoting new urbanization.

As China's urbanization continues to accelerate, it is foreseeable that industrial structure, employment, living environment, social security and other areas of society will experience important “rural” to “urban” changes. Can new urbanization crack the "empty home" and "ghost town" curse? Consistently under the pressure of controversy, how will the real estate industry re-enter the stage rationally under the new situation? As a “city-building” booster creating wealth for itself, how will the real estate industry also create sustainable social value in a drastically changing society?

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Venue: Yueyang Nanhu Hotel, 3F, No. 2 Building, No.36 Yongyuan Str. Nan Hu, Yueyang, Hunan Province

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