An overview of Shanghai residential housing industry Before the 1978 reform investment on residential housing was little. The consequence: the living space floor per capita in 1952 was 3.4 sqm; in 1978, 4.5 sqm, Between 1978-1998, housing development was much lagged behind the economic growth The 1998 reform lifted the welfare housing system. But the market slumped into stagnancy between 1999 and 1999. The Shanghai government had tried hard to stimulate the home demand Since 2001, the housing market begins soaring. The house prices in Shanghai kept rising with continuously double-digit rises between 2002 and May of 2005 The market has been cooled down since May of 2005 However, strong rebound since this summer China Urban Land and Housing in 9 the 21st Century, HK Dec 2007China Urban Land and Housing in the 21st Century, HK Dec.2007 9 An overview of Shanghai residential housing industry ► Before the 1978 reform, investment on residential housing was little. The consequence: the living space floor per capita in 1952 was 3.4 sqm; in 1978, 4.5 sqm, ► Between 1978-1998, housing development was much lagged behind the economic growth. ► The 1998 reform lifted the welfare housing system. But the market slumped into stagnancy between 1999 and 1999. The Shanghai government had tried hard to stimulate the home demand. ► Since 2001, the housing market begins soaring. The house prices in Shanghai kept rising with continuously double-digit rises between 2002 and May of 2005. ► The market has been cooled down since May of 2005. ► However, strong rebound since this summer