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Market Transition and Unequal Wealth Accumulation: A Critical Analysis of China's Housing Sector in Post-1978

Author(s)

Antu Shangguan

Affiliation(s)

China Tower Co., Ltd. Beijing Branch, Beijing, China

Abstract

Since 1978, housing markets in China have transformed both China’s urban and rural landscapes, shifting from a welfarebased allocation system to a marketdominated one. This transition created the largest housing market in the world, but has also intensified housing inequality, which now acts as a primary driver of wealth inequality in China. The commodification of housing has turned it into a key investment asset, disproportionately benefiting early buyers and those with institutional resources, while pricing out others. Consequently, the rapid appreciation of housing wealth has significantly widened the overall wealth gap in urban China.

Keywords

Housing Sector; Reforms; Inequality; Wealth; Bubble; Market; Stability; Liberal

References

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