Housing intermediary services in China: The rise and fall of 'Fang Wu Yin Hang'

Bo Sin Tang; Anne Haila; Siu Wai Wong

doi:10.1007/s10901-006-9053-6

Housing intermediary services in China: The rise and fall of 'Fang Wu Yin Hang'

Bo Sin Tang, Anne Haila, Siu Wai Wong

The Hong Kong Polytechnic University

Research output: Journal article publication › Journal article › Academic research › peer-review

4 Citations (Scopus)

Abstract

Housing reforms in China are often conceived to have engendered a gradual shift towards a market system. New institutions have been introduced to enable decentralized, monetarized and privatized allocation of housing units. This study explores the emergence, growth and downfall of an intermediary service (known as 'fang wu yin hang') created spontaneously by real estate agents to facilitate housing transactions in the Chinese cities. Although this new institution looked capable of strengthening the rationality, efficiency, transparency and impersonality of China's housing market, it was abandoned soon after its inception. The failure of this transient service suggests the presence of some social institutions, which could have blocked China's progress towards a full-fledged market system in the housing sector. 2006.

Original language	English
Pages (from-to)	337-354
Number of pages	18
Journal	Journal of Housing and the Built Environment
Volume	21
Issue number	4
DOIs	https://doi.org/10.1007/s10901-006-9053-6
Publication status	Published - 1 Dec 2006

Keywords

China
Housing transactions
Institutions

ASJC Scopus subject areas

Geography, Planning and Development
Urban Studies

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1007/s10901-006-9053-6

Cite this

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AB - Housing reforms in China are often conceived to have engendered a gradual shift towards a market system. New institutions have been introduced to enable decentralized, monetarized and privatized allocation of housing units. This study explores the emergence, growth and downfall of an intermediary service (known as 'fang wu yin hang') created spontaneously by real estate agents to facilitate housing transactions in the Chinese cities. Although this new institution looked capable of strengthening the rationality, efficiency, transparency and impersonality of China's housing market, it was abandoned soon after its inception. The failure of this transient service suggests the presence of some social institutions, which could have blocked China's progress towards a full-fledged market system in the housing sector. 2006.

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Housing intermediary services in China: The rise and fall of 'Fang Wu Yin Hang'

Abstract

Keywords

ASJC Scopus subject areas

UN SDGs

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