Real Estate Market in China and Japan

Paper Summary:

This paper discusses the real estate markets of both China and Japan with a view to first examining each country's individual, cultural, political, or sociological characteristics. In regards to Japan, the cultural and social dimension is given precedence over the political and the governmental while in regards to China the governmental and the political is given precedence over the cultural and the social.

From the Paper:

"Researchers for years have argued the nature and character of Asian culture in general and Chinese and Japanese culture specifically; though for various reasons. In examining these two dynamic countries within the rapidly evolving Asia-Pacific Rim in terms of their respective real estate markets, it is important to understand these two countries, and their respective cultures, independently. Though both countries are part of the collective Asian culture and all that that categorization implies: collectivist, homogeneous, Confucian and industrious, they are also polarized differently from each other. In this respect, it is paramount to examine each market differently, or rather, from a different perspective. For Japan, it is perhaps best to examine from a socio-cultural point of view."

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