Research On The Vacation Real Estate Development And Regulation In China

There exists abundant natural and cultural tourism resource in our country, such as long coastline, beaches of high quality, lots of lakes, mountains, hot springs and historical cultural relics, which lay a solid foundation for the development of vacation real estate. For one thing, with the rapid growth of economy in our country and the increase of the number of people of middle class, better market condition is supplied with the development of vacation real estate, for which investment on vacation real estate has attracted numbers of people. There are nearly 200 tourist and holiday resorts and all kinds of resorts, tourist villas and tourist apartments are appearing at a very large scale. For the other thing, since China entered WTO, domestic leisure market is becoming more internationalized and more resorts groups abroad start to launch types of leisure items in owned enterprises, joint-venture or trusteeship. However, there also exists lots of problems during the development of vacation real estate, such as too much local development, enclosure, encroaching resource, damaging the ecological environment, over-exploitation and so on, which urgently needs more government regulation on vacation leisure real estate, in expectation to protect land and ecology resource, regulate development and operation behavior, and promote sustainable development.Based on this, focuse on the relationship between vacation real estate development and government regulation, this article carries on in-depth study on some key problems in the development of vacation real estate. With government regulation theory, stakeholder theory and the theory of industrial organization this article conduct a deep study on the vacation real estate development, study on vacation real estate market structure, market behavior and market performance using SCP paradigm. Proposesd that vacation real estate market structure is the foundation, behavior analysis is a method to improve and enhance vacation real estate market performance,the three interaction between dynamic binding constraints.Meanwhile, referring to the development and regulation of leisure real estate abroad, reformation in government regulation on leisure real estate is also discussed. According to stakeholders theory, government regulation theory and sustainable theory, the relationship between leisure real estate and regulation is overall discussed through qualitative analysis, comparative analysis and empirical analysis. There are six parts in this article:Define leisure real estate, including the definition of leisure real estate, the basic types of leisure real estate, especially the analysis on industry characteristics of leisure real estate. Make a relevant analysis on the vacation real estate development and government intervention. The necessity of government regulation on vacation real estate, basis of government regulation, content of institutional supply and impact on vacation real estate are all discussed in this part. There is analysis on the stage of evolution, geographic distribution of leisure real estate and an in-depth study on many problems existed in leisure real estate. Meanwhile, we analyze development model of holiday house sites in our country and summarize the four models existed in our country:government monopoly development, market-driven development, government-led development and resource relying development model. This part analyzed our vacation real estate market structure, market behavior and market performance using SCP paradigm. Mainly studied the vacation real estate market concentration, product differentiation, developers conduct, Government acts, and comparative analysis of market performance. Discuss stakeholders' benefit-sharing mechanisms in leisure real estate. In order to promote sustainable development, in this part, through analyzing stakeholders' interest demands, social responsibilities and types of and reasons for interest conflict, balancing mechanism solving conflict of interest and suggestion on government coordination will be offered. vacation real estate development make performance benefits of Stakeholder with a greater difference in the distribution of benefits and result in conflict. By the analysis interests and social responsibilities demands of the stakeholders, enumerated interest described conflicts style and reason, and constructed equitable mechanism and coordination for vacation real estate sustainable development. Analyze government regulation in leisure real estate development. Basic requirements for transformation of government functions and regulation reformation and analysis on institutional supply in policy and law of real estate industry regulation are discussed, trying to build government regulation system in leisure real estate development. Finally, we carry on empirical study by taking leisure real estate development in Qiandao Lake as the case.Through theory analysis, comparative analysis and empirical study, some conclusion is made:(1) Leisure real estate has duality, which is a combination of tourism and real estate industry. On one hand, the development of leisure real estate provides tourism with space for activities and reception facilities, which is the most important material carrier; on the other hand, tourism also supplies more visitors for the development of leisure real estate. In fact, they rely on each other to gain mutual development.(2) The development of leisure real estate is actually the exploitation to tourism resource, and consumption for leisure is consumption of environment, which has strong externality. Ecological environment has been the most important restriction factor for leisure real estate development, which means damaging ecological environment will make leisure real estate achieve no further development.(3) Building benefit-sharing mechanisms in real estate development is great importance to gain sustainable development, and the protection of community residents' interest is the core of interest conflicts. Therefore, government has to protect public properties of public resource to avoid privatization of public resource and government should shoulder the responsibility of protecting public ethics.(4) To some extent, the development and operation model of leisure land shows the improper positioning of government in leisure real estate development. With the improvement of market mechanism and relevant laws, government should gradually reduce until withdraw the direct leisure real estate development, instead of which devoting to market supervision and coordination of interests.(5)The goal of government regulation is to regulate market, protect environment and resource and protect public interest. So government needs to build more industry policy and regulations on industry market in order to strongly support leisure industry and form fair market transaction environment. Proper industry policy can help to reduce asymmetric information from consumers and operators, which makes] sense to supervise, promote and coordinate the industry development, and it can also help to build and remain the maximal flexibility of market to promote industrial innovation. Making leisure industry policy should take social benefit into consideration, which will lead a transformation from economy driven to improvement of quality of people and life.