Research · Urbanization
11 months total retail sales in Hangzhou per year
In the recent 10 years, the retail sales in most Chinese cities including Hangzhou has generally grown steadily with two factors:
* Inflation
* Population growth
With new comers increase, the real estate companies are building new blocks at the frontier of cities. They would build a big shopping mall next to their office and housing, which helps them increase the housing price and sell the estates.
A part of Hangzhou in 2 years
2017
2019
Fields turned into buildings
Roles in the Phenomenon
Suburb Local Habitants
Real Estate Companies
City expand
↓
Housing price rise
↓
Be asked for property
↓
Big compensation
↓
Gain without working
↓
Extravagant shopping
↓
Nouveau riche
Buy property
↓
Build shopping malls
↓
Appeal consumers
↓
Build office & flat
↓
Sell office & flat
↓
Earn profit
↓
Buy more properties
What about new comers who caused all those things?