While the U.S. housing market suffers, a residential building explosion is continuing on the other side of the world. In fact, it is estimated that China's building boom accounts for more than 100 billion square feet per year.

The boom began happening some time ago, as evidenced by an article having appeared in a 2007 Wall Street Journal edition that claimed that China's 20-somethings are finding it possible to purchase their own homes. It is estimated that homeownership rates are as high as 80 percent in the cities, topping U.S. numbers.

Pretty astounding considering that prior to Chinese housing reform in 1985, it was estimated that privately owned homes accounted for less than 17 percent of urban housing stock.

To find out more about this market, the NAHB Research Center has recently launched its second "China Builder Practices Survey" designed to gather data on the nature, volume and building materials used in new home construction in major Chinese cities such as Beijing and Shanghai.

The study's data will help both product manufacturers and their suppliers to make important strategic decisions for expansion into the Chinese market.

Michael Luzier, president of the NAHB Research Center, admits that the Chinese new home market is both impressive and representative of enormous business opportunities for North American manufacturers to explore that market.

The research will include surveys on items such as insulation, roofing, concrete, windows and wood products, to name a few, and will be working with Chinese architects, academics and engineers to help with the study. For manufacturers and suppliers wishing to take an active part in this survey may contact Ed Hudson, director of market research at NAHBRC.org.

Published: April 22, 2008

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A veteran of the real estate and homebuilding industries since 1986, Dena Kouremetis first joined Realty Times as a new homes writer in 1998. Since then, she has authored four books, written consumer columns on new homes issues for websites and newspapers all across the country, contributed to builder trade magazines, appeared as a guest expert on several radio shows and even created a ten-chapter podcast for LendingTree.com’s homebuilder website, iNest.com, now available on iTunes, entitled Uncharted Waters; Navigating the Purchase of a New Production Home. Kouremetis recently joined her local Folsom, CA Coldwell Banker office as a broker associate while continuing to write for the real estate industry. For the past three years, she has been training real estate agents for both the resale and new homes industries, putting her experience, research expertise and gift of expression to work to help others entering the business.