Policy risks in developing the housing product process: A holistic perspective

Housing products are subject to more risks than other manufacturing products. Based on an empirical investigation, this paper examines the policy risks existing in the process of developing housing products in China. The findings demonstrate that policy risks have a major impact on the development of housing products in China and with different levels of influences at different development stages. A comprehensive impact degree (CID) model is introduced to analyze the major policy risks affecting business performance during the development process. The research findings provide a valuable reference to both housing developers and policy makers in the industry for adopting proper risk management strategies to mitigate the effects of the risks involved in the development of the Chinese housing market. © 2013 Elsevier Ltd. All rights reserved.