THE REGIONAL CHARACTERISTIC ANALYSIS OF REAL ESTATE MARKET
指出中国房地产市场具有区域分割特征，房地产开发企业在本地市场形成垄断区域，拥有较大市场势力，挑战了基于全国市场的低集中度假设。
The assumption about the low market concentration degree in China real estate industry bases on the hypothesis about the national market, don't note local of real estate market. It is true that real estate markets of different region are separate, real estate development enterprise only competes with its vicinages in local market and builds its own monopoly region, and the barriers to entry of real estate industry are very height. For that reason real estate development enterprise contains more market power.