quality:correction
Real estate market

In 1990, Hainan province was the site of the largest property bust in modern Chinese history With 2009 and the announcement of the Chinese Government's plan to develop the province into a major international tourist location, property sales rose by 73%, creating the possibility of another bubble in Hainan's property market.

Since March 2010, commercial and residential property values in some parts of Hainan have slowed down since the market peaked in February.In March, average month-on-month transaction prices dropped 12.82% to 12,280 RMB per square meter, with a reduction in volume to 627,000 square meters (6,750,000 sq ft), a 19.05% decline. Later in April, prices declined 2.84% to 11,932 yuan per square metre, with a 57.59% decline in volume to 567,200 square meters (6,105,000 sq ft). Then in May prices declined a further 29.74% from the previous month to 8,483 yuan per square metre, with a 57.95% decline in volume to 229,000 square meters (2,460,000 sq ft). However, property prices in the tourist resort of Sanya remain strong as of January 2011, with prime developments selling at prices of up to 80,000 RMB per square metre.

Data for 2016 data shows that Hainan saw an increase in house sales of 44%. Volume in sales was 129 billion RMB ($18.82 billion) which is a rise of 51.2 percent year-on-year. During that year in November, commercial apartments in Sanya sold for 20,695 RMB per square meter a rise of 15.75% year-on-year. The total amount of Sanya real estate sold during that time was 212,400 square meters.

Out of China's twenty leading real estate developers, eighteen had invested in Hainan during 2016.

In the beginning of 2017, the price for a house in Haikou was approximately 8,000 RMB ($1,170) per square meter and $20,000 RMB ($2,977) per square meter in Sanya.