TITLE:
Ghost Culture, Face Culture and Illusion of Demand—A Cultural Perspective of Pension Real Estate
AUTHORS:
Deyong Gao, Yuan Zeng
KEYWORDS:
Pension Real Estate, Face Culture, Ghost Culture, Localization, Family Pension
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.7 No.3,
March
15,
2017
ABSTRACT: The aging of the population and the continuous development of the real
estate industry have brought about the rise of pension real estate. Nowadays,
the academic and real estate enterprises have passion for pension real estate
and do a lot of discussions. However, in fact, the study of China’s pension
real estate theory is still in its infancy, the practice has been stalled. From
the traditional culture point of view, Chinese ghost culture and face culture
affect the effective demand of the pension real estate. For the elderly, the elderly
live together; the death of an elderly person will cause fear, then affecting
physical and mental health. For sons and daughters, few of them will send their
parents to pension institutions because of concept of saving face whether the
sons and daughters are rich or not. This cultural conflict is the cause of
China’s pension real estate in trouble. Therefore, for the development of
pension real estate, we must take into account the unique cultural background
of China, and take the localization of the road.