Fully understanding and summarizing the experience of Hainan's real estate bubble can warn the present and the future. There are many reasons for the formation of Hainan real estate bubble. How to analyze it? First, Hainan's unique natural resources and policy conditions provide a theme for the formation of the bubble, that is, speculation. Hainan province, a special economic zone, is rich in tropical crop resources, tropical scenery and tourism resources, and is a place that people all over the country are fascinated by. At that time, the main theme of Hainan was: the concept of the largest special economic zone, the concept of tropical crops, the concept of tropical tourism, the concept of politics, the concept of free port and the concept of integration with the international economy. It seems that with Hainan, you can reach the sky in one step.

Second, the loose real estate management policy makes speculators feel at home. Especially in the absence of land control policies, all local governments can sell land and sign a paper agreement to find a home all over the street. The entry threshold of real estate is low, and loose land policy and housing mortgage loan policy are important conditions for the formation of real estate bubble.

Third, the extensive and in-depth participation of banks and non-bank financial institutions is the engine of bubble formation. Without blood transfusion from financial institutions, Hainan's real estate bubble could not have expanded. When the State Council issued regulations to cut off the blood transfusion channels of financial institutions, Hainan real estate prices avalanche, indicating that the participation of financial institutions is the most critical factor in the formation of the bubble. This shows from another side that the supervision of financial institutions is the fundamental measure to prevent bubbles from appearing.

Under the joint action of the three major forces, the real estate price in Hainan has plummeted, which is obviously unhealthy and not conducive to the development of the industry. Therefore, how to fully absorb Hainan's experience and lessons, and better plan and develop tourism real estate in Hainan, is an important issue facing the current governors in Hainan. How effective it is, let us wait and see. But fully understanding and summarizing the experience of Hainan's real estate bubble is enough to warn the present and the future.