1997 the Asian financial crisis caused a large number of unfinished buildings in Hainan, and the housing prices in Hainan.

7500 yuan/square meter According to the query of real estate network, the appearance of uncompleted residential flats in Hainan is not only the result of the break of capital chain after the bursting of economic bubble, but also related to the overheating of real estate in Hainan. From 65438 to 0998, the average price of real estate sales in Hainan reached its peak, which was 7500 yuan/m 2, while the per capita income in Haikou was only 5000 yuan/m 2. This means that there are a lot of bubbles in Hainan's real estate market, which eventually led to the emergence of uncompleted residential flats in Hainan. So 1997 During the Asian financial crisis, the house price in Hainan was 7500 yuan/m2.