China's renowned real estate figure, Ren Zhiqiang, chairman of Huayuan Real Estate, came to Guiyang, capital city of Southwest China's Guizhou province, on November 24, to join the 2014 Guizhou Fortune Carnival.

Ren Zhiqiang, chairman of Huayuan Real Estate, comes to Guiyang, capital city of Southwest China's Guizhou province, on November 24. Ren is a VIP guest of the 2014 Guizhou Fortune Carnival held in Guiyang.[Photo/chiandaily.com.cn]

Ren was one of three guests at a sub forum, Economic Trends and Prospects, during the Guizhou Fortune Carnival. The other two were Wu Xiaobo, a financial writer, and Wang Depei, principle researcher of Forecast Think Tank.

Ren holds positive views on the Guiyang's real estate market. He said: "The GDP of Guiyang's real estate industry only takes up 2.57 percent of the provincial total, which is far under the national average. It means that Guiyang's real estate market still has huge space for development."

In another aspect, Guiyang's GDP takes up 24.8 percent of Guizhou province's total GDP, which means that Guiyang's economy is a great driver for the whole province's economic development.

Based on the situation, Guiyang's real estate market will not likely see a regression in the near future.

He added, "But I would like to kindly remind that, owning real estate does not necessarily mean a good life. I believe that, with improving life quality, people's improvement demand will gradually surpass the rigid demand."