Abstract Shenzhen is the city with comparatively well-developed real estate legislation and regulation as well as real estate market.Accordingly, the problems puzzled by real estate market in Shenzhen have some antecedency and representativeness.Therefore, it could be reference to other cities when summarizing and analyzing some existing problems in the real estate market of Shenzhen and making some countermeasures for it.By analyzing the investigation information about houses on sale of 2002 in Shenzhen, the paper summarizes 28 detailed cases of the unregulated behaviors which exist in the process of propaganda, contract signature, finances management and so on.Then the paper tries to analyze the problems from the five aspects that are producers (developers), sellers (developers or agencies), customers (buyers), the institution (including laws, legislations, administrative rules, normative files, traditions, customs and conventions)and executors of the institution (the administration). And it finds out the reasons such as irrational related policies, risky mentality of developers (agencies), weak self-protection ability of customers, difficulty of supervision etc.In the end, the paper suggests the way of better regulation through consummating policies and strengthening the management, including carrying out the system of publishing developers' information, raising the default cost of developers, reinforcing the management of pre-selling houses, implementing the policy of selling houses according to inner construction areas, introducing the MLS (Multiply Listing Services)System, inducing land montage policy, founding negotiation organizations, reinforcing the management of developers and agencies in real estate market, building up the credit system of real estate developers and their stuff, changing the functions of the government, publicizing the laws and regulations, and identifying the responsibility of administrative faults and so on.
2003, Vol. 18 
