Everything about China and it's culture

Everything about China and it's culture


Housing boom continues

While the US real-estate market maybe suffering from a bout of subprime malaise as of late, China’s housing boom continues unabated (until it hits a wall of its own). According to numbers released yesterday, in August, prices for new construction among China’s top 70 metro areas on average are up 8.2 percent year over year, and 1.4 percent sequentially. Shenzhen leads the pack with a 20 percent annual appreciation rate. Shanghai in comparison, sports a far more modest yearly increase of just 3.6 percent. Chinese residential real estate market has been on a tear since 2000. Prices in several top tier cities have already gone up 300 to 500 percent coming into this year.




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