Chinese Real Estate Market Update
The housing boom in China has been characterized by singificant price growth this year. Housing prices in Beijing grew 20% in first 8 months of the year [People’s Daily]. Government forecasts are for more of the same for the remainder of the year [People’s Daily].
Developer’s have been more creative in their marketing, or as an official Chinese Newspaper describes it as “concocting” westernized names for their developments but some have been pressured [People’s Daily] to drop their names and appeal more to local culture.
Shanghai is still the hottest real estate market in China. Prices of “second-hand” housing grew faster than new housing [People’s Daily].
What do you have to say about the statistic the over 50% of the world’s construction is taking place in china alone? What is driving it.. More importantly who is funding it????? What is forcing this massive demand in the housing sector – I guess large scale migration. Could anyone give me inputs on how such high levels of urbanization are being dealt with? Are Chinese cities growing in size too?.. Or has the administration already put in regulations to ensure compact urban conglomerations.
Well, they want to achive 80 % urbanization..But really no plans on achiving compact urban centres- which could a problem later.Also there is a perception that they are building on prime agrl land- conversion of frms to towns…. Even though they encourage higher density.. it is’nt enough!
i believe most of the huge apartment complexes are empty in many parts country.The quality of contruction is supposed to be awful. China is the most favoured destination from foreign investors today. the whole china scenario is blurry- considering the info that comes out is screened.free press is not something they believe in.