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My understanding is that real estate is not taxed in China, so it is used to park extra money or as investment. There are places in drug lord countries like Ce
by patrickg_zill 8y ago
My understanding is that real estate is not taxed in China, so it is used to park extra money or as investment.
There are places in drug lord countries like Central and South America where e.g. condominium prices are $300,000 USD minimum, while people living there are lucky to earn $20-30 USD per day.
- friendly_chap 8y agoFunnily enough you say that as that's some extreme 3rd world example. In London the average flat price is like $700,000 and a lot of people make $60-70 us per day here...