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The three most important things in Chinese real-estate, with help from Google Translate: 1. 地点 dìdiǎn (location) 2. 位置 wèizhì (location) 3. 现场 xiànchǎng (loc
by logfromblammo 8y ago
The three most important things in Chinese real-estate, with help from Google Translate:
1. 地点 dìdiǎn (location)
2. 位置 wèizhì (location)
3. 现场 xiànchǎng (location)
The empty units are not where the people want to be (yet). I think maybe the builders were counting on some people wanting a cheaper alternative (but not too much cheaper!) to skyrocketing prices in the places where people already are.
And China has decided it would rather let speculators buy up units and let them remain vacant, than have them still owned by a near-bankrupt developer, and either still vacant or facing pressures by existing residents to keep prices high on the unsold units.