> I was told that the value of homes in these economic development areas -- even in "tier 3" cities -- is going up by an absolute minimum of 10-15%/yr (that's

> I was told that the value of homes in these economic development areas -- even in "tier 3" cities -- is going up by an absolute minimum of 10-15%/yr (that's being conservative). So if you have money in China, of course you invest in housing. There's no property tax. It helps a lot when the government refuses to register sales when the price is under the guidelines. If you put a price floor in the market can stay irrational even longer than normal during a bubble.