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>> There are no property taxes in most of China, so people with money park it in real estate. Exactly the case in India. Most people there park money in real e
by gopi 15y ago
>> There are no property taxes in most of China, so people with money park it in real estate.
Exactly the case in India. Most people there park money in real estate. Also in the suburbs the official land value (determined by govt) is far less than the real market value. So investing in that kind of land is way to park black money (or corruption money).
The usual real estate factors like rent-to-own don't apply, Infact the prices in the suburbs of even a 3rd tier small city like Coimbatore is more than that in a major US metro!
- yaix 15y ago>> There are no property taxes in most of China, so people with money park it in real estate. There are now in Shanghai, Beijing and a few other major cities. That's quite new and started just this year.
- signa11 15y ago>> There are no property taxes in most of China, so people with money park it in real estate. >Exactly the case in India. Most people there park money in real estate. not true. there most definitely are property taxes in india. the reason why folks park money in real-estate is that it seems to an appreciating asset not being subjected to harsh vagaries of the volatile stock market...