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One thing not mentioned here is how much the Chinese value brand new properties. By brand new I mean, properties that have never been used/lived in. It's a com
by thomasd 13y ago
One thing not mentioned here is how much the Chinese value brand new properties. By brand new I mean, properties that have never been used/lived in.
It's a common trend in real estate where investors buy properties and leave it vacant to brag about the place being brand new to sell at a higher price in the future.
This is likely to exacerbate the "empty" cities problem in China.
- bane 13y agoInterestingly, in Japan, this preference is dealt with by building "disposable" houses with financing and a 25 year depreciating property valuation built around this concept. Here's a great video https://www.youtube.com/watch?v=7tNpFkdZwpk https://www.youtube.com/watch?v=7tNpFkdZwpk