3 ms·
Plus, many Chinese cities have caps on the number of apartments one family can buy.
by olalonde 11y ago
Plus, many Chinese cities have caps on the number of apartments one family can buy.
- seanmcdirmid 11y agoThose caps went away quickly as soon as the market showed a little bit of weakness. I think they only remain in Shanghai and Beijing, and even then.... A lot of apartments are owned and vacant even in first tier cities; rents are incredibly weak compared to sale prices. I pay 7500 rmb/month ($1100?) for something that would go on the market for $700k! Top that off, volume in 2nd hand real estate is pretty low even here in Beijing (you hear "I would sell one of my apartments, but no one would buy it for the price I want" - doh!).