Too many cranes in the air at one time = trouble ahead usually
Hot housing prices in Beijing expected to cool off
The fast growth of housing prices in the Chinese capital city of Beijing, which overtook the hottest real estate market Shanghai last year, is expected to slow down gradually, today's China Daily said, quoting analysts.
Increasing housing supply, more economically affordable real estate and the government's macro-control policies will bring down the high residential property prices in Beijing, said industry insiders.According to statistics bureau of Beijing and Shanghai, the average housing price in Beijing reached 6,725 yuan (US$830) per square meter last year, a rise of 19.2 percent from the previous year, while the housing price in Shanghai hit 6,698 yuan (US$827) per square meter, an increase of 4.9 percent over 2004, with the growth slowing by 9.7 percentage points.
Beijing's sharp price in real estate last year was partly due to sluggish interim supply, according to an official of Beijing Land Bureau, who asked to be anonymous."As housing production has a long production period, the supply on the real estate market shows a strong inertia, potential supply capacity accumulated since 2004 will successively be completed this spring, therefore, the price growth is to slide down," the official said.
March 06, 2006
Ah, welcome to capitalism China. Lesson #1 - busts follow booms
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2 comments:
Why do I care about the housing bubble in China . Have the goverment buy the condos and rent them out to the poor in CHina . Who cares what happens in China . I dont care if they over-built . As I see it they need Donald Trump in the advertising campaign .
hmmm.... I DO care about the housing bubble in China, or anywhere else for that matter.
So, back in the 20's and 30's, was that mania followed by depression a world-wide thing?
How did other parts of the world fare?
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