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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: RealMuLan who wrote (26121)2/9/2005 12:44:36 PM
From: SeaViewer  Read Replies (1) of 110194
 
Shanghai' housing bubble is at every level. People are now buying old flats to rent out, since new ones are too expensive. Most buyers have ties with foreign investment. Foreign developers (most are from Hong Kong, Taiwan, Japan, S Korea) are buying land to develop office and retail spaces. They are paying sky-high price for the land.

One interesting note, my late grandmother had a piece of land in central area in Shanghai. An foreign developer bought it just before Asian currency crisis. Buildings were never built. It is still a piece of empty land now. I have no idea why nobody build anything there. The new apartment a couple of blocks away are selling out at 20,000 yuan per sq meter.
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