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Why the Chinese government’s warning on property speculation has so few listeners

What investments would you have made in 2011? For residents in Chinese cities, the answer was “buy a flat”. Apart from bitcoin and Kweichow Moutai stock, few assets have gained as much in the past decade as property in China.In Shenzhen, for instance, the average residential property price has surged to nearly 90,000 yuan (US$13, 815) per square metre from less than 20,000 yuan a decade ago.It’s ironic given 2011 was also the year Beijing became “serious” about cooling property prices. It…

Read the original article at South China Morning Post

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