Chinese Real Estate Market Update
The housing boom in China has been characterized by singificant price growth this year. Housing prices in Beijing grew 20% in first 8 months of the year [People’s Daily]. Government forecasts are for more of the same for the remainder of the year [People’s Daily].
Developer’s have been more creative in their marketing, or as an official Chinese Newspaper describes it as “concocting” westernized names for their developments but some have been pressured [People’s Daily] to drop their names and appeal more to local culture.
Shanghai is still the hottest real estate market in China. Prices of “second-hand” housing grew faster than new housing [People’s Daily].