Inside the 5th ringroad:House price exceeds 20,000 RMB per sq meter

Inside the 5th ringroad:House price exceeds 20,000 RMB per sq meter
Jul 11, 2007 04:43
YVONNE Points: Join Date: Nov 29, 2004 Status: offline	In Beijing, the real estate developers have manipulated the market,and the government's intereference and efforts seem in vain: the house price continues rising. According to a news agency in Beijing, the price of the house within the 5th ringroad surpass 20,000 Yuan per sq meter. The average price of the houses between the 2nd ringroad and the 3rd ringroad is 26,000 Yuan per sq meter. Some "good news" for those who are not rich enough: the price ot the houses outside the 5th ringroad is 8,000 Yuan per sq meter. So, if you have a low income, stay outside of the 5th ringroad.

Jul 11, 2007 04:43

YVONNE
Points:
Join Date: Nov 29, 2004
Status: offline

In Beijing, the real estate developers have manipulated the market,and the government's intereference and efforts seem in vain: the house price continues rising.

According to a news agency in Beijing, the price of the house within the 5th ringroad surpass 20,000 Yuan per sq meter. The average price of the houses between the 2nd ringroad and the 3rd ringroad is 26,000 Yuan per sq meter.

Some "good news" for those who are not rich enough: the price ot the houses outside the 5th ringroad is 8,000 Yuan per sq meter. So, if you have a low income, stay outside of the 5th ringroad.

Jul 11, 2007 04:50	#1
MIRANDAZHAO Points: Join Date: Feb 7, 2007 Status: Offline	Really very terrible. Because of the coming Olympics, nobody believe that the house price of Beijing can be cooled down.

Jul 11, 2007 20:06	#2
YVONNE Points: Join Date: Nov 29, 2004 Status: Offline	Because of Olympic games, many old residences of poor people have been demolished. The compensation they got may not cover the expense of buying a new house, since the house price continues skyrocketing.

Jul 13, 2007 22:46

GRYOKAN
Points: 205
Join Date: Oct 21, 2006
Status: Offline

This is inevitable - the Olympics are coming.
Even without the Olympics, property prices in the main cities of China will rise as a matter of course - unless the Govt intervenes and of cos unless people don't buy. Funny thing is that in some cases, the more expensive an item is, the more people crave to possess them. Western fast food is so expensive in China, relative to the general earning power, yet you see queues at every meal.

Jul 15, 2007 21:10	#4
LEONARDO Points: Join Date: May 21, 2007 Status: Offline	GRYOKAN, I completely agree with you. "Funny thing is that in some cases, the more expensive an item is, the more people crave to possess them. Western fast food is so expensive in China, relative to the general earning power, yet you see queues at every meal." Is it because human beings have the vanity?

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