China has seven of ten of the world’s least affordable property markets!

China has seven of ten of the world’s least affordable property markets!
Jul 3, 2013 02:06
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	According to the IMF (International Money Fund), seven of the world’s priciest property markets are located in China, which includes Beijing, Shanghai, Shenzhen, Hong Kong, Tianjin, Guangzhou and Chongqing. The housing prices in these seven cities have surpassed Tokyo, London and New York. An apartment in New York is 6.2 times more than a family’s yearly income. By comparison, it takes almost 25 years of earnings to buy an apartment in the downtown area in Beijing. The housing prices have become a large mess for Chinese government. Although many policies and regulations have been carried out to curb the soaring housing prices, all the efforts have been proved to be a failure. The prices of the new homes in June increased by 7.4 percent compared with the June 2012. No wonder some men have decided to get married with girls who have apartments.

Jul 3, 2013 02:06

JIMMYB
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Join Date: Feb 7, 2007
Status: offline

According to the IMF (International Money Fund), seven of the world’s priciest property markets are located in China, which includes Beijing, Shanghai, Shenzhen, Hong Kong, Tianjin, Guangzhou and Chongqing. The housing prices in these seven cities have surpassed Tokyo, London and New York. An apartment in New York is 6.2 times more than a family’s yearly income. By comparison, it takes almost 25 years of earnings to buy an apartment in the downtown area in Beijing.

The housing prices have become a large mess for Chinese government. Although many policies and regulations have been carried out to curb the soaring housing prices, all the efforts have been proved to be a failure. The prices of the new homes in June increased by 7.4 percent compared with the June 2012.

No wonder some men have decided to get married with girls who have apartments.

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