Monday, October 24, 2011

Chinese Housing Price

It is learnt that: China housing price is dropping in recent days, esp, in developed cities, like Beijing, Shanghai, Shenzhen, Guangzhou, etc. It is reported that the trading volume of houses in Shanghai in October, 2011 drops 19% than that in 2010 at an average price at 21,247 yuan/sq. m, 5% lower.

Chinese housing price once was like a wild house out of control

Since the end of 2007, Chinese housing price becomes increasingly crazy, from 7,000 yuan/sq.m in Shanghai in 2007 to almost 30,000 yuan/sq.m now, you can image how much pressure the Chinese bear since in China, house is regarded as a necessity for marriage, and so does it important in daily life.

Will you feel happy when stay in these concrete and steel box, bearing hundreds of thousands debt?

Luckily, it is falling, but at what range? Will it back to 7,000, or just keeps 5% lower? Nobody can accurately predict, we just need to sit and see. Maybe living in Shanghai and owing one's own nest is easier or maybe keeps an unreachable dream for most of us.

Are you standing in the queue, counting your pocket and waiting for the coming of the day when one of these houses belongs to you?