The Chinese real estate craze is spreading out to all parts of this world that is hit by Chinese oversea's investment. Nevertheless the epitome of all this is still Beijing. A city which is ranked at a bottom spot in regard to living quality breaks all Chinese pricing records. The host of the radio program that I listen to talks to a real estate expert on the phone. What kind of people live in a compound like that? What do they do in such a compound? The conversation circles around a compound which was built in 2009 just inside the 2nd ring road - Beijing has meanwhile six or these. Then the sqm was sold for 34.000 CNY, that was roughly 3500 EUR, now the sqm is sold for 17-18 wan, i.e. more than 20.000 EUR. Let's see. What could I get for that money? A one room apartment with shared shower and bathroom somewhere down the hallway? Not possible. Apartments start at 200 sqm - no single apartments available.
Even in sleepy Vienna real estate prices have made impressive increases during the last few years, but I am not aware of other cities that require such deep pockets, in particular if one considers what you get for your dig. Frequent sand storms, a dropping water level, poor air quality that hit unmeasurable heights last January, forcing people to stay inside, congested roads that give Beijing its Chinese nick name, shoudu, mother of all congestion, and a state controlled capitalist government that looms over the city like a dark halo.
Even in sleepy Vienna real estate prices have made impressive increases during the last few years, but I am not aware of other cities that require such deep pockets, in particular if one considers what you get for your dig. Frequent sand storms, a dropping water level, poor air quality that hit unmeasurable heights last January, forcing people to stay inside, congested roads that give Beijing its Chinese nick name, shoudu, mother of all congestion, and a state controlled capitalist government that looms over the city like a dark halo.
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