Jump to content
House Price Crash Forum
Sign in to follow this  
Quokka

Home Of The Tycoons

Recommended Posts

http://www.nytimes.com/2005/10/18/business...artner=homepage

"Prices are soaring. Luxury apartments in Shanghai and Beijing with names like Home of the Tycoons now sell for prices comparable to some high-end properties in New York.

Rising prices have created a circus-like atmosphere in parts of China. Real estate fairs are mobbed, land speculation is rampant and some poor farmers dream about converting their wheat fields into the next Beverly Hills."

Edited by Quokka

Share this post


Link to post
Share on other sites

I misread this as "New HPC member is Sir John Gieve".

That all has a familiar ring to it. Hopefully a few of the poor peasant farmers will get rich out of it and it won't all go to speculators. But I doubt it some how.

Share this post


Link to post
Share on other sites

Haven't the Chinese government been acting to prevent housing speculation in the last year or so?

I don't think they're dumb enough to sacrifice their whole economy on the altar of house price inflation. But then they have a real economy to fall back on, unlike the UK.

Share this post


Link to post
Share on other sites
Haven't the Chinese government been acting to prevent housing speculation in the last year or so?

Indeed.

http://www.taipeitimes.com/News/biz/archiv...5/13/2003254509

China said it will impose new taxes and other restrictions on real estate transactions, stepping up efforts to curb speculation that has caused what the government calls a property price bubble.

...speculation has been pushing home prices beyond the reach of most buyers, fueling social tension and raising the risk of a collapse.

Rising property prices pose a threat to the stability of Asia's second-largest economy, the State Council, China's cabinet, said in a March circular that ordered city governments to take measures to rein in growth.

The government should encourage "buying for living instead of investing," Zheng Jingping (¾G¨Ê¥­), spokesman the Beijing-based National Bureau of Statistics, said on April 20.

And they are not the only Asian government to do so:

http://www.realtor.org/vlibrary.nsf/pages/...pp?OpenDocument

August 15, 2005

Speculation slows in South Korea

Anti-speculation measures, which include raising property taxes and limiting capital gains, have successfully curbed real estate investment in South Korea's overheating market, the Ministry of Construction and Transportation reports. There were 68% less transactions since the new polices were announced. Housing prices, which were up 20% in the first quarter, have started to reverse course. While ill economic effects may be felt short term, the government feels the economy will be more stable in the long run.

Edited by IPOD

Share this post


Link to post
Share on other sites

So if only we could outsource Parliament to China, we might have far more sensible economic policies in this country!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.