It's going to be interesting to see how this turns out. I can see the same thing happening here in Mumbai. Big real estate developers building these big luxurious houses, some even come with their own private swimming pools, and although, Mumbai -the city of extremes- has that kind of money, there are also those who can't afford even an one room-kitchen in Mumbai. And so confused, I asked a friend what happens to those who can't afford multi-crore flats, and then she told me about Virar.
Anyway, back to China, knowing the Chinese, I shouldn't have been surprised:
Read, China’s Empty Apartments: Part1 and Part2.
And, Chinese hit by over-inflated house prices.
Anyway, back to China, knowing the Chinese, I shouldn't have been surprised:
The second, a Beijing municipal regulation restricting families to owning one apartment each has also failed because, as Chovanec said, “People got around [it] by getting divorced.”
Read, China’s Empty Apartments: Part1 and Part2.
And, Chinese hit by over-inflated house prices.
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