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Real estate prices ‘falling like water’ in a line of Chinese cities

Real estate prices ‘falling like water’ in a line of Chinese cities

Housing prices have been rising steadily in China for the past few years, very similar to what has been happening in Taiwan. In addition, the wide gap between rich and poor in China has had officials scrambling to come up with ways to relieve the pressure caused by high prices in places like Shanghai, Guangzhou, Shenzhen and other places in a line of cities across China. More recently the prices of new housing have slackened to where in some places they are cheaper than used housing, and in the future they may continue to drop.

China has a strange condition these days in which a man must buy a house before a woman will agree to marry him. This is the minimum condition for many, but given the gap between rich and poor it is likely to continue in the future.
One result of this ‘tradition’ is that many young people are unable to afford a house and thus not able to get married. This is another area where Chinese officials are scrambling to find a way around this impasse.

These days, at least, prices of housing are sagging in cities like Shanghai, Guangzhou and Shenzhen in China, so perhaps the problem will end up solving itself.

Updated : 2021-10-21 14:30 GMT+08:00