From Thenational.ae: Hao Menhui said she feels she is late in entering China’s booming housing market. All of her friends have at least one house to their names, if not two. But one month ago she joined China’s growing club of homeowners and bought a spacious 200 sq m apartment in Beijing. “The price was right,” she said proudly, “and we have been looking for a long time.”
Finding the home was harder than buying it. China’s real estate development cannot keep up with the booming consumer demand, particularly in such large urban centres as Beijing. Moreover, the Olympics was a catalyst for a property buying spree. “People thought prices would go up so they bought, bought, bought,” said Li Qin, another proud homeowner. Ms Li, 35, knows the value of a good investment. In 2001 she bought a small apartment in Beijing for nearly 500,000 yuan. Four weeks ago it was evaluated at nearly three times what she paid..... Full Article: Source
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