09.01.2013 - Home ownership dreams in booming Beijing
The BBC's Beijing bureau looks at the housing market in the Chinese capital - and how many residents' dreams exceed their reach. It was a bargain China's zealous real estate buyers couldn't refuse: at the East Asia Impressions Lake compound in suburban Beijing, apartments were selling for just 13,000 yuan ($2,086; 1,282) per square metre. Similar apartments located closer to Beijing's central business district cost approximately 20,000 yuan per square metre, according to Savills, a global real estate broker. In comparison, an average flat near London's financial centre costs 50,000 yuan, while in New York the figure rises to a whopping 68,000 yuan...............................................Full Article: Source
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