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The same day, official figures showed real estate output in China was down 1.6% in the third quarter year on year, the first time it has been negative since the start of the pandemic. [ 44 ] On 20 October 2021, the National Bureau of Statistics of China published data indicating that home prices had fallen month-on-month for the first time ...
The 2005 Chinese property bubble was a real estate bubble in residential and commercial real estate in China. The New York Times reported that the bubble started to deflate in 2011, [1] while observing increased complaints that members of the middle-class were unable to afford homes in large cities. [2] The deflation of the property bubble is ...
For years, China's so-called tier-one cities, including Beijing, Shanghai and Shenzhen, have imposed restrictions on home purchases by non-local buyers as a key rule to control local housing prices.
As of 2010, China's real estate market is the largest in the world. [7][8] According to Bloomberg Economics estimates, the sector contributed to about 20% of China's GDP in 2023, [9] down from a peak of 24% in 2018. [10] As of 2023, real property accounts for 60% of Chinese household assets. [6]: 161.
Fortune has described SOHO China as ""one of the country's most high-profile real estate firms", [4] and The New York Times has described the company as China's only pure prime office developer. [ 11 ] [ 12 ] Having shifted from a "build to sell" to "build to hold" strategy in 2012, [ 13 ] [ 14 ] [ 15 ] the company now holds 1.4 million square ...
By 2014, Chinese builders have added 100 billion square feet of housing space in China, equating to 74 square feet per person. Construction of urban housing was a major undertaking. The country has shown a major shift in allocating funds and resources to housing their people, building over 5.5 million apartments between the years of 2003 and ...
Shanghai's rising real estate prices have plagued the city since 2002, and rose over 200% during Chen's term in office as the city's Party Chief, as ordinary Shanghai citizens found it increasingly difficult to find a place to live. The real estate network had a history of being monopolized.
Businessman. Andy Xie (Chinese: 谢国忠; pinyin: Xiè Guózhōng; born 1960) is an independent economist based in Shanghai, and the former Morgan Stanley star chief Asia-Pacific economist [1] famous for his contrarian and provocative views. [1] He left Morgan Stanley abruptly in October 2006 [2] when an internal email [3] that he penned was ...