Some interesting points:
- House prices in China Ghost Town (Erdos) dropped nearly 70% (from RMB 10,000 per square meter to RMB 3,000)
- ‘Ghost Town’ – a name given by the US TIME magazine to the Kangbashi district in south-central of Erdos
- The 32 square kilometres city is built by local government at RMB 17 billion
- Vacancy rate is about 66%
- Property prices now in Erdos are 6 times of 6 years ago
Related Articles: The Ghost City of China – Ordos, Inner Mongolia
.
Wordpress Cloud Tags:
- china bubble 2012
- china property bubble
- china bubble
{ 1 comment… read it below or add one }
Will Malaysia be the next?