Archinect - News

This Chinese City’s Property Market Is Even Chillier Than Its -22-Degree Weather

2014-04-15T13:22:00-04:00

Cities like Yingkou in China’s northeast rust belt were among the earliest cities in the country to be overbuilt. [...] Yingkou, along with other cities, sold vast tracts of lands to developers to build apartments for the workers who – they hoped – would populate the new factories, malls and industrial parks to come. [...] But investments have been slow to materialize, and newcomers are scarce in Yingkou, a city of 2.4 million with a population that hasn’t grown much in the past few years.

China's massive empty housing stock

2013-11-07T16:56:00-05:00

For those who do not believe travelers’ tales, there is the Chinese government’s own report, from 2010, concluding that home ownership rates in China were then nearly 90%. This compares with a world average of 63% and a U.S. average of 65%.

Anne Stevenson-Yang (co-founder and research director of J Capital Research Ltd.) penned an op-ed regarding the status and future of the Chinese housing market. The gist - massive urbanization has led to a vast oversupply according to the governments own figures and she predicts that "these 'urbanized” developments' will become crucibles of crime and poverty, plagues of which Chinese cities had been blessedly free".

China's Real Estate Bubble May Have Just Popped

2012-02-15T01:19:00-05:00

In a few cities, such as coastal Wenzhou and coal-rich Ordos, the collapse in property prices has sparked a full-blown credit crisis, with reports of ruined businessmen leaping off building rooftops; some are fleeing the country.

Prospects just few years ago looked great and China had jobs for everybody who were laid off in American market. But now the wind has changed direction. People who were speculating in Ordos and the like places are no where to be found and the bubble is about to burst.