ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperOpinion / Opinion LineEditorialsOp-EdColumnistsContributorsCartoonsSpecialsFrom the PressForum TrendsTalk from streetDebateEditors Pick:Syrian refugeescyberspaceV-Day paradeshrimp scandalTPPAnother odd event in realty market(China Daily) Updated:2016-09-27 07:33Comments Print Mail Large Medium SmallA potential homebuyer checks realty brochures at a property expo in Shanghai.[Photo Provided to China Daily]Nine 12-square-meter apartments were sold for 880,000 yuan ($140,000) each in Shenzhen, South Chinas Guangdong province, on Sept 24, the day they went on sale. Buyers were apparently waiting for two months for the “pigeon hole” apartments. Beijing Youth Daily commented on Monday:That the apartments were sold at such a high price shows the property market in first-tier cities like Shenzhen is getting hotter. In terms of per sq m, the “pigeon holes” were expensive. But they had a strong selling point: they cost less than a normal apartment that would cover more than 60 sq m.
The property market seems immune to the established economic theory that when the price of a product goes up its demand goes down. The higher the housing prices rise in first- and second-tier cities, the fiercer the competition gets. In contrast, property developers in many third- and fourth-tier cities are finding it hard to even maintain the current rate of demand.
Many people will buy the Shenzhen-style “pigeon holes” in first-tier cities simply because they cannot afford a bigger house. But if the property prices continue to rise sharply, where will all this end?0Related StoriesChinas three property giants see sales hit $30b in 2016Nanjing further tightens control on property marketBeijing to further intellectual property protectionHow property market frenzy can be curbedMost Viewed Todays Top NewsInfo can curb misuse of child-specific drugsBy speculating on anti-cancer study, media outlets are doing a disserviceToward extradition of fugitivesInitiative helping nations in development pacesThe first authoritative report on “Belt and Road” three-year progress releasedForum TrendsCan China regain its status as the bicycle kingdom?Graffiti – street art or crime?Are you willing to give salary to your wife?Is teaching a poorly-paid profession?Will e-books replace paper books?Is acting an overpaid job?Is Chinas early education craze happening?ColumnistsThe writing on the Great Wall is griefChina, Japan need to shelve disputes and live with each otherFeatured ContributorsChina is taking a leading role in solving the refugee crisisInvestor distrust leads to stock market slump over new listing ruleStar BloggersWhat we can learn about sustainable inclusion from Colombian coffee By Marcos Fava NevesColombian coffee has a story that I admire and use in my lectures and the reasons are the ones listed above. Congratulations!No students for class By Michael MurphyOne thing that foreigners are not used to in China is how quickly and dramatically a schedule can change.The killing of a Chinese man in Paris By ChevalerieDuring my last visit to Paris, the killing of a Chinese man moved me a lot. Chaolin Zhang was a dressmaker, a man like many others, hard-working, good father and happy to live on Earth. In honor of his memory, this is the context surrounding his death.SpecialAcorss Loulan: an internet cultural journey into amazing Xinjiang2016 retrace the Long March route in GuizhouFive guidelines for foreigners seeking job…| About China Daily | Advertise on Site | Contact Us | Job Offer | Expat Employment |Copyright 1995 -var oTime = new Date();
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