You are here: Home » Breaking News » Beijing real estate prices 'ar... » Lebanon
Breaking News - Lebanon
Send to friend
Discuss on CityscapeConnect.com
All RSS feeds
Beijing real estate prices 'are soaring'
05 Jul 2009
According to Pan Shiyi, chairman of property firm SOHO China, bidding for land in the country has become "irrational", reports China Daily.
Earlier this week, a parcel of land along Guagqu Road in Beijing was sold at auction for more than four billion yuan ($585 million), which was a record sum for a single piece of real estate in the city.
"A bubble in Beijing's property market is definitely there," Mr Shiyi commented.
His views were supported by a broker with Homelink, who said market analysts used to talk about monthly price growth, but that now "it's more about daily change".
Earlier this week, general manager of investment bank to the real estate market Stanley & Partners Chen Jiaqiang told China Stakes that the value of land has risen again in the country.
He claimed that the sector is strong and that investors are unlikely to lose money by purchasing real estate in China.
Login
Find A Company
Weekly Email News Round-up
Related news by topic
Aldar reports revenue slump for H1 2010
29 Aug 2010
Abu Dhabi's leading property development investment and management company, Aldar Properties has ann...
Encouraging signs for the hotel investment market
29 Jul 2010
The first half of 2010 has demonstrated that the EMEA hotel investment market is starting to pick ...
Major contracts awarded for key real estate projects
29 Jul 2010
Al-Futtaim Engineering has won major contracts worth AED 83 million for supply and installation of l...