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Sign up with Google Sign up with FacebookQ: Would you buy a property in China in 2012? Assuming u have the cash.
No. The prices are over-inflated and you don't get your money's worth. Besides, you're not the true owner of the house anyway - you're simply leasing the property from the state for 70 years. It's probably cheaper and less risky to just keep renting.
Sangoku:
Actually the property is yours....what the Chinese government leases you is the land on which your property is built.
Since you can't sell a house for 5 years without incurring a huge tax hit, I would say no. I think the bubble will pop bad before then.
That bubble is big, its all smoke and mirrors here. I dont even trust US gummit numbers..they lie, China Lies too! Government numbers are all the bullshit! China, US, EU, AU its all the same!
That crap (China real estate bubble) will pop with a nuclear bang very soon!
If I have the money, I would rather buy an apartment or house back in my country....price is more or less the same as here, but the quality of the infrastructures is better and safer.
I did think about it but the lack of upkeep put me off.
I think it would be like buying a McMansion in Vegas back in 2007.
I give the bubble 2-3 years to burst....making the US housing market crisis look like Disneyland.
only way I will buy property in China is if I build my own. the craftmanship here leaves much to be desired. it's almost as if no standards exist.
Assuming I had the cash, absolutely. There is no bubble and, quite possibly, never will be. Hope to buy within the next couple of years.
The Chinese peoples thoughts on property are long term not like the West,Chinese people dont sell their properties,they just pass them on down the family line or as wedding gift to son or daughter or as a means as earning income by renting them out,they also dont like anything second hand,so property value will not burst as more people are earning more money so the demand for a future husband to own a property increases,if your a Chinese man with no property your in a bad situation, so the need for properties will keep increasing,soon it will be if you dont own one property and have another for your future child its not good enough
no, an unstable country is not a good place to grow roots unless it's thailand
Absolutely not!
The government leases you the land on which they supposedly guarantee 70 years. Well isn't that great? So if in the distant future they want to build a mini-mall... I can't pass on my home to grandchildren.
And who knows if they will even reimburse you properly. I think I am not alone when I say "I don't trust the Chinese government at all."
Furthermore... I doubt with the quality of homes... it will even stand for 70 years. Trust me folks... in 50 years... China will have to rebuild itself ALL OVER again just because of the shabby infastructure.
Do yourself a favor and wait for the bubble to burst and just rent. Chinese are buying up all the real estate because that's the only thing they know how to invest in with their money. They think it is a sure thing... It's going to crash when they realize they can't sell the building/homes and they begin to fall apart.