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Chinese Real Property: To Buy Or Not To Buy, That Is The Question.

By Dan Harris and Steve Dickinson

BizCult blog has a rather rah-rah post on why we should all be buying residential property in Beijing, essentially right now. The post is entitled, "If Not Now, Buy Property Sometime Soon," and it is based on a talk by Feng Lun, of Beijing Vantone Real Estate, at the recently completed Asia Society?s 18th Asian Corporate Conference on why "real estate will continue to be a good investment after the Olympics." I agree with the assessment that the run-up in Beijing real estate is not really based on the Olympics and I also agree that the end of the Olympics likely will not exert any real downward pressure on prices. However, I always discount those in the real estate business who say real estate prices will be going up because they have such a vested interest in believing that line and in pushing it. I mean, how many times have you heard them say they will go down? I also am skeptical of any real estate market where buying prices are so out of whack with renting prices and with median income. What do you think about Chinese residential real estate prices in Beijing and elsewhere? Where is it likely to be hot over the next five years and where not?

Full post as published by China Law Blog on June 08, 2008 (boomark / email).