If you’re fatigued of the U.S. residential real estate market’s struggles, you might consider moving, to China.
Unlike in the United States, China’s real estate market is booming according to this story on China View. Just more than 3,204 billion yuan, equivalent to $435.4 billion in U.S. currency, flowed into China’s property sector during the first 11 months of this year. That’s a 40 percent increase from the first 11 months of 2006.
That figure, released by the National Agency of Statistics, includes both commercial and residential real estate. China’s growth in these sectors has been strong enough to attract a growing number of foreign investors, too. Overseas capital flowing into China’s real estate business came in at 53.9 billion yuan. That’s an increase of 71.9 percent from the same 11-month period in 2006.
The question, though, is will China’s real estate market suffer the same fate as that of the United States’? The Chinese government is taking steps to slow their country’s real estate boom. But will it work? It will be interesting to see if China has learned any lessons from the United States’ current real estate slump.
My guess? Probably not. But we’ll have to wait and see.
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