There is no Property Bubble
May burst by end of 2011
May burst by end of 2012
May burst by end of 2014
May burst by end of 2016
No Clue - Try your luck by investing !!
For sure not super wealthy,not even very wealthy.
The basic counting unit were modest wealth starts is not million anymore but " ?" (Yi),
a hundred million.
Many girlies in China are looking for guys in excess of 10Yi = a billion Yuan,
roughly 100 million Euro.
According to Hurun report, almost a million people in China (HK and Macau excluded) are worth more than 10m RMB. Only 4000 have more than 1 billion yuan. So it is not difficult for the girls to focus on their targets, hehe. Most of the millionaires live in Beijing, Guandong and Shanghai. Surprising that the number is this low. Many people's apartments are worth several million RMB in Beijing and Shanghai.
in China they are trying to sell big apartments, sometimes you have to take the whole floor of a building.
Only the rich can afford, so the rich are getting richer, that might explain why the number of rich people is still that low, despite the property bubble
I mentioned here a number of times I've been waiting for the bubble to burst since 2004 on the mainland. I don't see it in the future.
When you look at these figures of $USD government reserves:-
1977 $2.3 billion
2000 $165 billion
2011 $3000 billion
Reserves are now growing at nearly $200 billion a year now.
The Chinese are not very creative at the moment in what to do with it so it still gets pumped into housing, infrastructure, energy investment and reducing the wealth gap. Also they are investing in military expansion, energy and commodities as well as technology development to reduce it's reliance on particularly US & European IP.
With all this cash soon to be burning a hole in their pocket they will go on a spending spree or just continue to pump money into property development and infrastructure projects.
Actually, virago, that is simply more evidence of the bubble.