Chovanec sull’immobiliare cinese. Parte 3 di 5

Patrick Chovanec

In the preceding posts, I examined the first two out of five basic theories that might explain the latest bump in China’s property sales numbers, and whether they portend a genuine turn-around in the nation’s real estate market:

  1. Lower Prices are Bringing Buyers Back
  2. Looser Restrictions are Unleashing Pent-Up Demand
  3. Optimistic Buyers are Misreading the Market
  4. Government Intervention is Boosting the Numbers
  5. Developers are Fudging Numbers to Stay Afloat

Now I’ll turn my attention to the third:

3. Optimistic buyers are misreading the market.  Up till now, I’ve been taking demand for property in China, whether from residents or investors, as a given.  Buyers know what they want — the only question is how much they’re willing to pay, or whether the government will somehow get in their way.  But as the words of the young buyer quoted earlier suggest — “I can’t see [prices] falling by much more” —…

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