Asia Times: Living in China’s bubble

From Asia Times Online:

China’s market seemed to have got into an unrelenting price spiral in 2004 as the central government issued a series of policies to cool down the sector but housing prices continued to rise throughout the year. This surprising double-digit year-on-year growth may have delighted developers, but made experts fear a market bubble.

According to the National Bureau of Statistics, by the end of November, China’s housing price rose 12.5% year-on-year, up 0.8 percentage points over the 11.7% growth in October. The growth rate is even higher in 35 major cities. So is the country’s real estate market enjoying healthy development or is this just an artificial bubble? There is still no definite answer.

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