From International Herald Tribune:<\/p>\n
Property prices <\/a> in Shanghai <\/a>, Beijing <\/a>and Guangzhou <\/a>are too high and developers should focus on the smaller Chinese cities as they grow richer, some real estate executives believe.<\/p>\n
“First-tier cities are getting too expensive,” Justin Chiu, executive director at Cheung Kong <\/a>, Hong Kong’s biggest developer, said in an interview Tuesday. “Anywhere in the world people who support the property market are from the middle class, but in these first-tier cities, prices are getting too high for middle class people to absorb.”<\/p>\n
Hong Kong developers like Cheung Kong and Henderson Land Development <\/a> are relying on returns from investments in China. The average housing price in 70 major cities there grew 6.4 percent from a year earlier in May, the fastest pace in 18 months, according to the National Development and Reform Commission. <\/a> [Full Text] <\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
From International Herald Tribune: Property prices in Shanghai , Beijing and Guangzhou are too high and developers should focus on the smaller Chinese cities as they grow richer, some real estate executives believe. “First-tier cities are getting too expensive,” Justin Chiu, executive director at Cheung Kong , Hong Kong’s biggest developer, said in an interview […]<\/p>\n","protected":false},"author":31,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[3548,2978],"class_list":["post-13415","post","type-post","status-publish","format-standard","hentry","category-economy","tag-ndrc","tag-property-market","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n
Property Firms Embrace Smaller Chinese Cities - Bloomberg News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2007\/06\/property-firms-embrace-smaller-chinese-cities-bloomberg-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property Firms Embrace Smaller Chinese Cities - Bloomberg News\" \/>\n<meta property=\"og:description\" content=\"From International Herald Tribune: Property prices in Shanghai , Beijing and Guangzhou are too high and developers should focus on the smaller Chinese cities as they grow richer, some real estate executives believe. “First-tier cities are getting too expensive,” Justin Chiu, executive director at Cheung Kong , Hong Kong’s biggest developer, said in an interview […]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/chinadigitaltimes.net\/2007\/06\/property-firms-embrace-smaller-chinese-cities-bloomberg-news\/\" \/>\n<meta property=\"og:site_name\" content=\"China Digital Times (CDT)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ChinaDigitalTimes\" \/>\n<meta property=\"article:published_time\" content=\"2007-06-26T18:47:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.png\" \/>\n\t<meta property=\"og:image:width\" content=\"186\" \/>\n\t<meta property=\"og:image:height\" content=\"177\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kate Zhao\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cdt\" \/>\n<meta name=\"twitter:site\" content=\"@cdt\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kate Zhao\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\/\/chinadigitaltimes.net\/2007\/06\/property-firms-embrace-smaller-chinese-cities-bloomberg-news\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2007\/06\/property-firms-embrace-smaller-chinese-cities-bloomberg-news\/\"},\"author\":{\"name\":\"Kate Zhao\",\"@id\":\"https:\/\/chinadigitaltimes.net\/#\/schema\/person\/dc4c77d136cf2d5be96c8e11f47f45d1\"},\"headline\":\"Property Firms Embrace Smaller Chinese Cities – Bloomberg News\",\"datePublished\":\"2007-06-26T18:47:54+00:00\",\"dateModified\":\"2007-06-26T18:47:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2007\/06\/property-firms-embrace-smaller-chinese-cities-bloomberg-news\/\"},\"wordCount\":143,\"publisher\":{\"@id\":\"https:\/\/chinadigitaltimes.net\/#organization\"},\"keywords\":[\"NDRC\",\"property market\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/chinadigitaltimes.net\/2007\/06\/property-firms-embrace-smaller-chinese-cities-bloomberg-news\/\",\"url\":\"http:\/\/chinadigitaltimes.net\/2007\/06\/property-firms-embrace-smaller-chinese-cities-bloomberg-news\/\",\"name\":\"Property Firms Embrace Smaller Chinese Cities - 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