A Hong Kong 4,650 square foot detach fetches 35.90 million US

[nicmakaveli]

Re: A Hong Kong 4,650 square foot detach fetches 35.90 million US

10000 RMB, are you sure you can get a house for that price? I'm not talking about apartment.

http://www.newportchina.com/property...eywordss=&cz=8

those are the luxury properties i mentioned, btw, mad at you for posting competitor links. ;) (teasing)
And they're westerner, overseas chinese focused listings.
http://www.shrealestate.com/2009/03/...5-million-rmb/
record set last year
yeah, you can get those kind of "sifang" etc, they're bad though.

The stuff (in the link) on the outer circles is overvalued I think, much more than downtown housing, but there is still a lot of none gated developements, and many of those farmer houses available.
psqm low, you'll always find bargains here, but nobody wants those places.

No average chinese with 300k$ budget is going to buy a sifang, or farmers house.
They'll opt for a smaller place in a gated community, or even a smaller older apartment in the downtown area if they're smart.

Jin Shan, outer circles, probably one of the cheapest options with good railway connections, http://shanghai.anjuke.com/v2/sale/W...QQdsmZmmQQp6Z2

You have to check the chinese sites for cheap housing, won't find them in any english sites.
the prices are in 10's of thousand, so the first lisitng is 2 Million rmb, 400sqm, 5k per sqm.

[Starving Steve]

Re: A Hong Kong 4,650 square foot detach fetches 35.90 million US

Terminate all of the city planners, and get rid of all of their zoning administrators and map-colourers. Then let the open market for land decide what land is going to be worth.

Government's job would be to service outward in all directions. All greenspace and farmland would be open for development; there would be no sacred areas, no "privileged" mountains or streets, no special views. There would be no habitat preservation except for people. The livability of the city would be the goal, not energy conservation, not carbon planning, not preservation, and not anything else but LIVEABILITY.

I can guarantee that under this plan (Starving Steve's plan), land prices and home prices would drop. Rents would drop. People would be able to afford to live in the city.

Whatever money that new roads, sewage treatment plants, and trunk-line servicing would cost would be more than off-set by the savings to the tax-payers in getting rid of the city planning departments..... And I am not at all joking.

Government should exist only to empower people. And if people can not afford to live in cities any longer, then we must get rid of city planning departments. Our entire thinking on urban planning needs to be changed. Again, this all comes back to our thinking on economics and the role of governments.

Starving Steve;)

[touchring]

Re: A Hong Kong 4,650 square foot detach fetches 35.90 million US

I can guarantee that under this plan (Starving Steve's plan), land prices and home prices would drop. Rents would drop. People would be able to afford to live in the city.

Starving Steve;)

And how will Asian governments fund their subsidies if land price plunge?

http://www.chinamining.org/News/2010...168d34057.html

China's government netted 1.6 trillion yuan ($234 billion) from land sales last year, or 40 percent of the cost of the nation's two-year stimulus package.

China's government made $234 billion from land sales in 2009. And that's only the government, if you factor in state owned enterprises that bought the land at cheap price from the government and the markup on the final price to home buyers, multiply that by 2.

I remembered seeing the figure for hk sometime back, and if i've not recalled wrongly, the hk government sells at least $10 billion worth of land a year. That's a lot for only 8 million people.

[touchring]

Re: A Hong Kong 4,650 square foot detach fetches 35.90 million US

You have to check the chinese sites for cheap housing, won't find them in any english sites.
the prices are in 10's of thousand, so the first lisitng is 2 Million rmb, 400sqm, 5k per sqm.

If you're talking about farmland with a house, that's not what i'm talking about. I'm talking about new residential land with 70 years from the private developer.

[Starving Steve]

Re: A Hong Kong 4,650 square foot detach fetches 35.90 million US

And how will Asian governments fund their subsidies if land price plunge?

http://www.chinamining.org/News/2010...168d34057.html
China's government made $234 billion from land sales in 2009. And that's only the government, if you factor in state owned enterprises that bought the land at cheap price from the government and the markup on the final price to home buyers, multiply that by 2. Half a trillion dollars a year!

I am not familiar with the prices of homes in China, nor with the rake-offs taken by the govn't there for land. But I am familiar with the rake-offs and rip-offs here in North America, especially in Canada, and also in California. And my comment is that the working people ( and people like me who barely have had any high-paid work in their lives ) can not afford any longer to carry the bankers, the land speculators, the city planning departments, the politicians, and the rich farmers on their backs. Vancouver, British Columbia is an example of just how outrageous this real estate bubble has become. The Joe Six-packs like me are getting pissed-off about the scale of this rip-off, not to mention what could happen if the real estate bubble pops and destroys the equity we have acrued in our homes.

Just down here for a few weeks in California, and let me say that the picture of what has happened to high-end real estate around Silicon Valley is not at all pretty. Estate prices have dropped by 50% or more, and they still sit unsold and vacant.

Capitalism has a very ugly side to it, as Californians are just beginning to find-out. And British Columbians may be next to take the big hit in real estate.

[nicmakaveli]

Re: A Hong Kong 4,650 square foot detach fetches 35.90 million US

If you're talking about farmland with a house, that's not what i'm talking about. I'm talking about new residential land with 70 years from the private developer.

You can't really buy farmland here, not in the ownership that is with residential.

No, check out the link, it's not as nice as what you looked at, but it's houses, 3 storeys.

I agree, it's the luxury props out there that are overpriced for downtown, I can see the value behind most places, because of convenience and location.

Rents of the luxury villas at the outer ring roads (which btw, is nowadays also very urbanized since many young shanghainese, and chinese from other cities have opted to move out there) have already dropped like 30/40% percent from 3 years ago, the prices to buy those same properties hasn't, but the new developements have taken more initiative in price flexibility.

[touchring]

Re: A Hong Kong 4,650 square foot detach fetches 35.90 million US

You can't really buy farmland here, not in the ownership that is with residential.

No, check out the link, it's not as nice as what you looked at, but it's houses, 3 storeys.

Thks. I just went to take a look at the houses in that link, Jinshan district is very far from Shanghai city, like going from Kunshan city to Shanghai city, 2-3 hour journey. People staying there will probably be working at other cities bordering Shanghai?