International Investors Return, Prices Diverge by Tier
Article by CNBW member
NAI Sofia Group Shanghai
With a yearly GDP contribution of about 26% China’s construction and real estate industry has for decades been the main driver for the world’s second-largest economy. Over the past months we have seen an abrupt construction industry slowdown if not crash. Not a real estate market crash, though. In the 2009 "financial crises" property prices in many U.S. cities declined by about 50%, people walked away from their mortgages, banks were left sitting on bad loans etc. In China this has not happened, yet, and it is very unlikely to happen.