Thinking of buying a house in China? It's a trap!
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Not very tempting is it. I've yet to live in a property where I couldn't hear everything going on in my neighbours' flats.
If you want thicker walls and better materials you're looking at paying a significant premium on the normal purchase price.
Buying a property now would be a huge gamble. Sure, your investment might pay off, government policies might successfully ease the pressure and instead of a sharp crash you just get price stagnation for a decade, but that's going to require a lot of luck.
Don't forget that the government is not afraid to put the desires of its citizens before foreign interests within China, rightly so.
So while the government has just decided to limit foreigner purchases to one property only, as far as I'm concerned only the brave would want to purchase anything now.
The author is a Beijing-based freelance writer from the UK. viewpoint@ globaltimes.com.cn
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