If you actually choose to bother to check out pricing in most Chinese cities, you would come to realise that the pricing is very similar to the London center. When you consider that the average salary in China is much lower than in the UK, most Chinese are only able to buy houses with help from their parents and grandparents. Add to that the lack of balance between genders due to the ruinous one child policy, and the cultural norm of property being a requirement before even trying to propose to someone, and you got a housing bubble that looks set to burst.
If you actually choose to bother to check out pricing in most Chinese cities, you would come to realise that the pricing is very similar to the London center. When you consider that the average salary in China is much lower than in the UK, most Chinese are only able to buy houses with help from their parents and grandparents. Add to that the lack of balance between genders due to the ruinous one child policy, and the cultural norm of property being a requirement before even trying to propose to someone, and you got a housing bubble that looks set to burst.
What part of 90% of the people own their housing are you still struggling with?