Lian He Zao Bao of Singapore News, published an article, named ‘Chinese Real Estate Market is Closely Related to International Economic Tendency.’ The Chinese government has focused on preventing the market from creating a bubble. Chinese economy not only influences 1.3 billion Chinese’s welfare, but also connects to the economy of East Asia.
According to the National Bureau of Statistics of China, the housing price in 70 big cities has increased by 5.7 percent from November of last year, and is up 1.8 percent from last month. The price-to-earnings ratio in Shanghai, Shenzhen, and other big cities is already over the ratio of America and Japan.
Chinese Academy of Social Sciences published a report about housing, according to the report 85 percent of households cannot afford to buy a house. That's why a TV series, titled ‘A Shabby House’, has gained tremendous popularity. There is public sympathy among most Chinese; the series reflects real conditions which many Chinese have faced.
The Chinese economy needs stable surroundings for developing continuously, and the real estate market is one of the most important surroundings. Besides, China is the economic locomotive, leading the stagnant international economy. Thus, neighbors are staring at the unaffordable price of housing that is already becoming a hot social issue in China and the ‘affordability ratio’ is sky-high.
