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China’s home sales transaction value rose 24 percent in June from the previous month, the biggest monthly gain this year, signaling that the government’s latest property measures are failing to deter buyers.
Talk about a boiling property market. Makes the Spanish boom look like a small bowl of cold gazpacho in comparison. Surely this will end in tears….
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Quite a few Chinese are buyers in Spain too. It’d only take a small relative percentage of them to switch to Spain, and the housing over-supply will be met!
I don’t know how they got residency but they are in various parts of Spain – and starting up small businesses left, right and centre. They head the number of foreign autonomo creations in Spain – ahead of the Brits, Italians and Rumanians. Again I wonder how they all got residency permission?? -
The Chinese may have second thoughts about moving to Malaga area after several incidents which led to a meeting last week between the Chinese community asking the Police for better protection. Seems as they are considered easy prey, don’t know what it’s like in other areas.
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