4 Comments Posted

  1. The Chinese property market is a bit more complex than a bubble: apartment prices in Shenzhen have actually fallen a bit this year although they’re probably still much higher than they would be without all the property speculation.
    Although there are enough vacant apartments in China than there are people in any one city, rumours of an empty city are greatly exaggerated. I was recently in Dongguan (the city most often quoted as being empty) and it was definitely full of people.

  2. Russel

    If SHKP tank then NZ has a hell of a lot more to worry about than a small investment made by the Super Fund, the NZ economy will be in serious strife.

    SHKP are my landlord. As they are to a large part of Hong Kong. They specialize in building first world, high class luxury apartments and buildings. Rents in Hong Kong are high, prices still high and their profits likewise.

    A good long-term hold option through thick and thin and $23 million isn’t much exposure.

  3. Last week Russel complained that New Zealand could not buy property in China.

    Now he’s complaining that we have.

    And Russels reason that he knows more than the experts ?(the ones with the highly respected track record of administering the superannuation fund)

    Because a newly built city in Inner Mongolia, more than 2000km from Hong Kong, is empty.

    The reason Hong Kong property is rising so fast is because the property there is being brought up by wealthiest of the more than billion mainland Chinese who want access to better maternity care, better hospitals, better schools etc.

  4. I find it facinatingthe a proponent of state intervention and dictated living conditions (such as Gareth) is critical of another states intervention and dictated living conditions.

    Maybe those Greens who want humans living in shoe-box-appartments in Auckland will look at this and reflect on what they are trying to push on NZers.

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