The market for condominiums
If condo buyers in Toronto and Vancouver think the prices of condos have rocketed skyward, the increases in those cities can't
compare to Shenzhen where condo prices have increased 50% in 2015.
A modest two-bedroom condo in Shenzhen can cost over $1,000,000 US.
Three price ranges
The price of housing in China varies on the size of the cities, just like they do in Canada.
A megacity has a population of over 10 million. The prices in these cities are selling for unbelievable prices.
In these cities, the cost of housing has been steadily dropping.
Changchun, in Jilin Province, what the Chinese consider a 2nd-tier
city, is twice the size of the GTA. Yet the cost of housing, due to an over-supply, has dropped
by over 50% in the last four years.
In the smaller cities, prices have stabilized with no noticeable increases. There is a glut of housing in those markets.