Tuesday, February 26, 2013

Chinese villa: the new real estate trend

Villa trend in China

In China the new trend for wealthy people is to buy villa (you don't say house but villa in China it looks more prestige).
Wealthy people prefer to invest in a small villa rather than buy an apartment at the top floor of a building...

Many would rather buy a older house or a flat in a three floor building than a modern flat in a skyscraper.

Several houses for wealthy people
Many wealthy people have several housings: one flat in a tower in the city center and a villa outside of the city.

In China there is a joke that says: villas for cleaning women since the owner comes there only from time to time. The rest of the time the cleaning woman lives in the house.

However the central government will tax people who have several housings. Now many Chinese people try to sell their second housing before the new law enactment! This is one reason that the market price slows down (not to mention that there has been too many constructions in many places). Maybe it is a good time to buy?