Thursday, March 7, 2013

Changsha city center "No Man's land"

In Changsha city center, an entire district is being rebuilt. The building dated back from the 80's.
Now they build modern buildings twice as tall, rabbit hutch. They will get old after a few years. Appartments are sold 15 thousands per m2. Not exactly a good investment as far as I know.

In China you rebuild after 5 to 10 years.
A big part of new apartments remain empty: either there are investments and the owners don't live there. Either in the city district buildings remain empty. It is the growth logic...

Also you should know that for any new building I heard that the real estate company only need to sell about 1/4 of the apartment in order to make some profit. In fact the Chinese local and central governments give subsidies.

The "no mans land" photos:

Far away you sea a big arch, similar to La Defense in Paris, build on Wuyi Road, Changsha main avenue.
On the left, Wan Fu Jin qui which is the first shopping center built in Changsha!
Straight on the right side, Changsha second shopping center opened by a Japanese company: Pin He Tang. Today you find two Pin He Tang in Changsha.
Changsha walking street.

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